JDR Consulting Helps Colony Retain Detail-Level Transactions History in Acquisition
Nov 23, 2015
DALLAS, Nov. 23, 2015 /PRNewswire/ -- When Colony Financial, Inc. acquired Cobalt Capital Partners and its assets for approximately $1.6 billion ( Bloomberg ), the company wanted to retain Cobalt's historical data at a granular level—not just to the summary level that typically transfers with this kind of acquisition. Colony tasked its long-time partner JDR Consulting to do what had never been done: deliver all the transaction details in the USAA-managed Yardi Voyager database for the Cobalt portfolio, and to do it within one month. JDR used its deep knowledge of Yardi's Voyager database structure and application to extract and deliver unprecedented detail-level transactions—for all 30 million sq. ft., for 5 years of historical data. No transaction details were lost. To put it another way: Colony has a complete picture of all transactions for all properties it acquired. There is no guess work, no embarrassing apologies to clients for missing information, and no interruptions in day-to-day activities. The transition was seamless. Not just that, but JDR was able to leverage its team's thorough understanding of Yardi products to deliver this data—in working condition—within 21 days. "JDR's programmers really impressed me," said Pat Irwin, Chief Administrative Officer at USAA. "I didn't think such a Herculean task could be done; particularly in such a short time. "
"I've been consulting for over 25 years and I've heard and seen clients go down this path many times but it always ended up coming back to summary data because of the complexity and lack of resources to tie out data. " said Peter Miller, CIO for JDR Consulting. "The fact that our technical team was able to create the methodology needed to do this task and to do it in 21 days still amazes me! "
Thanks to JDR's amazing programmers and their in-depth understanding of Yardi's database, JDR was able to migrate this unprecedented level of historical data. This is something we haven't seen in the Real Estate Industry or possibly for any data conversion. JDR Consulting is thrilled it could help Colony migrate this level of historical data, and even help save them time in the transition. This was unprecedented. And now that it's been done, JDR is excited about helping all its clients retain this level of detail when the need arises. Contact: