PRODA announced today that they have signed an agreement to roll out their software across the HIH Group. HIH Real Estate are one of Germany’s largest investment managers with over 35.3 billion euros in assets under management.
PRODA announced today that they have signed an agreement to roll out their software across the HIH Group. HIH Real Estate are one of Germany’s largest investment managers with over 35.3 billion euros in assets under management, as well as 786 members of staff spread across 11 countries in Europe. They offer a comprehensive suite of services covering the entire life cycle of commercial real estate investment and management.
In a first phase, the HIH Group companies Warburg-HIH Invest Real Estate and INTREAL will get to use the new IT solution. PRODA have developed machine-learning technology to standardise the core data source of the real estate industry – the rent roll. By automatically capturing, standardising and error-checking property data, PRODA significantly reduces the time required to synthesise multiple rent roll data sets into a standard format, enhancing the asset management process. HIH will be using the solution to increase the efficiency and accuracy of their rent roll data handling.
“Based on artificial intelligence, the PRODA software for the automated data processing of unstructured rent rolls solves one of the key digitisation challenges in the real estate industry. So, we quickly made up our minds that we want to integrate PRODA into the digital ecosystem of the HIH Group,” said Stefan Rath, Team Head Real Estate and Investment Management Applications at INTREAL Solutions.
“We’re very pleased to have HIH on board,” said Peter Bredthauer, CEO and co-founder at PRODA. “PRODA eliminates the manual processes associated with rent roll data and allows professionals to increase the accuracy of their decision-making capabilities. We’re excited to be able to work with such an important player in the German market.”
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PRODA is designed for institutional real estate investors, and any other professionals working with rent roll data, e.g. banks, brokers and surveyors. Users can drag and drop rent rolls into the system, and PRODA’s machine learning software will then automatically extract, standardise and quality-check all of the data, flagging anomalies. Insights can then be generated at the touch of a button.
HIH Group is one of Germany’s leading providers of holistic management services for real estate investments. Our service spectrum covers the entire life cycle of a given property, extending from property development to the structuring of real estate investments and all the way to asset management and property management.
We take pride in tailored investment solutions and an efficient investment fund administration. Our clients benefit from the extensive range of deliverables provided by each of our companies, the short lines of communication and the close collaboration within the HIH Group.With c. 35.3 billion euros in real estate assets under management and 786 employees at eleven different locations, we develop and control commercial real estate across Europe.
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