TCAM Asset Management Unveils New Identity as MRI Asset Management Services

Rebranding Announcement

MRI Software has announced the rebranding of TCAM Asset Management to MRI Asset Management Services. This change marks a significant development for the company, which has been a leading affordable housing service provider since its acquisition by MRI Software in 2018.

Background of TCAM

Founded in 2009, TCAM Asset Management specializes in providing comprehensive services in the affordable housing sector. Over the years, TCAM has successfully managed over 1,600 properties and has supported about 176,000 apartment units across 48 states, Washington, D.C., and Puerto Rico. The firm has built a solid reputation by working with various clients, including major banks, insurance companies, real estate developers, and housing agencies.

Why the Change?

Tracy McDermott, Senior Director of Asset Management Services at MRI Software, articulated the reasoning behind the rebranding. "In the years following the acquisition, we have seen great success in the combined offerings of TCAM and MRI. This rebranding reflects our breadth and depth as an integrated organization that supports over half of all affordable housing units in the U.S."

This statement underscores the commitment of MRI Software to enhance the range of services provided to clients, focusing not only on efficiency but also on supporting clients in overcoming the challenges faced in the affordable housing market, such as inventory shortages and rising operational costs.

Comprehensive Service Offerings

Going forward, MRI Asset Management Services aims to continue delivering managed services and consulting solutions that encompass various aspects of affordable housing, including:

- Financing
- Development
- Asset and investment management
- Property management
- Subordinate loan administration
- Transaction support

McDermott highlighted the importance of these services, stating that the affordable housing industry is under significant stress due to various economic pressures and regulatory hurdles. The organization is committed to providing tools and resources to help alleviate these stressors for their clients.

Focus on Client Support

MRI plans to advocate for affordable and public housing operators, who often express positive sentiments regarding their work, yet face significant stress. According to MRI's survey among subsidized housing operators, many are satisfied with their current technology, although there remain areas for improvement. McDermott emphasized the goal of reducing operational challenges that can lead to employee stress and inefficiencies, thereby fostering a healthier work environment and improving service delivery.

Leadership Insights

Allen Feliz, who serves as the Vice President of U.S. Affordable Housing at MRI, expressed excitement over the transition to MRI Asset Management Services. As a cofounder of TCAM, he recognizes the expertise within the team and their commitment to enhancing value and minimizing risk for their clients in the affordable multifamily housing sector. This new chapter is viewed as an opportunity to broaden their impact and support more organizations committed to affordable housing.

The Future Ahead

As MRI Asset Management Services, the team is poised to capitalize on their extensive experience and proven track record in the industry. The leadership has substantial backgrounds in managing diverse, multi-billion-dollar portfolios, and they remain focused on assisting clients through innovative solutions and strategies.

The rebranding of TCAM to MRI Asset Management Services represents a strategic alignment with MRI Software's broader vision for the future of real estate software solutions, aiming to transform how communities live, work, and thrive. For more details about the company's offerings, visit MRISoftware.com.