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A Case Study In Lowering Costs and Driving Value
Priam Properties is a mid-sized real estate private equity firm focused on office properties throughout the Southeast of the United States. They wanted to grow quickly, but maintain flexibility through a lean staff and operation.
In 2016, Priam implemented Leverton in order to reduce the overhead and time spent on reviewing leases during due diligence and ongoing property management/lease administration. Leverton was chosen due to the highly accurate set of data that was produced and the ease of which the data could be audited.
The solution included lease abstraction of 800 data points covering critical dates, dollars renewals, terminations, ROFO/ROFOs, audits, subleases, CAM, TI, and many more advanced topics. Lease review time was reduced from over 8 hours to 1-2 hours with 24-48 hours turnaround times achieved. The portfolio grew from 100 leases to 400 in 18 months, with Leverton supporting each transaction.
Accurate And Efficient Contract Review
QTS, the leading provider of data center solutions, needed to access data from its contracts on demand. The increasing volume of contracts and lack of uniformity made contracts difficult to organize, manage, and update. The manual review was too time-consuming and difficult due to non-standard/custom fields. In addition, in 2018, QTS decided to sell a portion of its business to a partner. Part of that process required the Legal Department to manually review hundreds of customer contracts and create a report which took hundreds of man-hours.
The solution included a fast, cost effective, and accurate data abstraction process, customized integration, and tailor-made data model for client’s contracts.
Using the Leverton platform, QTS can now run a report on assignability and notice addresses in a matter of minutes saving an estimated 80 man-hours.
This enables QTS’ resources to focus on high-value activities instead of low-value activities.
Leverton is an invaluable partner. Each employee we have worked with has gone above and beyond to help QTS create custom data models and yield accurate results. The Leverton platform continues to perform beyond our expectations. QTS is proud to be a partner with MRI Software and looks forward to continuing to digitize our portfolio.
Director, Associate General Counsel
Leverton accelerated the process of turning unstructured data into insightful data that we could further utilize for Knowledge Cubed, our data visualization and analytics platform. For Savills, utilizing Leverton has led to efficiencies and more accurate data that our clients can depend upon through our brand and values. Leverton’s collaborative and entrepreneurial spirit allowed us to innovate alongside with them.
We chose Leverton due to highly accurate set of data that was produced and the ease of which the data could be audited, which was essential for our growth as a fund. Through the use of Leverton, we estimate we were able to save over 50% on our lease abstraction costs and reduce due diligence time by at least 7 to 10 business days.
CEO & Founder, Priam Capital
Our partnership with Leverton will increase customer experience and drive efficiency of our lease management platforms. AI is essential to our plan as a Company to drive value for our customers.
Global CEO, JLL