SOLON, Ohio, Nov. 7, 2018 /PRNewswire/ -- MRI Software LLC, a global leader in real estate software solutions, today announced the acquisition of TCAM Asset Management. TCAM provides asset and portfolio management, advisory and consulting services to owners, investors and public agencies in the affordable housing industry. MRI's software is already used to manage more than half of all affordable housing units in the United States, and bringing TCAM's investment expertise and software-enabled services into the fold allows MRI to provide managed and consulting services for all major stakeholders in the affordable housing lifecycle – from financing and development to asset, investment and property management.
Headquartered in Boston, TCAM provides services to clients for more than 1,600 properties and 176,000 apartment units across 48 states, Washington, D.C., and Puerto Rico. TCAM experts bring a combined 325 years of experience in the affordable housing and tax credit industries and success in leading the underwriting, structuring and management of diverse, multi-billion-dollar portfolios. The company's clients include world-leading banks, insurance companies, real estate developers, housing agencies, and more. Prior to this acquisition, TCAM had already been using MRI's Investment Central product as part of its asset management offering.
"TCAM has been an MRI client for 10 years and, throughout our relationship, we have been highly impressed by the team's deep expertise in affordable housing and tax credit asset management," said Stan Price, Senior Vice President of Investment Solutions at MRI Software. "TCAM's asset management and advisory services are a natural extension of MRI's comprehensive investment and property management software and data management services, enabling MRI to provide a complete solution for affordable housing investors, syndicators, owner/operators, and housing agencies."
"MRI has been bringing cutting-edge technology solutions to the affordable housing industry, and we're excited to build on that momentum," said Jenny Netzer, Chief Executive Officer of TCAM Asset Management. "Our comprehensive asset and portfolio management services perfectly complement MRI's investment management and property management offerings. As part of MRI, we believe we can help clients achieve better results from their affordable housing assets."
In addition to today's announcement, MRI acquired IPM Software, a provider of affordable housing property management, accounting and compliance solutions, last month. Both MRI Software and TCAM Asset Management are exhibiting at Affordable Housing Finance's upcoming AHF Live event at the Hyatt Regency in Chicago, November 12-14. Jenny Netzer and Allen Feliz, Managing Director, TCAM, will moderate a pre-conference workshop entitled "Intro to Asset Management" on Monday, November 12 from 8:30am to 12:00pm.
About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI's comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses-from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.
SOURCE MRI Software