New Two-Way Data Flow Builds Upon the Longstanding Partnership Between the Two Proptech Leaders
NEW YORK, NY, June 08, 2023 —VTS, the commercial real estate industry’s only technology platform that unifies owners, operators, brokers, and tenants to capitalize on opportunities revealed in every square foot of their properties, today announced that it has expanded its partnership with MRI Software, a global leader in real estate solutions. This key partnership enables a two-way integration between VTS Lease and MRI Commercial Management to provide a 360-degree flow of portfolio and financial data between both solutions. Customers of VTS and MRI will be able to gain unmatched visibility through a streamlined, continuous flow of insights.
The expanded integration builds upon the longstanding relationship between VTS and MRI, which dates back to 2015. In 2018, VTS was recognized by MRI as Partner of the Year, receiving an Innovation Award at the annual MRI Ascend users conference. Today, the two proptech leaders share more than a hundred customers worldwide.
“Our partnership with MRI has always been about servicing the needs of both of our customer bases, as well as the industry at large, and this new integration unlocks an unprecedented level of portfolio insights,” said Nick Romito, CEO of VTS. “We now have a bidirectional flow of information between the two systems – providing our customers with an efficient experience but more importantly a necessary source of truth as they navigate the current market.”
“We are proud to build on our successful relationship with VTS and offer this integration to our clients,” said Patrick Ghilani, CEO of MRI. “MRI and VTS have a shared vision to move the industry forward by empowering real estate businesses with open and connected technology that drives confident, strategic decision-making. Access to a centralized hub for reliable portfolio and financial insights is key to achieving this.”
“The expanded partnership between VTS and MRI creates a strategic vehicle for owners and operators to manage operations and execute strategy more effectively through the enhanced level of insights it provides,” said Aaron Russell, Head of Asset Management at Lionstone Investments. “This new integration addresses the needs of the industry today, by providing teams with data in the most frictionless way possible.”
The VTS/MRI integration comes at a time when clean, accurate, data is proving key for the industry. Implementing numerous, siloed solutions is inefficient and costly for commercial real estate firms, and increasingly simplicity is key. The expanded integration will provide insights about tenants, renewals, as well as new deal pipeline and prospects – creating complete visibility across the portfolio and eliminating the need for multiple points of data entry.
The VTS Platform is the source of truth for the commercial real estate industry, serving as its modern operating system, where the industry can leverage technology that reinvents how businesses operate and creates unique datasets that transform the way decisions are made across the asset lifecycle. With new data and insights, VTS unlocks pivotal information that is at the center of every critical strategic investment and decision commercial real estate stakeholders make. Providing complete visibility across a portfolio, VTS enables customers to more proactively fill leases, market spaces more quickly and efficiently, and build sustainable relationships with tenants, all while unlocking the insights needed to inform strategy. This allows customers to increase their portfolio value by improving market position, retaining valuable tenants, and building investor trust.
About VTS
VTS is the commercial real estate industry’s only technology company that unifies owners, operators, brokers, and tenants in a single platform to capitalize on opportunities revealed in every square foot of their properties. In 2013, VTS revolutionized the commercial real estate industry’s leasing operations with what is now VTS Lease. Today, the VTS Platform is the largest first-party data source in the industry, transforming how strategic decisions are made and executed by CRE professionals across the globe.
With the VTS Platform, consisting of VTS Lease, VTS Market, VTS Activate, and VTS Data, every business stakeholder in commercial real estate is given real-time market information and workflow tools to do their job with unparalleled speed and intelligence. VTS is the global leader, with more than 60% of Class A office space in the U.S., and 12 billion square feet of office, retail, and industrial space is managed through our platform worldwide. VTS’ user base includes over 45,000 CRE professionals and industry-leading customers such as Blackstone, Brookfield Properties, LaSalle Investment Management, Hines, BXP, Oxford Properties, JLL, and CBRE. To learn more about VTS, and to see our open roles, visit www.vts.com.
Contacts
Eric Johnson
eric.johnson@vts.com
