NEEDHAM, Mass., March 10, 2010 (GLOBE NEWSWIRE) -- KBS Realty Advisors, one of the nation's leading commercial real estate investment advisors, selected Resolve Technology to provide software solutions for information access, analysis and reporting in support of the management of investment performance and risk assessment.
KBS was ranked #3 in a June 2009 survey of the top commercial real estate buyers in the United States conducted by Commercial Property News. According to the survey, KBS had $6.5 billion in assets under management.
"The new software is designed to accept data from a variety of different sources," commented David Snyder, CFO of KBS Capital Advisors and the KBS family of REITs . "This includes transactional, financial analysis, occupancy and risk concentration data. By eliminating spreadsheet-based aggregation and reporting, we believe the Resolve software platform will improve the productivity and timeliness of our reporting."
"We selected the Resolve solutions to provide us with a 'single version of the truth' that aggregates financial analysis and accounting data into a single data warehouse," said Carol Shumway, vice president of REIT reporting and compliance at KBS. "We also expect Resolve to improve benchmarking and trend analysis of key metrics, providing real-time self-serve access to dashboards and reports."
KBS has contracted to implement Resolve's Request and Portfolio Maximizer solutions. Request is a business intelligence solution built to address the information needs of real estate investment managers. By consolidating real estate investment data from disparate sources, Request helps investment managers reduce their reliance on spreadsheets, providing a standardized and extendable foundation for real estate investment reporting and analysis. Users can easily access the Request reports and dashboards through a Web-based interface and utilize dynamic charting and dashboards for real-time analysis of the information, minimizing the reliance on specialized resources and reducing the time lag involved in conventional report creation.
KBS intends to use Request to streamline its reporting processes, including the analysis of variances, tenant exposure and accounts receivable. KBS will also be able to incorporate its ARGUS Software forecasting data into the Request reports, leveraging Resolve's partnership with ARGUS. Portfolio Maximizer will be used to help KBS investment managers develop financial models and create multiple what-if scenarios to assess the impact of investment decisions. Portfolio Maximizer can be used to calculate waterfall distributions and fees, model and analyze debt obligations, consolidate historical and pro-forma financial and property data, and automatically generate investment performance and risk metrics such as IRR, NCREIF Yields, LTV, and DSCR.
"We are proud that a forward-thinking company such as KBS has selected Resolve as a partner," said Resolve CEO Eric Forman. "We look forward to working with the KBS team to enable its managers and decision-makers to operate with greater insight, confidence and speed."
About KBS Realty Advisors
Founded by Peter Bren and Chuck Schreiber in 1992 as a private equity real estate company, KBS Realty Advisors is a SEC-registered investment advisor. KBS and its affiliate, KBS Capital Advisors, invests in, manages and sells high-quality U.S. commercial real estate assets for institutional, corporate and private investors. Since 1992, KBS has completed transactional activity of approximately $16.5 billion via 19 separate accounts, six commingled funds and two private equity REITs. For more information, visit www.kbsrealty.com.
About Resolve Technology
Resolve, a company of CoStar Group, Inc. (Nasdaq:CSGP), the number one provider of information, marketing and analytic services to the commercial real estate industry, 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, REIT's, 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 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's filings from time to time with the Securities and Exchange Commission, including CoStar's Form 10-K for the year ended December 31, 2009, under the heading "Risk Factors." All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements.