Case Study: Lightstone achieves real-time project visibility and cost savings with Procore

Real-time project insights illuminate Lightstone’s success

Lightstone, a privately held REIT with a $3 billion portfolio across 28 states, develops and manages residential, hospitality, commercial and retail properties. Because Lightstone uses third-party managers to run construction and capital projects across thousands of hotel keys, VP Marc Dober lacked real-time visibility into budgets, timelines and day-to-day progress; managers relied on error-prone Excel sheets that created version-control problems and made oversight difficult.

In 2016 Lightstone implemented Procore, quickly gaining centralized, real-time project data and broad buy-in from third-party managers, general contractors and internal teams. Mandating Procore for project tracking improved transparency and control, eliminated the need to hire 3–4 additional staff for project oversight, and created a growing historical cost and vendor database that enables data-driven decisions to reduce costs.

Lightstone

Marc Dober

VP of Asset Management