Yardi Systems, Inc., announced today that TimesSquare Real Estate Investors has chosen the Yardi Enterprise software solution to manage their extensive portfolio of institutional-grade investment property. TimesSquare's experience in commercial real estate investing spans four decades and includes expertise in office, residential, retail, research and development, warehouse, industrial, and hotel properties. TimesSquare Real Estate Investors, headquartered in Hartford, Connecticut, is a division of TimesSquare Capital Management, which is a subsidiary of CIGNA Corporation.

In looking to enhance its internal analysis capability and expand its investor reporting abilities, TimesSquare decided to replace the existing MRI system with Yardi. "The functionality of the Enterprise suite can accommodate TimesSquare's complex investment structures and portfolio reporting requirements," says Bruce Morris, Yardi Vice President of National Sales. "The Yardi Conductor Report Manager will assist TimesSquare in meeting its goal of providing more property-level information to investors by automating the generation and distribution of investor oriented reports."

TimesSquare Real Estate Investors manages 125 properties, including 4,600 residential units, 23.1 million square feet of commercial space, and 2,500 hotel rooms. Yardi Enterprise Property Management offers the functions, features, and scalability necessary to address the demands of managing TimesSquare's operations. Yardi's integrated system will enable third-party property managers at approximately 45 sites to process real-time information remotely using Citrix technology. The hotel management functions will continue on hotel-oriented software, with summary financial data imported into Yardi. Data and reporting from an existing Times Square proprietary system, originally created to track non-property data and data on proper ties in the acquisition phase, will also be integrated with Yardi. Enterprise's open Oracle database structure and standard SQL report writing capabilities will accommodate TimesSquare's changing needs as they continue to explore new ways to leverage information and perform meaningful analysis of its investment portfolios.