SOLON, Ohio, Dec. 9, 2024 -- TCAM Asset Management, an affordable housing service provider acquired by the PropTech firm MRI Software in 2018, is rebranding as MRI Asset Management Services.
"In the years following the acquisition, we have seen great success in the combined offerings of TCAM and MRI," says Tracy McDermott, Senior Director of Asset Management Services, MRI Software. "This rebranding reflects our breadth and depth as an integrated organization that supports over half of all affordable housing units in the U.S."
MRI will continue to provide managed services and consulting solutions for financing, development, asset and investment management, property management, direct and shadow asset management, subordinate loan administration, and transaction support.
"The affordable housing sector is facing enormous challenges, including a severe shortage of inventory, along with limited resources, rising operating costs, and ever-changing regulations," McDermott notes. "Our clients are dedicated to surmounting these challenges and so are we. By supporting all types of stakeholders in the affordable housing industry, we can help the industry better serve residents and the communities in which they reside across the U.S."
MRI will continue to advocate for affordable and public housing operators, who express relatively positive sentiments about their work but also encounter job-related stress, according to MRI's Voice of the Subsidized Housing Operator survey. Respondents indicated satisfaction with the technology they use to do their jobs, but several areas of improvement exist. "Our goal is to reduce their stress by giving them tools to make their jobs easier," says McDermott. "Removing obstacles from operations leads to greater efficiencies, happier employees, and, ultimately, a stronger mission-driven industry."
"As a cofounder of TCAM, I am excited about the future of MRI Asset Management Services," added Allen Feliz, Vice President of U.S. Affordable Housing at MRI Software. "Our team of asset and portfolio management experts looks forward to maximizing value and minimizing risk for not only our current clients, but also more organizations in the affordable multifamily housing industry."
Since its establishment in 2009, TCAM has served clients for more than 1,600 properties and 176,000 apartment units across 48 states, Washington, D.C., and Puerto Rico. The group is led by executives who possess significant experience in the affordable housing and tax-credit industries and have a track record of success in leading the underwriting, structuring and management of diverse, multi-billion-dollar portfolios. Clients of TCAM, now MRI Asset Management Services, include world-leading banks, insurance companies, real estate developers, housing agencies, and more.
About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI's open and connected, AI-first platform empowers agents, owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than six million users worldwide, including the public and affordable housing sector. Through innovative solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to realize their vision of building thriving communities and stronger businesses. For more information, please visit mrisoftware.com.
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