KENSINGTON'S KEY TO SUCCESS

Kensington Realty Advisors base their business success on listening to their clients and providing the best services possible. When asked about their growth strategy, Kelley Johnson, Sr. Vice President, stated "We are not looking at necessarily becoming the biggest, but the best." She feels that it is important to have controlled growth and to work with a group of select clients in order to maintain high standards of customer service. "We never want to be so large that we lose the ability to provide flexible and customized services," said Kelley. This is especially important when you consider that they are servicing some of the largest pension plan sponsors in the nation.

Ms. Johnson and one of Kensington's founders, Mr. James Smith, originally learned about Yardi's Asset Management software by attending an advertised seminar hosted by Yardi in the Chicago area. They were impressed with what they saw and requested an on-site visit. And so the relationship began...and not with just Kensington. Because of the partnership Kensington has with Marquette Management (Marquette handles all of the property management functions of Kensington's multi-housing portfolio), Marquette also entered into a relationship with Yardi! With both parties using Yardi products, Kensington can integrate property management data directly from Marquette via electronic uploads. Kensington believes in investing in technology to stay ahead of competition and accordingly wanted to make sure they selected software from a company that was technologically advanced. "We feel that Yardi is on the cutting edge. They are the only firm that has a fully integrated Asset and Property Management into one system. Others have one or the other, but not both in Windows. Yardi also continues to demonstrate their technical capabilities as evidenced by their Voyage product line," stated Ms. Johnson. Jeff Carter, Controller, had just received Yardi's Voyager product the day of the Spotlight interview and will be establishing Voyager as a means to increase client services. Jeff plans on setting up Yardi Voyager to let their clients view their own reports via the Internet.

Being flexible is key to Kensington. And they mean what they say. Each client they service is offered customized financial statements formatted to meet the individual needs of the client. So when considering the efficiencies gained by bringing in Yardi software, both Kelley and Jeff were very excited with Yardi's strong reporting capabilities. "There are usually about 6-8 reports required by each client, and they are all different from client to client," Jeff stated. "With Yardi's custom reporting capabilities, the different reports will no longer have to be created and maintained in LOTUS spreadsheets." According to Kelley, there are also numerous Lotus spreadsheets she uses for 'slicing and dicing' her portfolio for performance calculations and market trends that will now be off loaded to the Yardi system. She said the reporting capabilities and "...the ability to sit on top of other programs to eliminate much duplication of effort" were key ingredients for selecting Yardi Asset Management software for their firm.

Kensington Realty Advisors is an SEC registered investment advisor providing real estate investment management, counseling and debt placement services to institutional investors. The portfolio managed is primarily industrial and multi-housing properties located in the Midwest and West Coast. The company, established in April 1991, has 60 years of combined experience between James Smith (Managing Principal), James Lee (Principal) and Kelley Johnson (Sr. Vice President).