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Making Faster, More Informed Decisions & Increasing AUM with VTS

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Asset type

Ofice, Retail, Industrial, Multifamily, Residential, Hotels

Portfolio size

$16B Assets under management

Regions

Western U.S., Europe

Kennedy Wilson is a publicly-traded, global real estate investment firm with over $16 billion in assets under management. It focuses on acquiring, enhancing, and scaling undervalued office, retail, industrial, hotel, multifamily, and residential assets in select high-growth markets. As a powerhouse in the world of commercial investing, the firm holds a deep commitment to delivering value to its clients and shareholders through making responsible, informed decisions as quickly as possible.

To uphold this commitment, Kennedy Wilson began looking for a technology solution that would enable it to increase investment returns. The team realized that a system which enabled them to capture accurate, real-time data would help them make better decisions at the property, portfolio, and fund levels, ultimately giving them a strong competitive advantage and increasing AUM. That’s where VTS came in.

Whether you’re trying to get a lease done or buy an asset, it’s not always the highest price or the person who is willing to pay the most. In a lot of cases, it’s how fast you can move... The impact of VTS on the deal cycle? It speeds everything up."

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Evan Kantor

Managing Director - Commercial Investments

Challenges & Roadblocks

Why Kennedy Wilson needed to transform its approach to leasing & asset management

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Increased portfolio transparency

Kennedy Wilson needed a more seamless, central solution to store the information, documents, and metrics required by senior team members to review and approve deals. Prior to VTS, executives were informed about the deal’s history, the metrics behind it, and its comparison to the asset’s original underwriting by other team members, which added time to the approval process.

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Opportunities for enhanced leasing communication

Deal updates from brokers were not shared in real-time, rather they were circulated by brokers about 10 minutes before the weekly leasing call. As a result, instead of discussing strategy and making decisions, meetings were spent reviewing spreadsheets to understand the status of deals in progress.

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Data management improvements

Accurate, real-time data has helped prevent mistakes caused by human error and improved Kennedy Wilson’s data management processes. Simple regular updates like stacking plans and rent rolls are now built into quarterly reports and presented to the chairman, CFO and ultimately, the Wall Street analysts determining the value of the firm’s stock.

Solution

Transforming the leasing and asset management process at Kennedy Wilson

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Accelerated Deal Cycles

Kennedy Wilson’s entire leasing process is now managed in VTS, increasing transparency and speeding up deal cycle times. All team members can instantly understand the progression of any deal, from proposal, to LOI to lease, allowing them to make more informed decisions and approve deals faster. And with the VTS mobile app, this information can be accessed from anywhere.

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Increased conversion rates

Kennedy Wilson’s approach to managing its deal pipeline is now far more efficient. Every broker is trained on VTS, and with prospect information shared before leasing meetings, this time is now spent talking about deals that are actionable, strategically moving them through the pipeline, removing barriers, and analyzing the competition.

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One source of accurate, real-time data

As opposed to being managed by multiple people in disparate accounting and property management softwares and spreadsheets, Kennedy Wilson’s data is now centralized in VTS. The team has a single source of clean, consistent, and real-time data that enables them to make more informed decisions that increase returns, faster

Results

-41%

in average days from proposal to executed lease

1.5X

deal conversion rate improvement

0.9 days

average time for updates to be entered into VTS

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