Investment Firm Scales Their Portfolio and Tracks Renovation Projects with One Platform

Overview

The GSH Group is a fast-growing and award-winning real estate investment firm, who handles everything from acquisition to on-site property management within the multifamily industry. They have over 26 apartment communities in their portfolio, and their vision is to continue to grow their portfolio with plans for additional acquisitions in 2020.

With a desire to accelerate growth, the GSH team knew they needed to improve operational efficiencies and have the right tech stack in place to support their goals and one of their guiding principles of providing full transparency to investors.

Immediate answers to manage and measure an ever-growing portfolio

In their rapid growth, the team at GSH began to find it challenging to organize all of their property data that lives in multiple property management systems. Their current solution was a drawn-out manual process, involving cluttered Excel sheets. They were receiving various reports from different sources, all formatted differently, leaving the team stuck in an inefficient and inconvenient process.

“What we were doing worked when we had 6-7 properties, but when you are managing 3,500 units, it became too much.”

-Mataan Lis, Client Relationship Manager

Manually tracking and comparing property performance among their entire portfolio was difficult to establish in an efficient way to view current, past, and projected performance. With multiple projects to manage, including recent acquisitions of value-add properties, having a pulse on ROI is crucial.

To support their portfolio’s growth, the need to have one single source of truth of each property’s data and performance became a high priority. The GSH team believes in utilizing technology to explore new avenues of growth and opportunities. After review, it was clear that Lobby CRE was the technology partner to help them achieve their goals.

Results

Working off of 10 Excel sheets, unorganized datasets, and multiple property reports were eliminated with Lobby CRE. With the ability to have real-time access to all property data, the GSH team can compare property performance across the entire portfolio and monitor specific KPIs inside each property.

“Lobby CRE has provided a necessary capability to measure our portfolio, which is ever-growing,” said Itamar Laufer, Asset and Client Relationship Manager.

“Our team has been able to remove bottlenecks, automate some of our operational processes, and went from working off of 10 Excel sheets into one simple platform.”

-Itamar Laufer, Asset and Client Relationship Manager

Not only are they able to analyze properties faster, but the team has the ability to track each of their renovation projects from one report with Lobby’s Renovation Tracker. The Renovation Tracker provides quick answers to percent complete actual vs. target, expenses, overall budget vs. PTD actual, visualizations of budget thresholds, and completion progress.

Lobby has been a useful tool to scale GSH’s business, releasing the pressure from the data bottlenecking that was taking place, and providing the opportunity to focus on new projects and growth. With the ability to consolidate information and streamline reporting, the team is able to provide transparency and improved communication to their investors.

“We’re looking at properties every day with plans for additional acquisitions this year. The need to automate our operations, remove bottlenecks, and have a pulse on KPIs was critical to support the growth of our portfolio,” said Lis.

“With Lobby CRE, we can get immediate answers and measure our portfolio through one platform.”

-Mataan Lis

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