Managed services solution to overcome talent gaps and scale

Client background

This real estate client is one of the largest private real estate firms in the United States, providing extensive services for owners, investors, lenders and occupiers of commercial properties. The company manages more than $30.8 billion in assets and employs over 3,500 professionals, supporting a national footprint and a wide range of real estate strategies.

Business challenge

The client faced an urgent staffing shortage following the unexpected departure of two junior accountants. To meet critical financial reporting deadlines, the company required immediate staffing supplementation. The client also needed additional resources due to the rapid growth of their investment platform, which also faced its own set of looming financial reporting deadlines.

These challenges were confronted during the holiday period when the client had limited staff availability, making the situation more acute. The client also needed the capability to quickly scale staffing across both property-level and JV-level accounting, which required personnel with deep industry expertise. Beyond resource constraints, the client sought to modernize its technological environment by establishing a centralized, automated data capture platform to support broader analytics and future reporting requirements.

Baker Tilly approach

Baker Tilly rapidly mobilized support through its real estate accounting practice and provided six fractionally allocated employees to absorb the workload of the two full-time employees (FTEs) who unexpectedly left their property accounting roles. Further, to meet the rapid growth and relentless deadlines associated with their investment platform, the team provided two junior FTEs through its CFO Advisory and fund administration practices. As a result of Baker Tilly’s quick and decisive action, uninterrupted reporting and operational continuity was ensured.

Shortly thereafter, Baker Tilly developed and implemented a sophisticated digital solution that included a data capture application, a centralized database and a semantic model encompassing more than 60 data fields, 47 property attributes, and 14 KPIs. This work laid the foundation for the client’s enterprise level data architecture and long-term analytical capabilities.

Results achieved

Through Baker Tilly’s dynamic managed services platform, the client gained critical flexibility, enabling them to maintain operations while conducting a deliberate and thorough search for permanent talent. The success of the initial support led to an extended engagement that expanded Baker Tilly’s assignments.

The digital transformation initiative is projected to save the client approximately $120,000 annually, generating a two-year cost recapture on initial investment. Moreover, the enhanced analytic capabilities have helped the client secure more than an estimated $10 million in additional funding, due to strengthened investor confidence and differentiation from competitors lacking similar data driven capabilities.

Connect with Baker Tilly for scalable, high-impact real estate support

Baker Tilly provides real estate firms with immediate staffing relief, which includes a blend of property accounting and fund accounting expertise. Our industry knowledge is back stopped by modern digital data solutions designed to support growth, continuity and operational excellence.