Collaboration Enables Record Data Submission by Commercial Real Estate Operators
CHARLOTTE, North Carolina, October 5, 2022 /PRNewswire/ — The National Apartment Association (NAA) and IREMⓇ (Institute of Real Estate Management), in partnership with Lobby CRE, a centralized financial and operational data platform for commercial real estate properties, has released nationwide real-time real-time benchmarks for 2022. An unprecedented number of 9,600 submissions were collected from real estate operators. across the country through an innovative digital process that makes it easier than ever to submit and collect data. Digitally upgraded credentials provide real-time access and make it easy to identify actionable insights and opportunities that improve operational efficiency for owners and tenants.
The NAA and the IREM have published annual real estate repositories for several decades; however, the process historically required manual submission, aggregation, mapping and analysis to create benchmarks between asset classes. To streamline the process and increase value for members, Wendy BeckerVice President, Knowledge Solutions of IREM, brought together IREM, NAA and Lobby CRE.
“Benchmarking is essential to effective and successful property management,” Becker said. “And now, in partnership with Lobby CRE and the NAA, we are able to streamline the submission process and expand data collection. The result is a robust product that provides greater insight into construction operations.”
Collaboration with Lobby CRE helps IREM and NAA members get faster insight into an asset or portfolio’s performance based on 2021 asset performance data. benchmark is available to all industry players. The 2022 National Summary will be released this fall.
“NAA is proud to be part of this innovative collaboration alongside IREM and Lobby CRE – the results of this partnership are already evident,” said Bob Pinnegar, President and CEO of ANA. “This year’s income and expense survey, the first under this partnership, garnered over 9,600 submissions. This is a significant improvement in participation over our previous survey on income and expenses, which has averaged 3,400 properties per year for the past five years.Our efforts to create financial benchmarks for our members has fostered more comprehensive data, allowing them to make more informed decisions about where invest their time and resources.
Recognized by the NAA, IREM and more than 500 corporate industry stakeholders, Lobby CRE manages and optimizes cash flow for faster returns for investors and project sponsors. The platform automates, normalizes and visualizes operational and financial asset and portfolio performance, including providing market and sub-market benchmarks in partnership with IREM and NAA. These benchmarks unlock the ability to compare “apples to apples” within the MSA, exploring asset classes, number of units, and square footage ranges.
“We look forward to expanding and deepening our partnerships with NAA and IREM. Our goal in 2023 is to provide monthly referrals, so stay tuned!” said Anne HollanderCEO of Lobby CRE.
About CRE Lobby
Lobby CRE transforms commercial real estate asset management with automated operational and financial data capture, intelligent performance analysis and reporting, industry benchmarking, and configurable dashboards, all in one platform. Lobby CRE creates the opportunity to “see around the corner,” quickly capturing critical information that drives performance in operations management, debt management, and entity management.
The National Apartment Association (NAA) is the leading voice and resource through advocacy, education and collaboration on behalf of the rental housing industry. As a federation of 141 state, local, and global affiliates, the NAA has more than 92,000 members representing more than 11 million apartments worldwide. NAA believes that rental housing is a valued partner in every community that emphasizes integrity, responsibility, collaboration, community responsibility, inclusivity and innovation.
For over 85 years, our members have made us the loudest voice in the world for all things property management. Nearly 20,000 leaders in commercial and residential management call this home for education, support and networking home. Our CPM®ARMS®ACoM and AMO® Certifications are internationally recognized symbols of ethical leadership and well-managed ownership. And our tools offer decades of on-the-job know-how to help members get even better at what they do. Simply put: IREM and its members are here to elevate the profession.
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SOURCE CRE Lobby