The Pacific Companies
In 2011, with 84 properties, 4,403 units, Denise and her two-person team, were drowning in portfolio data from disparate sources. She needed a portfolio management solution that would streamline data input and analysis to get clarity and control over the portfolio. This level of clarity would allow Denise and her team to manage the lifecycle of their existing properties, so that Caleb and his team could focus on new deals.
At that time, it took Denise and her team one to two weeks to manually input and compile the monthly trial balances in spreadsheets. This built-in delay due to manual processes just added more stress to the asset managers.
When you’re thriving and expanding, it can suddenly feel like the systems that once served you so well don’t seem to cut it anymore. For Cardinal Capital, that experience happened in 2012 when the firm was managing 4,500 units across four states. Cardinal was on track to double the portfolio size over the next four to five years. Joe Thomae, Director of Information Technology and Property Insurance & Construction Bonding at Cardinal Capital Management, Inc. (Cardinal Capital) knew it was time to make a significant change.
The Wentwood Companies
Founded in 1992, The Wentwood Companies provide direct-investment, funds management, asset management, recapitalization, and work-out services to corporate investors on their LIHTC equity investments. In 2011, Wentwood took over management of $900 million in tax credit equity investments for one of the largest private companies in North America. This portfolio includes 30 syndicated partnerships consisting of over 487 properties in 47 states. With offices in Austin, Texas, and Granville, Ohio, Wentwood also asset manages $550 million in equity invested in over 320 properties nationally.
With an expanding portfolio and growing team of asset managers, Wentwood sought an asset management solution to proactively manage portfolio risk and to effectively report to investors.