London's £1 billion renovation project to be managed on Yardi's flagship cloud-based property management, budgeting, forecasting and accounting platform
LONDON, June 11, 2019 /PRNewswire/ -- Olympia London, a major mixed-use redevelopment project owned by Yoo Capital and Deutsche Finance, will be managed with Yardi Voyager®, a cloud-based and mobile-enabled property management, construction, leasing and accounting platform. The redevelopment of Olympia London will entail the transformation of the 130-year-old centre into a mix of exhibition, commercial, coworking, leisure and retail space.
In conjunction with Yardi Voyager, Yoo Capital has also adopted Yardi® Job Cost, a cost control solution that tracks budgets and improves forecasts, and Yardi® Procure to Pay, an end-to-end procurement solution that simplifies vendor management, provides complete visibility into spending and enables paperless invoicing.
"We chose to invest in a modern technology platform to power the success of this high-profile project from the ground up. Replacing spreadsheets and offline systems, Yardi's solutions will deliver a fully-connected development and accounting platform with intuitive reporting for project cost tracking. Yardi Voyager will then be utilised to manage developed assets post development," said Andy Colman, finance director of Olympia London.
"We're very pleased to be part of such an exciting project, and to be providing a technology solution that will support the successful redevelopment of Olympia London," said Neal Gemassmer, vice president of international for Yardi. "We are looking forward to helping manage all aspects of the development and supporting longer term operational success after the project is completed."
Learn more about how Yardi is supporting clients in the UK and across Europe.
About Yoo Capital
Yoo Capital, part owner of Olympia London, is a private partnership with over $1.0 billion of AUM and 1.7 million square feet across Greater London in hospitality, leisure, retail, commercial, residential and real estate operating companies. The firm specialises in high value creation, turnarounds and special situations in urban regeneration, corporate opportunities, restructuring and world-class place making. The firm recently signed major capital commitments with Deutsche Finance, a global German institutional investor, and is actively focused on identifying and investing into real estate special situations. For more information, visit the Olympia London website.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in Australia, Asia, the Middle East, Europe and North America. For more information, visit yardi.com/uk.