Stream Realty Partners Uses Rabbet to Centralize A Growing Portfolio
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Challenges
Stream Realty Partners is one of the fastest-growing commercial real estate companies in the country. Stream’s Investment Management Platform leverages expertise from their 15 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively manages three discretionary commingled funds, in addition to several joint ventures, and wholly-owned assets totaling 38 investments
To support their growth trajectory, Stream needed to increase their capacity via digital and scalable processes that could be easily adopted and managed across all of their offices. The leadership team wanted to reduce the time and effort required to manage project budgets and achieve greater transparency, proactive cost management, and insights across projects. To do this, they needed a modern solution that would standardize daily processes among all their offices.
Goals
- Centralize project finances for better visibility within offices and across the Investment Management Platform
- Reduce time spent preparing draws and reports for capital partners and clients
- Standardize processes throughout all 15 offices
Results
Since getting started with Rabbet, the Stream Realty team has standardized their processes across offices. Now, there’s a clear process for team members that’s organized and easy to understand. Rather than sorting out what invoices are approved or figuring out who issued the approvals, everyone is clear on next steps in each project.
These streamlined processes have saved time for developers and accountants alike. Tyler Wellborn, the Senior Director of Industrial Services, said: “With Rabbet, I spend less time on administrative tasks allowing me to focus on sourcing deals.” Similarly, the accounting team moves through the draw review and budget review process more quickly with standardized workflows. By utilizing the Rabbet platform, Stream Realty has achieved standardization, efficiency, and growth.
