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THIS LARGE CLASS-A OFFICE INVESTOR LEVERAGED REMAAPᴬᴵ TO INTEGRATE $5B IN ACQUISITIONS

Large class A office

A large Class-A office institutional investor leveraged REEmaap and NTrust services to quickly integrate a $5 billion acquisition. This $5 billion acquisition included 320 properties and 1,500 leases. The data for both the buyer and the seller was in MRI and NTrust was leveraged to both validate these 1,500 leases and to upload them into the buyer’s MRI system.

This particular investor has just completed a $5 billion transaction and needed to start administering and reporting on the new portfolio. Although, during the acquisition process, they found that the seller did not maintain the same information in their MRI system as they required.

The Issue

They needed to quickly review and clean the data from the seller’s system, extend the data to include clauses and fields required in the buyer’s system and stage the data for approval prior to loading it into their production system. NTrust provided the clean-up and abstraction services and chose to leverage REmaap to provide a user-friendly interface and excellent workflow and document annotation tools to generate high-quality data and documents for their production system.

How NTrust Helped

NTrust made sure that all requirements were covered and that any gaps were taken care of early on. NTrust met with key stakeholders and discussed requirements and what enhanced reporting they would like to have for the new portfolio. Then they performed an analysis of the seller’s data set to identify missing data, incomplete data and inaccurate data.

After this was done, a pre-engagement pilot was conducted to give the investor with a sample of over 50 lease abstracts to look at and determine what refinements and extensions of the data they needed. The result was a Final Scope document that was used and updated during the duration of the project. Once it was approved, then began the production abstraction of the portfolio of 1,500 leases.

How the Investor Leveraged REmaap

The investor was then introduced to REmaap and chose the platform to be the abstraction and data aggregation platform for the project. During the Pre-Engagement Pilot phase, stakeholders identified several data points they wanted to add to both the seller’s data and their own. REmaap’s flexibility allowed for this data to be added quickly before the Production Abstraction phase of the project. This additional data was highly beneficial to every stakeholder.

Timeline

The buyer was on a tight deadline, as they needed all of the data loaded into their production system within 10 weeks of engaging NTrust.

  •      Over 10,000 PDFs
  •      Abstraction of a little over 1,500 leases
  •      375,000 bits of data
  •      125,000 options, clauses and notes.

NTrust got the job done. These types of complex and time-sensitive lease and property data projects, NTrust’s knowledge and expertise in MRI data structure, in concert with its best-in-class data migration and abstraction platform REmaap, even a large transaction like this 320-property, $5 billion acquisition, can be done accurately and in a timely fashion.

Ready to learn more? Contact us today.