London, UK, May 2012– Yardi Systems, a leading global developer of software solutions for the real estate investment, asset and property management industry announces that RMB Westport has selected Yardi Voyager™ to manage their real estate development fund in Sub-Saharan Africa.
RMB Westport’s business model is to attract equity investment to develop ‘A’ grade retail, commercial and industrial properties in Nigeria, Angola and Ghana. Their focus is to increase property value through development and active asset management, making sound returns for their investors; the investment period is four years. The Sub- Saharan Africa economy is expected to outpace global growth.
“Very few systems offer an end-to-end solution which allows construction data to tie directly into funds and set up a fund structure,” Alan Wilson, chief financial officer at RMB Westport comments. “Voyager’s ability to fully integrate charts of accounts and internal cost structures was a key driver for us to select Yardi which we believe will provide us with the right tools to keep on track with our project operations and maximise return on investment for our investors.”
About RMB Westport
In July 2008, Property Finance, the real estate business within one of the largest South African banks, Rand Merchant Bank (“RMB”), and Westport Property Group (“Westport”) agreed to partner, bringing together the operating and development expertise of Westport and the structuring and investment expertise of RMB. RMB Westport invests in and develops real estate in Sub-Sahara Africa, focusingon “value-adding” transactions in which value creation is primarily achieved through the development or refurbishment, active management and positioning of real estate assets. They focus on geographical areas in which opportunities for this form of investment are plentiful and in which they have access to deals, relationships and the infrastructure necessary for the successful execution of these transactions. More information is available at www.rmbwestport.com.
Yardi has been committed to the design, development and support of real estate investment management and property management software for 30 years. With the Yardi Orion™ for SharePoint®and Yardi Voyager™ platforms plus the Yardi Investment Suite™, Yardi Commercial Suite™, and Yardi Multifamily Suite™, Yardi provides 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, the Middle East and North America. More information about Yardi products and services is available at www.yardi.com.uk.
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