THE IMPACT OF NEW TECHNOLOGIES ON SPACE, OPERATIONS AND REVENUES
3. THE MF REIT Properties, Inc.
THE MF REIT Properties, Inc. is a Real Estate Investment Trust (REIT) focusing on the development, acquisition and management of apartment communities located near business, transportation and equipment centers that are essential to its customers. As of June 30, 1999 THE MF REIT’s multifamily portfolio included 84 owned and operated apartment communities, totaling 22,062 units in California, Arizona, Washington, Oregon, Nevada, New Mexico, Utah and Colorado. The company currently has six additional properties in various states of development, totaling 1,722 apartment units. THE MF REIT Properties, Inc. is currently employing leading-edge, top-rank technology – information systems (IS), residential high-speed Internet access, an Intranet, an Extranet and an Internet and Extranet web site – to produce internal growth and increase the revenue of its existing assets. Over the past three years, the company has made a strategic decision to establish itself as the technology leader in the multifamily industry. The company has allocated considerable resources to the IS/IT function. The technology introduced focuses on streamlining operations, and improving the quality level of communications and services to existing residents. The mission of the IT program is to exploit innovative technologies and return the benefits to the residents, shareholders and employees.
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