Malaysia-Based Axis Real Estate Investment Trust Drives Value-Added Services with Yardi Voyager
Yardi Systems, one of the leading global developers of real estate software for investment, asset and property management, has announced that Axis Real Estate Investment Trust has selected Yardi Voyager™ to drive operational efficiency and deliver high value services to investors and tenants.
“Our vision has been to not only drive increases in our investors returns, but deliver our tenants a highly positive, value-add experience through the streamlining of operational efficiency,” explains Steward LaBrooy, CEO at Axis REIT Managers Berhad, the manager of AXIS Real Estate Investment Trust. “We needed a solution that would enable us to deliver a more effective annual budgeting and forecasting cycle, and valuations and more effective management tool for our capital and existing enhancement projects. Voyager, its extensive functionality, ease of use and scalability combined with local, regional support meant Yardi were the best partner to meet our requirements.”
AXIS Real Estate Investment Trust was the first Islamic REIT in Malaysia and the Manager has previously won the prestigious APREA (Asia Pacific Real Estate Association) annual Best Practice award. The Fund has twenty-nine (29) properties, and continues to actively grow through the acquisition of new properties across commercial, office, industrial and warehousing sectors. Implementation will include core Voyager 7 hosted via the Yardi SaaS solution, with Advanced Budgeting & Forecasting and Construction modules.
“We are pleased to welcome Axis as a client,” says Neal Gemassmer, Vice President, Yardi Asia Pacific & Middle East. “Our client base continues to grow throughout the ASEAN region. We’re pleased that our continued investment in our local operations enables us to deliver the solutions and services to companies such as Axis-REIT a platform to provide their clients value-add services.”
Axis-REIT was listed on Bursa Malaysia on 3 August 2005. Axis-REIT's principal activity is to invest primarily in commercial, office and office/industrial real estate. In December 2008 it was successfully reclassified as a Shariah Compliant REIT.
Axis-REIT is managed by Axis-REIT Managers Berhad (the "Manager"). The Manager's primary objective is to ensure the Fund provides a regular and stable income distribution to Unit holders and ensure long-term growth in the NAV of the Fund.
To achieve the above objectives, the Manager is entrusted with the implementation of the following investment strategy of the Fund:
- Organic growth strategy - maintain and/or improve the occupancy and net property income within the portfolio of properties through timely asset enhancements and improving operating efficiency to reduce cost
- Acquisition growth strategy - selective acquisition of yield accretive Shariah compliant properties which meets the Fund's investment objectives
- Financing strategy - put in place a cohesive debt and equity strategy which also addresses funding cost risks.
- Investor Relations - we take pride in maintaining an excellent relationship with all our stakeholders
For further information please visit www.axis-reit.com.my.
Yardi Systems has been committed to the design, development and support of real estate investment management and property management software for 30 years. With the Yardi Investment Suite™, Yardi Commercial Suite™, Yardi Multifamily Suite™, and Yardi Orion™ for SharePoint®, the Yardi Voyager™ platform is a full real estate management platform that includes operations, accounting, and ancillary processes and services with portfolio-wide business intelligence. Yardi serves clients around the world from offices in Asia, Australia, Europe, Middle East and North America. More information about Yardi products and services is available at www.yardi.com.