Case Study
"Before VTS, we were in the dark ages. There were things we didn’t know that we didn’t even know. Now, we can make much more informed and easier decisions."
Jonathan Kaufman Iger, CEO
Sage Realty Corporation
BY ASSET TYPE
Office
PORTFOLIO SIZE
3M SF
REGIONS
NYC
Sage Realty Corporation is the leasing and management arm of the William Kaufman Organization, a celebrated New York real estate company established over 90 years ago. Together, the two companies manage and lease over three million square feet of Class A commercial office space in New York City. Since their founding, Sage has believed in the importance of taking a data-driven approach to leasing and managing their properties. When Sage was introduced to VTS, they were looking for a platform to help them get the insights they need to create the best portfolio strategies and scale the company.
These insights would enable them to see which products they should take to market and understand how they should invest capital. Since becoming a VTS customer seven years ago, their leasing and asset management processes have changed dramatically.
CHALLENGES & ROADBLOCKS
Inefficient leasing process
Sage had no easy way to manage the leasing process. The leasing team recorded deal updates across many documents. This made it difficult for everyone, including executives, to easily understand how deals were progressing. They spent their weekly leasing meetings reviewing updates instead of moving deals forward or identifying bottlenecks in the process.
Time wasted compiling portfolio information
While Sage took a data-driven approach to leasing and asset management, Excel couldn’t give them the insights they needed. Information was spread across many spreadsheets and didn't come with any added context. The team spent a lot of time compiling the information but couldn’t easily understand if their investment strategy was on-track.
Unable to provide instant data to limited partners
Sage provides reports on portfolio performance to their investors and limited partners — and needs to support that performance with clear, accurate data points. But with no central location to store the needed information, they couldn't easily create these reports. At times, this made it difficult for Sage to easily understand portfolio performance at any given moment.
SOLUTION
Reduced Deal Cycles
With VTS, Sage is closing deals faster. Their leasing and property managers are managing deals in VTS and the team now has full visibility into the progression of every deal. Everyone receives real-time updates via the mobile app and is able to make the fast decisions needed to move deals forward quickly. And thanks to daily emails and automated alerts, executives have a clear understanding of portfolio activity without the unneeded details.
Actionable insights to make the best decisions
With their data centralized in VTS 3, the team has immediate access to the insights they need to make sure they’re on track with their investment strategies. And by understanding performance at a granular level, they can identify the most profitable product oferings to bring to market.
Ability to provide immediate updates to limited partners
Sage’s executives have easy access to the real-time information they need to explain portfolio performance to their limited partners. And with that data at their fingertips, they can dive deeper into any extra contextual information needed for a full explanation. As an owner, Sage needs to justify their limited partners’ investments — and real-time data supports their argument.
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