Albertsons LLC / Klaff Realty, LP
Faced with the management of its newly acquired portfolio of 700 individual supermarket properties, Albertsons knew it had to replace its manual due diligence and information sharing processes.
"Intralinks has become business as usual for us. It saves us time and eliminates a big hassle."
– Brian Shanfeld, Analyst, Klaff Realty, LP
A consortium of investors including Cerberus Capital Management, Klaff Realty, Lubert-Adler Partners, Kimco Realty, and Schottenstein Stores, managed the 700 properties collaboratively, each company having responsibility for different areas of the business. As a result, hundreds of people around the country needed to review and share critical information relating to the 700 stores.
The group needed a better solution to organize, store and provide access to the massive amounts of data. With hundreds of people needing access to a vast information library, the group turned to Intralinks.
Burning and mailing CDs was time-intensive and proved to be a headache. Often, after hours were spent preparing and shipping information, additional documents would be requested. Security risks created additional concerns as much of the information sent included confidential details. Mailing hard copies eliminated control over who ultimately had access to them.
The consortium leveraged Intralinks Dealspace as a corporate repository to facilitate information-sharing and to manage the hundreds of thousands of documents involved in the deal. The vast document library was organized into separate exchanges for each of the five Albertsons operating divisions. Each housed multiple property-level folders containing all documents related to the individual stores including architectural drawings and plans, operational information, leases, legal documents, appraisals, aerial photos and market demographics. Each provided strict identity and password protection, document-level permissioning, activity monitoring and the ability to protect sensitive files from unauthorized redistribution.
Today consortium members and external advisors, no matter where they are located, have immediate access to important documents. Information requests can be fulfilled in seconds. New documents are posted to the property folder and the system notifies permissioned users via email that new information has been posted.
With Intralinks’ unique tiered permissioning, a high level of security is maintained to ensure no one can view information for which they are not authorized. Additionally, pages within documents can be watermarked with customized text, a date stamp and the viewer’s identity. The consortium also uses Intralinks to facilitate due diligence when selling properties. Potential buyers receive access to specific information folders. Rather than spending hours creating and monitoring paper datarooms, the consortium provides access to interested suitors with just a few mouse clicks.