Building Engines Launches Advanced HVAC Solution for Comprehensive Lifecyle Management

Rhea-AI Summary

Building Engines has announced enhancements to its Prism platform, introducing an advanced, fully integrated HVAC management solution. This upgrade allows owners, operators, and tenants to automate HVAC maintenance and compliance, improving visibility and data accuracy. The features include inventory management, tenant compliance, and bid management, aimed at enhancing operational efficiency. These developments follow JLL's strategic acquisition of Building Engines, indicating a focus on expanding the platform's reach in the commercial real estate sector.

Positive

• Enhanced HVAC management capabilities integrate into Prism platform, improving operational efficiency.
• New features streamline inventory management, tenant compliance, and bid management.
• Acquisition by JLL positions Building Engines for growth in the commercial real estate sector.

Negative

• None.

Expanded HVAC management capabilities built into Prism platform enable better capital management and more efficient maintenance

BOSTON--(BUSINESS WIRE)-- Building Engines, a market-leading provider of building operations software for modern commercial real estate (CRE), today announced expanded functionality of its Prism platform with an advanced, fully integrated HVAC management solution. Owners, operators and tenants will now be able to streamline and automate the entirety of the HVAC maintenance and compliance lifecycle within Prism, offering full visibility of all equipment and building systems with accurate and consolidated data.

Efficient HVAC management is critical for optimal building operations with implications on tenant experience, capital planning, regulatory compliance, health and safety, and net operating income (NOI). Yet maintaining HVAC systems – and data associated with them – is often a difficult, costly endeavor for property teams and tenants alike. Building Engines built its advanced HVAC functionality directly into Prism, basing it on features from Ravti, HVAC management software that Building Engines acquired in early 2021. The enhanced capabilities make it easier to track and prove compliance of triple-net lease obligations for industrial and retail properties, reduce regulatory burden and predict the lifespan of equipment with detailed dashboards and unit-by-unit reports.

“Data is integral to ensuring proper maintenance, but collecting and finding the right data has historically been a pain point for commercial property teams,” said Jeff Thompson, vice president of product management at Building Engines. “This latest enhancement leverages the domain expertise of Ravti to improve HVAC management with Prism’s technology, ensuring our customers have the most modern, innovative solutions to operate their buildings. Owners, operators and tenants can now use Prism as a single platform to make more informed decisions and elevate HVAC operations to the highest level of service.”

Prism serves as a comprehensive, easy-to-use system that unites all the technology and applications used to run buildings in one place. The platform’s advanced HVAC solution now streamlines the collection, storage, and retrieval of pertinent data to properly maintain HVAC equipment with features including:

• Inventory and Capital Planning: empowers more informed decisions with a digital inventory of every unit, including make, model, year, location and service history with ASHRAE life expectancy scoring
• Tenant Compliance: enables flexibility in handling different types of compliance requirements, pulling in proof of inspections and details of service records with reports on tenant compliance
• Bid Management: simplifies the RFP process with expanded access to a network of vendors to collect bids and compare costs for equipment service and replacement

These enhancements follow the close of JLL’s strategic acquisition of Building Engines. As part of JLL Technologies, JLL’s technology division, Building Engines intends to expand Prism’s reach and extend its open platform to create a comprehensive ecosystem of building operations technologies for real estate investors and operators.

For more information, visit https://www.buildingengines.com/platform.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion in 2020, operations in over 80 countries and a global workforce more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Building Engines

Building Engines, a JLL company, improves net operating income across the world’s most successful commercial real estate (CRE) portfolios. Our customers increase revenue, deliver the best occupant experience and reduce operating costs with Prism – the industry’s most innovative and powerful building operations platform. Today, more than 1,000 customers rely on Building Engines to manage critical operational needs across more than three billion square feet and 35,000 properties worldwide. To learn more, please visit www.buildingengines.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220202005490/en/

Building Engines – V2 Communications

Megan Nealon

617-426-2222

buildingengines@v2comms.com

Source: Building Engines