Jackson Cross Partners Announces New “Lease Bridge” Suite of Services

King of Prussia, PA – (December 3, 2013) Jackson Cross Partners, a real estate service company headquartered outside of Philadelphia, Pennsylvania, today announced the offering of their LeaseBridge suite of services to major corporations preparing for the anticipated changes by the FASB to the Standard for Lease Accounting later this year.

Managing Partner of Jackson Cross, Lou Battagliese described the dilemma facing CFOs: “The uncertainty surrounding the final standard has placed most companies and software providers into a “Catch-22”, Battagliese explained, “With a final standard not expected until late 2014, the major software players are reluctant to roll out system solutions that might need to be rebuilt in the next 12 to 18 months. But, with little system support, businesses are faced with the decision of taking interim steps or making major system decisions prematurely. This is a part of the reason that a recent PWC survey indicated that over 65% of effected organizations had not begun preparation for the change.”

“A further complicating factor is that any new systems will likely require a major upgrade of the company’s platform, which is neither easy nor inexpensive. The alternative is purchasing and implementing a standalone system that doesn’t integrate into the overall information systems in the long run.” Many CIOs and CFOs are accelerating the decision between an ERP and IWMS based enterprise solution or simply utilizing a point solution and dealing with integration over time. In the absence of a clear path, many companies are choosing to do nothing.

With tens of thousands of leases, including real estate and equipment, as Lessee and Lessor, major corporations face a significant challenge in assembling and preparing worldwide lease information into a coherent, centralized format. The JCP LeaseBridge™ suite of services provides the first, fully platform independent solution for companies to begin the preparation process immediately. Along with a patented technology solution, Jackson Cross combines experience and intelligence to the exhaustive manual tasks of document discovery, imaging, lease abstraction, data validation and translation to this process. JCP has also licensed a financial modeling tool for clients to analyze overall impact of the changes, along with innovative strategies to help mitigate the negative effects of the new standard.

The LeaseBridge Solution incorporates licensed technology and skills from Kimvio for data integration and abstraction, LeaseCalcs, for FASB modeling and compliance and translation capability through CETRA Language Solutions. These “Best in Class” partners provide the specialty skills required to deliver the best result for the client. Jackson Cross manages the end to end process including 100% quality review and data integrity validation.

The JCP Advisory Team is comprised of trained and experienced attorneys, law students and property administrators who have reviewed and abstracted over 45,000 lease files into a broad range of systems. The blended skills around accounting, legal, real estate, translations and technology create a unique and valuable partner for corporate clients. Battagliese added, “This can be a very complex project that will require process and culture changes for the most effected companies. The LeaseBridge platform will provide clients with both cross functional expertise and significant experience on these types of projects as they develop their own process.

For more information on the Lease Bridge services, contact: Louis J. Battagliese Jr. 

About Jackson Cross Partners

Jackson Cross Partners (JCP) is a multi-dimensional commercial real estate company that offers a unique resource to an organization’s real estate challenges. The company provides commercial property owners and occupiers with a broad range of services including Advisory, Brokerage, CRE Strategies, Investment and Property Management. With advanced skills and experience in Real Estate, Finance, Accounting, Technology and Law, JCP provides a cross functional approach to real estate planning, analysis and operational execution. The company, based outside of Philadelphia, PA, provides regional brokerage services in Pennsylvania, Delaware and New Jersey, while also providing advisory and strategic execution for client portfolios throughout North America and around the world. For more information, go to www.jacksoncross.com.