Largest U.S. Multifamily REIT Completes Tech Transformation After Merger
Project Overview
As part of the MAA and Post Properties merger, RealFoundations performed an accelerated technology assessment to leverage the appropriate combination of tools & technology from both companies.
During the technology integration strategy planning sessions, facilitated by RealFoundations, it became apparent to MAA’s leadership team that broader use of Yardi® Voyager, one of the leading Enterprise Resource Planning (ERP) platforms for the real estate industry, could better position the organization for growth and efficiency. The project eventually entailed the implementation of solutions from the Yardi® Multifamily Suite for residential and commercial management, general ledger, job cost, maintenance and online leasing, and resulted in what is believed to be the largest Yardi data transformation to date. To learn more, read the full press release.
“RealFoundations led us through a process of assessing the two organizations’ business processes and supporting technology stack in order to build a platform to combine the two companies and solidify MAA’s foundation. The end result of this transformation is that we are better positioned to provide an improved resident experience, achieve greater operational efficiencies and take full advantage of business growth opportunities in the future.”
— Al Campbell, EVP & Chief Financial Officer, MAA
Challenges
MAA and Post had two operating models, duplicative processes and disparate systems following the merger. This meant:
- Two different operating models consisting of different processes and disparate systems of record;
- Need for more effective reporting consolidation and streamlined processes;
- Materially different approaches to technology strategy between both organizations;
- Proprietary platforms with redundant purposes across both organizations; and
- Competing priorities for resources, time and capital across projects.
Value-Add Solutions
RealFoundations designed the future-state technology platform and comprehensive deployment plan for implementation and adoption. This included program planning and execution across the entire enterprise and portfolio of 100,000 multifamily units, spanning 17 states, as well as the:
- Facilitation of cross-department coordination and communication;
- Analysis of the company’s business functions and identification of improvement areas;
- Development of a technology transformation and adoption strategy;
- Design of future-state solution architecture and processes;
- Configuration and testing of the newly designed technology platform;
- Migration of data from legacy Yardi environments into newly designed Yardi 7S environment;
- Documentation of end-user procedures and accelerated delivery of end-user training; and
- Support of post-go live activities and end-user adoption.
Realized Benefits
The merging of the two companies, with a total market cap of ~$15 billion, created a combined portfolio of 304 apartment communities comprising 100,063 units and became the largest Multifamily REIT in the U.S. MAA now benefits from:
- A robust technology platform positioned for future growth and expansion that helps reduce risk and lower operational cost;
- Consolidated and standardized corporate financial reporting program with improved visibility and scalability; and
- Realized synergies from merging companies due to aligned practices across portfolios.
Connect with Us
Contact us to learn more about how RealFoundations can deliver long-term benefits to your organization. Let’s Start the Conversation.
Our Yardi Experience
As a premier Yardi Independent Consultant, RealFoundations has significant experience implementing, upgrading and supporting the full suite of Yardi® products for our clients across various real estate market segments. Our practitioners are proficient in all Yardi Marketing, Property Management, Procurement, Asset Management and Investment solutions. Since 2000, we have completed 80+ Yardi implementations/upgrades and developed unique design workbooks that document cross-module configuration. Our know-how and cross-module experience in various Yardi products empower us to meet our client’s most important functional requirements and consistently deliver valuable outcomes. To learn more, visit Yardi Consulting and Services.
About Yardi
Yardi develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, CA and serves clients worldwide.
About Mid-America Apartments
Mid-America Apartments (MAA), an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities throughout the United States. As of June 30, 2018, MAA had ownership interest in 101,362 apartment units, including communities currently in development, across 17 states and the District of Columbia.
About Yardi
Yardi develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi® is based in Santa Barbara, CA and serves clients worldwide.
About RealFoundations
RealFoundations (RF) is the world’s foremost professional services firm focused solely on the real estate industry. Through our delivery of Management Consulting and Managed Services, we help companies that develop, own, operate, service or invest in real estate make better, more profitable decisions. We are proud partners to over 500 real estate companies around the globe, providing accelerated solutions that solve some of real estate’s most complex challenges. We Make Real Estate Run Better.
