Realty Income Adopts Yardi's ERP Platform

Commercial REIT chooses Yardi as its technology provider for property investment management software

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Aug 22, 2018, 14:00 ET

SANTA BARBARA, California, August 22, 2018 /PRNewswire/ --

In January 2018, Realty Income Corporation implemented the Yardi® single connected solution to manage its over 5,300 commercial properties in 49 U.S. states and Puerto Rico. The company consolidated multiple systems, enhanced business processes and reporting and integrated document management on the Yardi platform.

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"Streamlining business operations and centralizing data analytics and reporting provides us with a more complete and real-time picture of portfolio performance," said Sumit Roy, president and chief operating officer for Realty Income. "Moreover, we are excited about the future enhancements coming from Yardi, which will allow us to systematize and integrate additional business processes onto a single platform."

Products adopted by Realty Income include:

Yardi Voyager®, which allows them to host financial and operational data in the Yardi Cloud rather than onsite
Yardi® Investment Management, which enables rollups by property and entity
Yardi® Advanced Budgeting & Forecasting, which enables monthly budget reforecasting based on existing tenant lease data
Yardi® Fixed Assets, which integrates tracking of property, equipment and other types of related assets into the general ledger
Yardi® PAYscan™ (part of Yardi® Procure to Pay), which enables invoice processing approval workflows and check printing
Yardi® Document Management for SharePoint, which delivers a single, centralized content management solution
Yardi® Job Cost, which helps track costs, manage payables and generate reports for construction projects

"We are excited to be working with Realty Income and our ability to help enhance Realty Income's future business operations," said Terri Dowen, senior vice president of sales for Yardi.

Learn more about how the Yardi® Commercial Suite and Yardi® Investment Suite provide a complete system for real estate property and investment management.

About Realty Income Corporation
San Diego-based Realty Income Corporation is an S&P 500 company dedicated to providing shareholders with dependable monthly income. The company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 5,300 real estate properties owned under long-term lease agreements with regional and national commercial tenants. For more information, visit realtyincome.com.

About Yardi
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

SOURCE Yardi