CASE STUDY
CapREIT needed a flexible platform to capture assessed capital expenditures associated with acquisitions. The tool also needed to aggregate capital expenditure forecasts across the entire current portfolio of assets.
THE CLIENT
CapREIT is one of the world’s largest real estate investment trusts managing over 70,000 residential rental apartment and townhouse suites and manufactured home community sites in major urban centres across Canada, the Netherlands and Ireland. With a proven track record of excellence, the company was committed to implementing an enterprise grade solution to manage CapEx and risk.
OVERVIEW
CapREIT was managing their capital expenditure projections on a legacy system with inefficient workflows and no mobile interface to allow site managers to input and access information.
CHALLENGE
The key challenges included:
- Requirement to capture projected CapEx from due diligence audits on acquisition targets.
- The ability to manage Building Assessment Reports in a centralized document repository.
- Manage CapEx forecasts across the existing portfolio.
SOLUTION
The Refined Data platform is now home to every aspect of CapREIT’s CapEx and risk management operations. The solution provides a unified view of the foretasted capital expenditures at each property, as well as the portfolio as a whole. This new-found visibility helps protect CapREIT from the downside and provides welcome new operational efficiencies.
Operations Management
CapREIT has branded the Refined Data platform “Ops-in-a-Box”, and is using the solution to power every aspect of their
site and corporate operations.
CapEx Risk Management
CapREIT is now able to manage every aspect of CapEx, including Building Condition Assessments, expenditures.
Sustainability & ESG
The platform is managing CapREITs reporting into GRESB, as well as monitoring the overall certification and renewal process at every facility.
RESULTS
The implementation of the Refined Data system at CapREIT has been a success. We worked closely with the team to identify how the platform could be configured to manage activities like mortgage underwriting that were not part of the original scope. The flexibility and agility of the solution has allowed us to manage a wide range of work flows that are central to CapREIT’s business.
LABOR
SAVINGS
10,000 Hours Per Year
FINANCIAL SAVINGS
$400,000 Per Year
Cap-EX and ORM SPEND
30% Lower
“We are very happy with how the platform performs, it’s value and how easy it is to use. We also really appreciate Refined Data’s commitment and professionalism”
ABOUT REFINED DATA
Refined Data is constantly working with our customers to discover how we can simplify work flows, save time and ease burdensome work.
- Submit reports directly into SharePoint.
- Dashboards providing visibility across the portfolio.
- Access files from anywhere using the Mobile App.
- View task loading and completion at any site.
- Identify when a site needs additional resources.
