Top 10 Canadian Real Estate Investment Trust now using VTS; Winnipeg-based company will add 24 million square feet of office, industrial and retail space onto the platform to manage portfolio-wide leasing in real-time
New York, NY – November 14, 2018: VTS, the commercial real estate industry’s leading leasing and asset management platform, today announced that Artis REIT (Artis), one of the largest diversified commercial real estate investment trusts in Canada, has selected VTS to manage its leasing and asset management processes. The company will bring 10 million square feet of office, 10 million square feet of industrial, and 4 million square feet of retail space across the U.S. and Canada onto the VTS leasing and asset management platform.
The VTS platform will enable Artis to modernize and standardize portfolio operations, and will give the team complete visibility into overall occupancy and availabilities. Using VTS offerings including VTS Tenant Relationship Management (TRM), VTS Deal Approvals and Tasks, and reporting functionality, Artis will be able to accelerate deal velocity and produce higher-quality reports for shareholders instantly. VTS will be fully integrated into Artis' accounting system and be the system of the record for the business teams.
“VTS is extremely proud to welcome Artis REIT, one of Canada’s top 10 real estate investment trusts, to the platform,” said Nick Romito, CEO and Co-Founder of VTS. “VTS will enable Artis’ teams to make faster and more informed leasing decisions that drive performance across its significant portfolio. We couldn’t be more excited to work with the Artis team as they transform their approach to leasing and asset management and completely modernize their organization.”
“What attracted us most to VTS is the ability to gain real-time transparency across our portfolio, which will allow us to understand our exact occupancy and vacancy rates, and pinpoint where we need to focus our leasing efforts,” said Jim Green, CFO of Artis REIT. “By managing our end-to-end leasing process on VTS, our teams can make more strategic decisions and close deals faster. Furthermore, the ability to instantly generate reports that reflect accurate, up-to-date information for our shareholders is a gamechanger.”
The VTS platform manages more than 9 billion square feet of office, retail, and industrial commercial real estate, has a user base exceeding 34,000 and boasts an impressive client roster that Artis REIT now joins. VTS recently announced plans for VTS MarketView™, the commercial real estate industry’s first-ever foray into real-time benchmarking and market analytics. With MarketView, VTS’ clients will be able to compare, in real-time, their performance versus market benchmarks for critical operational, financial, and supply and demand metrics, enabling commercial real estate landlords to optimize their leasing performance and drive better leasing and investment decisions.
VTS is the commercial real estate industry’s leading leasing and asset management platform. Landlords use VTS to maximize portfolio performance by transforming their leasing and asset management process, enabling them to acquire the right tenants faster, sign the right deals at the best economics, and optimize the renewal process – reducing costly downtime. Brokers can manage their deal pipeline and get tenants into empty spaces faster, collaborate across teams and work easily with their landlord clients using VTS for Brokers.
VTS is the driving force behind the industry's shift toward real-time data – the platform manages over 9 billion square feet and a user base exceeding 34,000, boasting an impressive client roster that includes top names such as Beacon Capital, Blackstone, LaSalle Investment Management, Hines, Boston Properties, JLL and CBRE.
About Artis REIT
Artis is a diversified Canadian real estate investment trust investing in office, retail and industrial properties. Since 2004, Artis has executed an aggressive but disciplined growth strategy, building a portfolio of commercial properties in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and select markets in the United States. As of June 30, 2018, Artis' commercial property comprises approximately 24.5 million square feet of leasable area.
During the three months ended June 30, 2018, Property Net Operating Income ("Property NOI") by asset class, including Artis’ proportionate share of properties held in joint venture arrangements, was approximately 53.1% office, 20.6% retail and 26.3% industrial. Property NOI by geographical region, including Artis’ proportionate share of properties held in joint venture arrangements, was approximately 4.2% in British Columbia, 21.6% in Alberta, 6.1% in Saskatchewan, 13.2% in Manitoba, 11.3% in Ontario, 8.7% in Arizona, 18.4% in Minnesota, 9.1% in Wisconsin and 7.4% in U.S. – Other.
Property NOI is a non-GAAP measure. Artis calculates Property NOI as revenues less property operating expenses such as utilities, repairs and maintenance and realty taxes. Property NOI does not include charges for interest or other expenses not specific to the day-to-day operation of the REIT's properties.
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