Principal Capital signs contract for asset and portfolio mngmt. Services

Real Estate Weekly, Oct 31, 2001

Principal Capital Real Estate Investors - a leading U.S. real estate asset adviser and affiliate of Principal Capital Management, LLC, has signed a contract to implement REsolve Technology's REquest, a web-based asset and portfolio management solution. Principal Capital Real Estate Investors controls one of the nation's largest portfolios with nearly $20 billion in assets under management, and will use REquest for quarterly re-forecasting, business plan creation, and portfolio management. Principal Capital Real Estate Investors began its implementation of the REquest software in July and went live with the system this month.

"REsolve Technology has done previous financial consulting work for us and has the expertise with integrating various financial applications into streamlined and customized reports,"

said Jay Vogt, director - commercial real estate at Principal Capital Real Estate Investors. "We chose to work with REsolve Technology again due to its experience and its REquest software - a solution that is user-friendly, browser-based, and can integrate data from DYNA, MRI and other internal applications into customized reports."

Principal Capital Real Estate Investors has more than 150 real estate investment professionals, and in-depth coverage of over 70 metropolitan property markets nationwide.

REsolve Technology will enable all Principal Capital Real Estate Investors' employees to access updated information via an intranet and provide customized, easy-to-use reports, eliminating the need for manual re-forecasting. The REquest solution value proposition includes payback within one year due to cost savings of at least $300,000 per year in licenses for underlying software applications and productivity improvements.

"REquest was developed to provide pension fund advisors, such as Principal Capital, with a cost-effective and efficient way to manage assets, portfolios, executive and financial reporting via the internet," said Eric Forman, president of REsolve Technology. "We are looking forward to completing the implementation of REquest at Principal Capital Real Estate Investors so it can experience the benefits and return-on-investment that REquest has provided to our other customers."