Avistone

Customer Success Story

Time is Money – Using Update Capital to Save Both

Founded in 2013, Avistone is a rapidly growing commercial real estate investment firm that specializes in the acquisition and operation of multi-tenant, flex industrial properties nationwide. By focusing on mitigating risk for investors in active metropolitan markets with low vacancy rates and strong economic drivers, Avistone has delivered an average cash distribution of 8% to its investors and has grown to hold over $200 million in assets in a portfolio of 20 properties encompassing 2.7 million square feet.

YEAR ESTABLISHED

2013

PROPERTIES

20+

AUM

$200 Million

Searching for a Scalable Solution

Capitalizing on their extensive real estate investment experience, Daniel Culler and Richard Kent founded Avistone in 2013. By 2018, the firm had grown to serve over 220 investors. The growth was remarkable, but the processes Avistone had in place to communicate with investors just wasn’t able to scale to meet the demand.

“Because most of our investors’ distributions are from in-place cash flow, we were spending a significant amount of time every single month on investor statements, distributions, and communications,”

― says David Sheets (Vice President of Investor Relations at Avistone)

In fact, the team was spending two days per month collecting data, creating PDFs, and emailing individual packets to each investor. Sheets knew there was a better way, and began searching for a tool that could lessen the load on the Avistone team while improving their investors’ experience. After investigating several solutions, Avistone settled on Update Capital.

“Update Capital had a excellent user experience. The portal provided a clean, simple way for investors to access their needed data, statements and documents for multiple investments. That in combination with their competitive pricing put them over the top for us,”

― says Sheets

Sheets says Update Capital was extremely helpful in setting up the on-boarding process in the way best for Avistone. The result – a remarkably smooth implementation. Now that the portal is in place, Sheets and his team are able to make any needed updates themselves quickly, knowing that help is a phone call or email away if needed.

Enhancing the Investor Experience

The Update Capital platform provides investors with an easily accessible, personalized view of their portfolio including investments, projections, and returns. It also serves as a document hub for statements, tax forms, and reports. The platform is streamlined and modern, and navigation is intuitive.

Most investors are able to figure out the system without assistance, but Avistone provides a one-sheet training form to walk new users through the portal. Additionally, they offer short screen-sharing one-to-one tutorials for interested investors. Sheets says that only a handful of investors request such training, but the firm is happy to provide it as a way of strengthening investor relationships.

“Update Capital had a excellent user experience. The portal provided a clean, simple way for investors to access their needed data, statements and documents for multiple investments. That in combination with their competitive pricing put them over the top for us,”

― says Sheets

No More Wasted Time

Avistone now uses Update Capital to manage all investor reporting, documents and statements as well as highlight new investment opportunities for existing investors. Sheets says they’ve yet to run into a problem the Update team wasn’t able to quickly resolve.

“The whole system runs very smoothly, If we ever have had a question or problem, Update Capital has been extremely helpful. I’ve never had to wait for someone to respond or resolve the issue. The customer service is excellent.”

― says Sheets

48% of Avistone’s investors participate in more than one deal. The firm also manages an investment fund and consistently has new offering for it current investors and new ones as well. Sheets says Update Capital makes it easy for Avistone and investors alike to maintain a solid understanding of how each investor’s portfolio is performing, regardless of how complex it may be.

“It’s easy for investors to access information on their own, which saves us a lot of time. If we need to refer to anything, it’s right there. It’s easy to take a quick look, and if we find an error, it’s easy to make adjustments. Update Capital has allowed us to cut down our reporting process from a couple of days to just a couple of hours. It’s been a huge benefit for us.”

― Sheets sums it up

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Update Capital had a excellent user experience. The portal provided a clean, simple way for investors to access their needed data, statements and documents for multiple investments. That in combination with their competitive pricing put them over the top for us

Erik Loptson
Western Wealth Capital
$2.3 Billion AUM

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