Federal Realty Investment Trust Goes Live with REMLogics Debt and Lease Liability Accounting Automation

PARAGOULD, Ark., Feb. 23, 2022 /PRNewswire-PRWeb/ -- REMLogics, LLC (REMLogics), a leader in providing cloud-native real estate management solutions built on an enterprise no-code development platform, announces the successful go-live of their Debt and Lease Liability Accounting solution at Federal Realty Investment Trust (NYSE: FRT).

Federal Realty is using REMLogics solution to automate the accounting of debt and lease liabilities with a carrying value of over $4 billion. Federal Realty's 104 retail and mixed-use properties include approximately 3,100 tenants in 25 million square feet, and approximately 3,400 residential units.

Craig Klimisch, Vice President and Controller at Federal Realty Investment Trust commented, "We needed a secure, cloud-native end-to-end solution to get our financial team out of spreadsheets and eliminate time-consuming manual postings into our accounting system. With REMLogics, we now have a complete automated audit trail from beginning to end."

"We selected REMLogics to help us with automating our debt and lease liability accounting processes because of their extensive experience with JD Edwards, real estate management software development, and industry expertise," Klimisch said.

Donnie Law, CEO and Chief Software Architect at REMLogics said, "We worked very closely with the Federal Realty financial team to quickly build their debt and lease liability accounting solution. Using Nextbot™, our enterprise no-code development platform, we were able to deliver the solution in a fraction of the time it usually takes to build software—which is a testament to the power of no-code to drive innovation through a citizen developer community."

REMLogics is best known for providing real estate companies with an eco-system of out-of-the-box cloud-native real estate management solutions and custom applications built on an enterprise no-code development platform.

About Federal Realty Investment Trust
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living, and working provide a destination experience valued by their respective communities. Federal Realty's 104 properties include approximately 3,100 tenants, in 25 million square feet, and approximately 3,400 residential units. For additional information about Federal Realty and its properties, visit http://www.federalrealty.com.

About REMLogics
REMLogics is redefining real estate management ERP for commercial and residential communities. Our customers benefit from a complete cloud-native solution built on the industry's only enterprise no-code development platform. REMLogics is designed for mobility and integration to respond faster to the ever-changing technology and real estate landscape. Learn how you can drive innovation, embrace new technologies, outpace the competition, and future-proof your ERP investment by visiting http://www.remlogics.net.

Nextbot™ is a registered trademark of Nextworld, LLC.

Media Contact

Public Relations, REMLogics, LLC, 1 866-700-0786, [email protected]

SOURCE REMLogics, LLC