利用Anaplan在快速变化的环境中进行基本房地产资产，投资组合和筹款建模

Anaplan的金融服务解决方案主管Henri Wajsblat采访了Anaplan Gold合作伙伴和Lionpoint Group创始人Nick Moore，介绍了房地产领域的转型，其业务和技术问题，以及Anaplan平台和Lionpoint Solutions如何可以提供帮助。

Over the past decade, we’ve seen a significant increase in the allocation of private capital into commercial real estate. Most recently, with the explosion of internet commerce, investors and developers have focused on real estate assets supporting supply chain and distribution. How well is this market supported by technology, and what do you see as the challenges for investors and owners in this new business environment?

Real estate has historically been a laggard in the adoption of technology. The model through the early 2000s was a “one size fits all,” with key real estate ERP vendors claiming that clients only needed (their) one solution to address all of their information and reporting needs. This started to change around 2010 as innovators grew frustrated with this model and started creating best of breed solutions to address gaps in the real estate information management ecosystem. We saw the emergence of solutions like VTS (leasing and asset management), Honest Buildings (project management) and Dealpath (deal pipeline management) to address these gaps with open and connected solutions. One key area that remained using spreadsheets was modeling—from lease-level budgeting to asset forecasting, portfolio/sector analysis, and fund modeling through to corporate allocations and enterprise value forecasting. Some legacy solutions have addressed parts of the process for a subset of asset classes, but these have failed to provide the flexibility required by the market.

当Anaplan进入市场时，Lionpoint团队立即看到了一个巨大的机会，破坏了一个痛苦，分散的过程，并为所有参与者带来了巨大的效率，包括资产管理人员，投资组合经理，基金经理，CFO，CFOS，FP＆A团体负责人，以及，以及，，以及，当然还有。，投资者。

在这一高度不确定性时期，您如何描述房地产部门面临的增量挑战，以及技术可以提供帮助的关键领域是什么？

对于房地产投资者和经理来说，我们当然处于一个特别具有挑战性的环境中。随着冠状病毒的发作和全球商业运营的关闭，大多数资产类别都受到了巨大的打击。现在每个人都在争先恐后地获取数据。报告资产绩效每月或季度报告的传统模型已经跨越了头脑，投资组合和基金经理要求每天围绕管道交易的每日更新，租户要求减免租金或摆脱义务，跨越供应链的影响，当然，以及在绝大多数租户关闭的同时，被迫保持开放的资产提供基本服务。现在仅投资于后台和会计解决方案的公司正在努力争取无数的Excel文件，复制和粘贴数据以尝试确定其降低风险并对这些风险实施缓解剂。非常困难的是，手动敏感投资组合并对整个资金，客户和业务产生准确的影响。

There are four key areas where we are seeing clients turn to technology for immediate support:

A.资产数据聚合

通常，投资者或投资组合经理会按月（或季度）从基础资产中收集标准财务和运营数据。从外部经理，合资伙伴和其他来源收集并汇总了一组预定义的数据点。自从Covid-19爆发以及对租户，供应链和资产的巨大影响以来，现在每天都有报道的要求更大的粒度。投资者希望了解对管道租赁交易的影响，要求减免租金或减少的租户，租户倒闭，资产流量减少，具有必需服务的资产（超级市场，药房，医疗办公室和医疗办公室以及这样的）要保持开放，而绝大多数资产都在关闭中，以及无数其他数据请求。没有设置历史系统和模板来处理数据请求中的这些更改，这通常不是添加字段的简单过程。

B.资产灵敏度

Once the data is collected, it needs to be normalized and modeled to determine how much strain an asset can take before it is at risk of breaching covenants and hitting a negative performance threshold. Many investors are doing this in spreadsheets with complex formulas that are being constantly tweaked and optimized—manually.

C.投资组合/部门/基金敏感性

真正的挑战是试图将各个资产的数据汇总到投资组合，行业和/或基金模型中。有这么多新的数据点通常是特定资产类型（例如，区域零售购物中心与工业资产）所独有的，以有意义的方式汇总了这些数据很复杂且通常容易出错。投资者不仅以自下而上的方式汇总了数据，而且还应用自上而下的灵敏度驱动力来塑造投资组合或基金的破坏点在哪里。正如我们在媒体上看到的那样，许多每日定价的开放式资金已暂停交易，但继续向投资者收取费用。这部分是因为这些经理仍在积极管理其投资组合，现在可以说比以往任何时候都更重要，试图遏制偏低的风险，同时还模拟了不同方案对他们的投资组合或资金的影响，并在中型和更长的情况下建模学期。

D. Returns and performance modeling

Finally, managers and investors are creating multiple sensitivity models to try to ascertain the impacts of COVID-19 on their fund’s performance, their various fees (management, development, transaction, etc.) and, of course, their own carry. At the same time, many private equity real estate firms are sitting on dry powder and are looking for the right buying opportunities as asset values will be impacted in the short-to-medium term, some more dramatically than others.

Lionpoint通过利用Anaplan平台来帮助许多房地产所有者和投资者填补这些空白，并已发布Real Estate Budget and Forecast和Real Estate Fund and Portfolio Performance models在Anaplan应用中心。公司利用Anaplan模型来解决哪些关键业务挑战？房地产所有者和投资者在采用Anaplan平台方面期望有什么好处？

We are seeing our real estate clients fast-track their adoption of Anaplan as a complementary solution to their ERP and lease pipeline management systems. Lionpoint has created a suite of accelerator real estate models that address each of the four points raised above: Asset data aggregation, asset sensitivity, portfolio/sector/fund sensitivity, and returns and performance modeling. Given the connected nature of Anaplan and the models built on the platform, managers and investors can quickly see the impact of changes at an asset level (for example, a tenant requesting a three-month rent abatement) on asset level cashflows and performance, the portfolio or sector that asset belongs to, the fund or investment vehicle that asset is a part of, and the returns to investors as well as the manager themselves.

Anaplanis extremely flexible and nimble, meaning that we have been able to extend the data collection to include specific COVID-19 data requests, add in validation rules, and include these in a range of new sensitivity models. Not only can managers do rapid bottom-up aggregation and analysis, they can amend market leasing assumptions (MLAs) to create a new COVID-19 set of MLAs by asset type, sector, market, or client. We are also seeing clients perform a far greater number of top-down driver-based sensitivity models within Anaplan to test the limits of the downward pressure that a portfolio or fund can handle and to model out a range of options around the impacts of COVID-19 depending on when the social distancing rules begin to be relaxed and how long it will really take for the performance of assets, portfolios, and funds to return to an acceptable and more predictable level.

最后，我们看到大型办公投资组合的所有者开始建模一个世界，在该世界中，公司采用更灵活的方法来在办公室工作，而不是在家工作（WFH）（新常态）。人们普遍认为，在Covid-19之后，长期对办公空间的需求（永久性或灵活性）将发生变化，房东和投资者正在建立这对他们现有的投资组合以及未来的收购框架可能意味着什么。好消息是，Anaplan可以通过与业务部门老师预测，新的工作方式和工作场所计划模型的联系进行所有这些建模。

有关Lionpoint房地产解决方案的更多信息，请加入以下北美网络研讨会：6月30日，太平洋时间上午9.00 /东部时间12.00.