CREModels, a provider of consulting services and software for the commercial and multifamily real estate space, is offering free access to its proprietary cloud-based suite of tools designed to help industry professionals keep deals on track despite the disruptions being created by the spread of the coronavirus, also known as COVID-19.
According to the St. Petersburg, Fla.-based company, industry professionals will be able to access a free three-month license to CREModels' flagship software product, the CRE Suite, throughout the month of March. The cloud-based enables acquisitions and development teams to remotely share and update essential deal information among colleagues, partners and third parties.
Max Garbus, vice president of CREModels, pointed out that the software platform includes a library of investment analysis and development pro forma models, along with tools related to deal-tracking, mapping and demographics, plus apps for creating and sharing custom pitchbooks and presentations. The software integrates with Salesforce, HubSpot CRM, Yardi, MRI and ARGUS, and users are able to share templates and deals with investors or other external stakeholders.
"If team members suddenly feel they need to underwrite important and highly complex deals from home, you don't want to be stuck because those critical files are on a hard drive at the office," said Garbus. "The CRE Suite is a cloud-based hub for managing and accessing critical real estate data, with strong capabilities for remote-collaboration, so it is a particularly useful tool at this time."
Mike Harris, managing director at CREModels, pointed out that the commercial and multifamily sectors are feeling the brunt of the economic hiccups created by the news of the coronavirus. Several major financial services trade conferences are either cancelling their events (most notably MIPIM in Cannes, France) or have seen a drop in registered attendance (including the Citi 2020 Global Property Conference in Miami).
"Unfortunately, we're already hearing from peers about deferred real estate conferences, curtailed business travel and increasing teleworking requests from employees, and there's an unsettling chance that this is only the beginning," said Harris. "At CREModels, we believe we have a responsibility to support our industry in difficult times. Providing free access to the CRE Suite's remote-collaboration capabilities is one way we can help."
Harris added that the month-long free access to the CREModels platform was part of the company’s "Invested in You" corporate philosophy.
"We're dedicated to serving our employees, our clients, the real estate industry as a whole and the community in which we live," he continued. "We're deeply concerned about COVID-19 and want to help our industry remain resilient in the face of this challenge … We feel for those personally affected, and our hope is that the coronavirus passes quickly with a minimum of further harm. In any case, cloud-based technology can enable our industry to weather such disruptions, now and into the future."