REIT Implements TPG Accounting Software Suite
Capstead Mortgage Corporation (CMO) implemented the financial accounting software suite of TPG Software, the two companies announced. Capstead is a Dallas-based real estate investment trust (REIT) that manages a portfolio of adjustable-rate and agency-guaranteed residential mortgage pass-through securitizations. TPG is a Houston-based financial accounting software developer. “We are very pleased to add Capstead to our growing list of REIT clients. TPG offers the functionalities for accounting, managing risk, and reporting that are critical for real estate investment trusts,” said Cory Sokoloski, TPG Software vice president. “While we wanted to improve the functionality of our core system, we were keenly aware of the record keeping requirements for our investment portfolio, including related borrowing and derivative activities,” said Mike Brown, Capstead senior vice president and treasurer. “Accordingly, we wanted a vendor with extensive experience in designing systems for mortgage-backed securities with a strong accounting background.” Write to Austin Kilgore.