From the Wires
Cardinal Capital Manages LIHTC Assets With Lexington Solutions
Cardinal Capital Management, Inc. to Deploy Lexington Solutions' Fusion(TM) Asset Management Software and Electronic Data Collection
By: Marketwired .
Dec. 4, 2012 11:19 AM
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:
"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.
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