Why It Matters: The SREIT portfolio is diverse, with properties managed by both our internal teams and various third-party companies. Each manager has their own accounting practices. This workflow is critical for standardizing all this varied financial data into a single, consistent format for accurate trust-level reporting and planning.
How It Works: Financial data files are collected (both budget and actuals) from all property managers. This includes affiliate, Highmark (who use Yardi and RealPage), and third-party managers like Winn, Strata, and Greystar. All these files are ingested into Cherre. Here, we apply a set of SREIT-specific mapping rules to standardize the different property names and charts of accounts. A key financial transformation is a "sign flip" on all revenue accounts, which ensures that revenue is represented consistently as a positive number in financial models.
Key Data & Transformations:
Data Sources: Highmark (Yardi & RealPage), various third-party manager files.
Key Data: Property Budgets, Property Actuals.
Detailed Transformations:
Account Mapping: Data from all sources is run through a master SREIT Account Mapping to standardize the chart of accounts.
Property Mapping: Data is also mapped using a RealPage Property Mapping table to ensure consistent property identification.
Sign Flip: A conditional transformation is applied to all revenue accounts, reversing the sign of the value to ensure consistency in financial reporting.
End Result: The output is a clean, standardized set of property-level cash flows. This crucial data is then sent to Anaplan, a financial planning tool, to drive accurate forecasting and analysis for the entire SREIT portfolio.