Case Study
"[We] used to be on the phone with brokers for an hour and a half every single day. With VTS, it’s down to 30 minutes at most. That’s an additional 5-6 hours a week to focus on new acquisitions."
Scott Doksansky, Managing Director
The Ardent Companies
BY ASSET TYPE
Office, Retail
PORTFOLIO SIZE
1.5M RSF
REGIONS
Southeast
The Ardent Companies is a group of companies operating as a privately-held real estate investment and asset management firm. The Atlanta-based investor focuses on acquiring value-add properties in the Southeast, Northeast, and Midwest regions of the United States. Their four million square foot portfolio consists of urban and suburban office buildings, high street retail, shopping centers, and flex industrial assets. The Ardent Companies is a very hands-on investor, but manually managing their growing number of tenants and properties was becoming a challenge. They needed a more effective way to communicate and develop business insights and turned to VTS for help. Since becoming a VTS, their leasing and asset management processes have been transformed.
CHALLENGES & ROADBLOCKS
Inefficient leasing process
To get detailed insights into asset activity, Ardent took a very hands-on approach to manage their leasing. They talked to their brokers for at least an hour and a half every day — in addition to bimonthly leasing calls and quarterly reports. But even after this significant time commitment, Arden still felt reactive when it came to tenant churn and renewals.
SOLUTION
More efficient leasing process
With VTS, Ardent has a much more efficient leasing organization. With their deal updates and tenant information managed in a single platform, they now have real-time alignment with their brokers. They easily stay on the same page without time-consuming daily phone calls. In fact, the team is now more proactive about tenant churn, kicking off the renewal or touring process sooner than they would have before.
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