AvalonBay Communities Extends Agreement with MRI Software for Multifamily Real Estate Property Management

Leading real estate investment trust powers centralized operations with MRI’s open and configurable software platform

Cleveland, Ohio – September 29, 2016 – MRI Software, a global leader in real estate software solutions,  today announced that AvalonBay Communities, a real estate investment trust with more than 80,000 residential units in some of the best U.S. markets, has extended its software licensing agreement with MRI to manage its nationwide portfolio of apartment communities. AvalonBay utilizes MRI Software’s multifamily property management solutions to manage property-level accounting across its nationwide footprint.

“AvalonBay has enjoyed a decade-long relationship with MRI Software,” said Mona Stahling, Senior Vice President of Operations and Support at AvalonBay. “MRI gives us the flexibility to integrate both the proprietary and third-party solutions that power our technology operations. Our centralized shared services group relies on MRI’s property management and billing solutions to handle property operation transactions.”

AvalonBay utilizes MRI Software’s Residential Management, Commercial Management, Tenant Connect portal, Financials and Accounting, and Affordable Housing products. AvalonBay recently upgraded to Version X of MRI’s Property Management software, which delivers an unmatched user experience, responsive design, complete data mobility and global search capabilities. AvalonBay also utilizes the MRI Information Exchange, API toolkit and Partner Connect programs to integrate third-party applications such as CRM, revenue management, screening, call center and other solutions into MRI’s property management platform.

“We are thrilled to extend our long-standing, successful partnership with AvalonBay Communities,” said Patrick Ghilani, Chief Executive Officer of MRI Software. “Enabling customer success and building trusted relationships are top priorities for our team members. It is certainly an accomplishment to have earned the business of some of the largest names in residential real estate, and we are truly proud to continually expand those relationships and grow trust over time as we have with AvalonBay.”

MRI Software’s flexible and configurable property management platform powers the business operations of more than one fifth of the National Multifamily Housing Council’s top 50 managers and owners.

About AvalonBay

AvalonBay is an equity REIT in the business of developing, redeveloping, acquiring, and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States. As of June 30, 2016, the Company owned or held a direct or indirect ownership interest in 283 apartment communities containing 82,984 apartment homes in 10 states and the District of Columbia, of which 23 communities were under construction and seven communities were under reconstruction. More information may be found on the Company’s website at http://www.avalonbay.com.

About MRI Software

MRI Software LLC is a leading provider of innovative software solutions for the global real estate industry. MRI delivers a comprehensive and truly configurable solution, from property-level management and accounting to the most complex, long-range financial modeling and analytics for both the commercial and multifamily real estate markets. As a leading provider of real estate enterprise software applications and hosted solutions, MRI leverages over 45 years of business experience to develop long-term successful relationships with its clients. Founded in Cleveland, Ohio, U.S.A., the company has offices in Atlanta, Toronto, London, Sydney, Singapore, and Hong Kong. For more information, please visit www.mrisoftware.com.

Press contact:

Jeff Miller
LEWIS
mrisoftware@teamlewis.com
541.207.6413