Kennedy Wilson Property Services acquires Alhouse Deaton Management and Leasing

THE COMPANY

Kennedy Wilson Property Services (Kennedy-Wilson Properties, Ltd.)

With the addition of the Alhouse Deaton portfolio, Kennedy Wilson Property Services has 16 million square feet of commercial and retail space under management in 24 states. It offers a comprehensive property services platform to support owners and investors of commercial real estate in achieving their business goals. Its services include property management, commercial brokerage, corporate services, facilities management and lease administration. (For more information, visit www.kennedywilsonservices.com).

Alhouse Deaton Management and Leasing, Inc.

Alhouse Deaton Management and Leasing was a Bay Area property management and brokerage services company founded in 1960, and brought approximately 1.6 million square feet of office and R&D assets to the Kennedy Wilson Property Services portfolio. Its acquisition expands Kennedy Wilson Property Services’ presence in Northern California by adding offices in San Francisco and Palo Alto, which complement the firm’s current teams in Concord and Sacramento.

THE CHALLENGE

Consolidating the Alhouse Deaton portfolio into Kennedy Wilson Property Services’ property management platform in a very short time

A portfolio of 55 commercial properties, including 273 leases, needed to be extracted from the Alhouse Deaton database and consolidated into Kennedy Wilson Property Services’ Yardi database.

This included the following elements and parameters:

• Core data: Banks, owners, property lists, tenants w/ full amendment history and budgets
• Tenant AR by individual transaction and date
• 24 months of summary historical TBs (by property/month/account)
• 12 months of transaction level detail (brought in as journal entries)
• Current account trees would be extracted and added so Alhouse Deaton properties could continue to use them
• User/User Group/Menu Security required set-up within the Kennedy Wilson Property Services security structure
• Alhouse Deaton’s vendors had to be set up to follow Kennedy Wilson Property Services’ vendor security
• Only vendors active within a specific timeframe were to be imported into the new database

THE EFG SOLUTION

• A well-timed project plan would be the key to success
• EFG first created customized export queries since standard ETL exports scripts would not work.
• Core data was migrated immediately, within one week of database access, to provide as much time as possible to complete prep work to migrate user/menu security, vendors and financial data.
• Alhouse Deaton users, user groups and menu security were set up within Kennedy Wilson Property Services’ databases to mirror the login security in the Alhouse Deaton database so its users would not need new logins.
• Vendors:

  • Vendors were filtered according to active status between the designated historical start date to present.

  • On import, eligible vendors were crossed referenced with Kennedy Wilson Property Services vendors to avoid duplication.

  • After Alhouse Deaton vendors were imported, Kennedy Wilson Property Services vendor security protocols were applied to Alhouse Deaton vendors.

• While all previous setup and import work was in progress, properties with unclosed periods were tied-out and closed so that financial data could be extracted and imported on time:

  • Tenant AR by individual trans and date

  • 24 months of summary historical TBs (by property/month/account), 12 months of transaction level detail (brought in as journals)

  • Alhouse Deaton account trees

THE OUTCOME

Kennedy Wilson Property Services was able to transition the management of the new Alhouse Deaton portfolio seamlessly, without significant disruption, so that it could continue the excellent service that Alhouse Deaton has always provided to its tenants and occupants.