We are very excited to take advantage of Request’s consolidation and reporting capabilities.
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Needham, MA (Vocus) May 13, 2010
Healthcare Trust of America, Inc., a self-managed, publicly registered, non-listed real estate investment trust, or “REIT”, with approximately 8.1 million square feet under management, has selected Resolve Technology’s business intelligence solution to enhance HTA’s management of investment performance and risk. Resolve Technology's Request software provides HTA the capability to access consolidated information from its MRI property management/accounting system and Argus forecasting system from a single source.
“We are continuously seeking new opportunities to enhance our asset management platform, and having timely access to reliable and consolidated information is critical to our ability to monitor and manage our expanding portfolio,” said Scott D. Peters, Chief Executive Officer and President of Healthcare Trust of America, Inc. “With the sizeable portfolio we already have under management, access to real-time data presented in customizable dashboards and easy-to-read reports is vital. This represents another upgrade to our asset management capabilities, consistent with our self-management model.”
Request provides a unified platform for real estate investment reporting and analysis at the asset level and across the entire investment portfolio. The system automates the consolidation, validation, and presentation of information from commonly-used property management and accounting systems, including J.D. Edwards, MRI, Timberline, and Yardi, as well as real estate forecasting systems such as Argus’ Valuation-DCF and Asset Management solutions.
Request provides decision-makers with reports and dashboards that enable instant visibility into asset and portfolio performance. Request dashboard and charts can be readily manipulated to support real-time analysis of asset-level or portfolio-level metrics and performance indicators. Presentation-quality reports for board and investor meetings can be produced with a click of a button. HTA plans on using the system to combine input entered into MRI by its various property management partners, providing a more complete view of asset information from a single access point.
“We are very excited to take advantage of Request’s consolidation and reporting capabilities,” explained Amanda Houghton, Vice President – Asset Management and Finance at Healthcare Trust of America, Inc. “This solution will allow us to consolidate information from our various asset management and accounting sources (i.e., MRI, Argus, Excel, etc.) into one data warehouse and essentially eliminate spreadsheet-based reporting. Not only will this help us streamline the appearance of our reports, but it will also give us access to accurate information more quickly and allow us to spend more time on analyzing trends and key metrics rather than compiling data.”
“Resolve is extremely pleased to be selected to partner with Healthcare Trust of America, Inc. By implementing our one-of-a-kind real estate business intelligence platform, this dynamic and growing REIT joins the ranks of other industry leaders that are already benefiting from our solution,” said Eric Forman, Resolve Technology’s CEO.
To learn more about Resolve and Request TM, visit http://www.resolvetech.com.
About Healthcare Trust of America, Inc.
Healthcare Trust of America, Inc. is a self-managed, publicly registered, non-listed real estate investment trust or “REIT”. It owns a select real estate portfolio of medical office buildings and healthcare-related facilities that generates stable, long-term operating cash flow. The REIT has made 61 geographically diverse acquisitions valued at approximately $1.61 billion based on purchase price, which includes 192 buildings and two real estate-related assets. Healthcare Trust of America, Inc.’s portfolio totals approximately 8.1 million square feet and includes 173 medical office buildings, six hospitals, nine skilled nursing and assisted living facilities and four other office buildings located in 21 states.
About Resolve Technology
Resolve Technology, a CoStar Group, Inc. (Nasdaq: CSGP) company, helps institutional real estate investors and investment managers make timely and informed decisions that maximize returns and minimize risk. Resolve’s solutions help ensure the timeliness, integrity, and visibility of investment information, enabling historical and forward-looking analysis to be performed with insight, confidence and speed that we believe cannot be achieved with the traditional manual, spreadsheet-intensive processes. Resolve’s products are used by some of the world's leading advisory and investment management firms, REITs, and life insurance, pension fund, and banking institutions. Customers include Behringer Harvard, Glenborough, LaSalle Investment Management, Prudential Real Estate Investors, Principal Global Investors, and UBS. Founded in 1990, Resolve is a wholly owned subsidiary of CoStar Group, Inc., and is headquartered in Needham, Massachusetts. For more information, visit http://www.resolvetech.com.
About CoStar Group, Inc.
CoStar Group, Inc (Nasdaq:CSGP) is the number one provider of information, marketing and analytic services to commercial real estate professionals in the United States as well as the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information throughout the U.S. as well as in the United Kingdom and France. Headquartered in Bethesda, MD, CoStar has approximately 1,400 people working for the Company worldwide, including the largest professional research organization in the industry. For more information, visit http://www.costar.com.
All companies and products listed herein are trademarks or registered trademarks of their respective holders.
This news release includes "forward-looking statements" including, without limitation, statements regarding Resolve’s expectations, beliefs, intentions or strategies regarding the future. These statements are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar Group's filings from time to time with the Securities and Exchange Commission, including CoStar Group's Form 10-K for the year ended December 31, 2009, and CoStar Group’s Form 10-Q for the quarter ended March 31, 2010, under the heading "Risk Factors." In addition to these statements, there can be no assurance that use of the Request solution will eliminate HTA’s spreadsheet-based reporting, or that Request will enable HTA to pull together and analyze its information quicker than it was able to do in the past, to spend more time analyzing trends and key metrics and to make better decisions related to the management of its assets. All forward-looking statements are based on information available to Resolve on the date hereof, and Resolve assumes no obligation to update such statements.