Overview

Founded in 2013, Urban Asset Advisors is a privately held firm that invests in and develops income-producing commercial real estate projects in major urban markets throughout the Portland-Vancouver metropolitan area. The firm works in partnership with families, private investors and institutions to lead a number of development ventures throughout the area.

Urban Asset Advisors also uses their extensive experience in commercial real estate to advise their clients and even negotiate on their behalf when buying and selling investments. Detailed analytical research and strategic metrics, mixed with their vast knowledge of the local market, ensures their clients receive the maximum value for their development properties.

The Challenge

Urban Asset Advisors recognized the need for a software solution that could curate feasibility for their various development projects and planned business growth. Accurate calculations were a top priority for the firm’s partners as they used manually-developed formulas in previous positions and understood the many risks that came with this process.

In addition to needing projections they could trust, Urban Asset Advisors wanted a tool that was both efficient and flexible, as their requirements differed for each project. With a wide-ranging portfolio of new construction, acquisition and renovation of mixed use and multi-family properties, they needed software that would calculate feasibility consistently among a variety of projects and types.

The Solution

ARGUS Developer provides deep analysis to compete in fast-paced market

Having worked with ARGUS Developer in the past and confident of its capabilities, founding partner and Executive Vice-President Blaine Whitney insisted they implement the software from Urban Asset Advisors inception. He knew the software could prepare a deep analysis of new projects, quickly run different scenarios and offer accurate performance modelling, which was what they would need to stand out amongst other development firms and stay competitive in such a fast-paced market.

The company currently employs ARGUS Developer to create models they can use from the feasibility step all the way to the construction phase of a development project, as well as quickly model completely different finance structures down to individual phase levels. Additionally, Urban Asset Advisors has developed modified MS Excel output templates for their reporting needs, allowing them to export consistently formatted reports for their clients.

Business Value Achieved

After introducing ARGUS Developer into their work, Urban Asset Advisors quickly began to see the benefits of the software’s speed, flexibility and accuracy. The firm soon began attracting institutional investors as they were now able to combine their knowledge of the local market with detailed analytical research. “ARGUS Developer gives us the ability to do modeling quickly and with confidence at a level that is much more sophisticated than other development companies our size,” according to Whitney.

An unexpected advantage of implementing this software has been the hands-on customer support and timely response offered by ARGUS. Urban Asset Advisors was surprised to see their feedback, implemented within just months of suggesting them. Receiving this level of attention and offering opportunities for customers to provide feedback to the software development team shows just how committed ARGUS is to providing quality service and a solution that meets the needs of what companies are actually experiencing.