About Altus Realty
Altus is a full-service real estate developer based in Washington, DC. Their portfolio consists
of value-add office investments and ground-up development. As a lean team, they faced a
rapidly increasing workload for new projects. Gordon Fraley, who oversees Altus development
activities, needed to manage finances efficiently and move away from siloed spreadsheets.
Challenges
The Altus team was using Excel to manage the draw process. When the organization acquired several new buildings, they were unable to organize things fully in Excel. Gordon wanted to implement a solution that could flag mistakes for fast review and digitize project data more easily than in Excel. As a lean team, development managers needed to spend less time searching for errors and more time fixing them.
Solutions
To improve organization-wide efficiency, Altus partnered with Rabbet. The Rabbet platform allows every team member to see what documentation has been received in real-time for faster approval. “Rabbet is like another set of eyes,” Gordon said. “It handles one of the least favorite parts of your job so you can get to other stuff!” Rabbet digitizes data from uploaded documents and automatically connects it to the project budget for easy review. Development managers are instantly alerted to issues, discrepancies, or missing documents and can correct any potential risks as soon as they arise.
Key Results
- All documentation is sent to Rabbet in real time for total visibility
- Rabbet digitizes data from documents and connects it to the project budget for easy review
- Development managers are instantly alerted to potential issues
Rabbet allows you to have the collaboration and transparency to make projects run smoother and more efficiently. I am able to process four draws in a day, whereas without Rabbet I would be lucky to get through one.
~ Gordon Fraley, Partner
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