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Cardinal Capital Manages LIHTC Assets With Lexington Solutions

Tuesday, December 4, 2012 11:19 AM


http://media.marketwire.com/attachments/201201/6946_Lexington-SolutionsLogo.jpghttp://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=961635&ProfileId=051205&sourceType=1

BOSTON, MA -- (Marketwire) -- 12/04/12 -- Lexington Solutions, a leading asset management software and services provider for the Low Income Housing Tax Credit (LIHTC) market, today announced that Cardinal Capital Management, Inc., a developer and provider of asset management services for the affordable housing industry, will deploy its flagship software Fusion™ to help manage their LIHTC portfolio. In addition, Lexington Solutions will provide Cardinal Capital with automated, electronic data collection and Business Intelligence Dashboard integrated with Fusion.

"As a quickly growing LIHTC developer, we needed a system that would allow all of our asset managers to seamlessly access data from a centralized location and empower efficient analysis of portfolios," said Erich Schwenker, president at Cardinal Capital. "Fusion will help our asset managers quickly drill down into our financial data and concentrate on monitoring each property for variances. With Fusion, we will be better equipped to fulfill our mission of protecting and preserving affordable housing."

Cardinal Capital and its affiliates manage over 7,500 units in more than 130 communities throughout Wisconsin, Iowa and Arizona. Continuing to expand, Cardinal Capital selected Fusion based on its requirements for a thorough LIHTC asset management solution that includes:

  • Complete and centralized access to all their property data for every employee to provide consistent information flow throughout the company
  • Comprehensive comparisons and real-time analysis of portfolio data to empower asset managers to effectively manage portfolios
  • Logical and intuitive views of data and analysis that allow asset managers to quickly find information when they need it
  • Automatically identified portfolio variances, so asset managers can spot trends or issues and take action to resolve them before they become larger.

"Working with Cardinal Capital underscores how critical robust asset management software is for LIHTC developers," said Brian Madden, COO of Lexington Solutions. "More and more developers are recognizing that piecemeal in-house solutions and Excel sheet analysis are not sufficient to produce consistent results or enable proactive analysis that today's asset managers demand. With Fusion, we're able to provide the asset management technology and services that institutionalizes a company's knowledge and positively impacts operations and the bottom line."

Lexington Solutions will work with Cardinal Capital to implement Fusion's cloud-based asset management software and data collection services. With Lexington Solutions' data collection services, financial data from Cardinal Capital's management companies will be automatically imported into their Fusion database. Lexington Solutions will deploy Fusion as a hosted solution, maintaining responsibility for disaster recovery and backup systems to secure Cardinal Capital's critical data.

Today, Fusion manages more than 170,000 Low Income Housing Tax Credit units throughout the United States. To learn more about how Fusion can transform LIHTC asset management, visit: www.Lexington-Solutions.com.

About Lexington Solutions
Lexington Solutions, a wholly owned subsidiary of Boston Capital, is an innovative asset management software and services provider to the LIHTC market. The company's flagship product, Fusion™, is the most comprehensive LIHTC asset management software of the market, and the only platform specifically built by asset managers, for asset managers. Fusion's built-in analysis helps asset managers to proactively pinpoint potential issues earlier, and confidently manage assets and tax credits while reducing credit delivery risk. Today, Fusion is used to manage over 2,500 LIHTC properties nationwide as the most affordable asset management solution for the affordable housing industry. For more information, visit: www.Lexington-Solutions.com.

Media Contact:
Julie Kaviar
Emerging Media
212-922-5885
julie@emergingmediapr.com

(Source: Market Wire )
(Source: Quotemedia)

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