PRODA, the UK-based proptech start up, today announced that Tristan Capital Partners has deployed its first-of-a-kind machine learning tool, which automatically captures, standardises and analyses rent roll data used in the institutional real estate market. The cloud-based software “PRODA” has been extensively tested by a number of industry-leading brokers and asset managers during the past year. Tristan is among the first organisations to adopt PRODA in order to advance its investment and asset management decision-making processes.
Tristan Capital Partners has more than €10.5 billion of assets under management (AUM), which it manages on behalf of its global institutional client base. The company has rolled out PRODA following its own extensive pilot programme. Its investment and asset management professionals are now using PRODA to standardise reporting on rent roll data and make faster, data-led decisions on future deals.
“At Tristan, we are increasingly looking for innovative technologies to improve efficiency and enhance the value we create for our clients,” said Jean-Philippe Blangy, Senior Partner, Tristan Capital Partners. “Rent roll data is the foundation of our day-to-day work in asset and investment management; it’s vital that it’s both accurate and consistent. PRODA takes away much of the legwork associated with managing these complex, dynamic data sets, enabling our teams to produce reports and access actionable insights at the touch of a button.”
Synthesising multiple rent roll data sets by hand is time-consuming, creating delays in the reporting cycle, slowing down investment decisions, and risking revenue generation. PRODA enables real estate professionals to solve this problem without any requirement to restructure any of their existing workflows. It uses machine learning to ingest rent rolls, standardise formats, validate data and automatically track changes from previous versions to continually ensure the consistency and accuracy of the data. This data can then be outputted in any format.
“The Tristan team understands the power and opportunity that lie in automating the management of rent roll data; it also recognises how, by leveraging data sets, it can supercharge its decision-making processes,” said Peter Bredthauer, co-founder and CEO of PRODA. “By normalising, cleaning, and error-checking multiple silos of tenancy data, PRODA provides a solid base that can be used to streamline further operations.”
PRODA is designed for institutional real estate investors, and any other professionals working with rent roll data, for example, 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.
PRODA’s machine learning software automatically captures, standardises and quality checks the rent roll data used within the institutional real estate market. Co-founded by two ex-fund managers, the company’s goal is to empower real estate professionals to quickly gain actionable insights from their data and use management systems more effectively.
ABOUT TRISTAN CAPITAL PARTNERS:
Tristan Capital Partners is an employee-controlled investment management boutique specialising in real estate investment strategies across the UK and Continental Europe. Tristan’s pan-European real estate funds include core-plus and value-added/opportunistic strategies with total assets under management of over €10.5 billion. Tristan is the portfolio manager for core plus funds Curzon Capital Partners III, Curzon Capital Partners IV, Curzon Capital Partners 5 Long-Life LP and for the private equity funds European Property Investors, LP, European Property Investors Special Opportunities, LP, European Property Investors Special Opportunities 3, LP and European Property Investors Special Opportunities 4 LP and European Property Investors Special Opportunities 5 SCSp. Tristan’s headquarters are in London and it has offices in Luxembourg, Milan, Paris, Stockholm, Frankfurt, Madrid and Warsaw.
Michelle Edge / Claire Ayles
Eleven Hundred Agency