Taliance, a leading developer of IT solutions for the investment-property market, has won a major US contract. The Europe-based software company is working with Harrison Street Real Estate Capital (“Harrison Street”) of Chicago to implement Global Fund, the world’s first software to deliver instant accurate reporting combined with real-time modelling and data management capabilities for fund and investment managers.
Currently Harrison Street and its affiliates manage around $4.0 billion in property assets and publicly traded securities through multiple investment vehicles on behalf of pension funds, endowments, insurance companies, foundations and family offices. Since its inception in 2005, Harrison Street has grown to include a real estate portfolio of approximately 250 properties across the United States with approximately 45 joint venture partners or third party managers.
“We want to continue to innovate in our industry. This level of data mining will help to further enhance our risk assessment, asset management, forecasting and analysis,” says Chris Merrill, Harrison Street president and CEO.
“We interviewed a number of software providers, but Taliance provided the most flexible option for our speciality sectors,” adds Tonia Rumrill Nelson, Harrison Street senior vice president. “We liked that Global Fund offers greater control of our data combined with easy accessibility and reduced risks.”
Taliance operations director Bruno Fiastre explains: “I first met Harrison Street in June 2012 and since then have worked with them as a consultant, reporting on their challenges and recommending solutions to address these.
“We could see that the move to a strong, feature-rich modeling tool, which would consolidate both asset and fund data, would help the company further reduce risk and produce even better results for its clients. As a result we are implementing Global Fund with an expected project completion date of March 2013.
“We are delighted to introduce Global Fund to the US and believe that our work here will help us make further inroads into this important market.”