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Textura Signs Shopping Center Developer Regency Centers for Construction Payment Management

Posted on: Thursday, 5 November 2009, 09:00 CST

CHICAGO, Nov. 5 /PRNewswire/ -- Textura Corporation announced the addition of shopping center developer Regency Centers to their U.S. client base. With 400 properties nationwide and over 45 development projects, Regency Centers will utilize Textura's workflow-based software to streamline communications, facilitate electronic payments and automate document completion throughout their construction process.

Jack Heinemann, Vice President of Construction for the Southeast Region, said, "One of Regency's core values is to execute industry-leading systems in order to maximize shareholder value. We saw firsthand through our process mapping exercise how Textura would streamline the entire payment application process. Furthermore, it would enhance our relationships with our contractors and subcontractors."

Textura's patented system supports Regency's accounting system, helping to mitigate risk and ensure financial integrity while eliminating data entry. "Regency has adopted the Textura application to expertly manage our development costs," stated JR Leahy, Manager of Development Accounting for Regency Centers. "Textura protects against liens with safeguard features such as a lien recording system and electronic approval signature process. Plus, it has an expedited payment system which benefits Regency and our general contractors and subcontractors."

Patrick Allin, Textura CEO, says, "Regency represents an important milestone for our organization. Regency is the leading developer of grocery-anchored and community shopping centers and the 11th largest retail real estate developer in the U.S. They followed a rigorous process to investigate and assess Textura's application and its fit within their organization. This ensured extensive buy-in throughout their organization for the implementation phase. We especially appreciate how they have teamed with us to train their contractors and subcontractors on the Textura system."

For more information about Textura products, visit www.texturacorp.com or call 866.TEXTURA (888.839.8872).

About Regency Centers Corporation

(NYSE: REG)

Regency is the leading national owner, operator, and developer of grocery-anchored and community shopping centers. At June 30, 2009, the Company owned 409 retail properties, including those held in co-investment partnerships. Including tenant-owned square footage, the portfolio encompassed 54.7 million square feet located in top markets throughout the United States. Since 2000 Regency has developed 194 shopping centers, including those currently in-process, representing an investment at completion of $3.0 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.

About Textura

Founded in 2004, Textura has developed the only robust collaborative industry solutions for construction payment management, Textura - CPM, and for pre-qualification, Textura - PQM. Textura - CPM integrates all construction payment management process components into one seamless work flow, helping contractors and others involved in construction projects realize significant benefits from automation and streamlining. Textura - PQM automates the entire pre-qualification process for everyone by facilitating the electronic submission, review, approval and updating of all pre-qualification documents. Please visit our website at www.texturacorp.com.

SOURCE Textura Corporation

Source: PR Newswire

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