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 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.
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:
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
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.