GlobeNewswire
2010-03-10
Resolve's Investment Management Software Consolidates
Information From Multiple Sources to Provide Centralized
Analysis of Key Metrics and Real-Time Reports and Dashboards
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.
CONTACT: Resolve Technology, Inc.
Olive Chang
617-338-0456 x 1001
OChang@resolvetech.com
CoStar Group
Vikki Kayne
301-280-3858
vkayne@costar.com