Richmond, VA (PRWEB) August 01, 2014
An institutional real estate investment firm finalized a contract this week with Allegiancy, selecting the Richmond, Va.-based real estate asset management firm to oversee the tactical and strategic operations of its newly acquired 430,000-square-foot office park in North Carolina.
The private equity real estate investor acquired Research Commons, a $ 62 million, five building office complex in Research Triangle Park, N.C., on July 10.
To execute a value-add lease up strategy at Research Commons, the new owners turned to Allegiancy, specialized in the commercial real estate asset management of office buildings, to maximize their return on investment and deliver results quickly.
The senior principals at Allegiancy were heavily involved in this acquisition from the beginning, said Steve Sadler, Allegiancy CEO. The private equity investor needed an asset management partner that really understands the property itself and the business plan to maximize its value.
For a property like Research Commons to thrive, a commercial real estate asset management firm needs both the capability and track record to not only make strategic decisions that maximize the potential of the property, but also provide tactical oversight to execute on those decisions.
Allegiancy fits the bill and we are pleased to have this opportunity to serve sophisticated institutional investors, Sadler said, noting the tremendous upside potential of the Research Commons portfolio.
Fully realizing that potential will require focused leadership and attention to detail which is perfect, because that is what we do here at Allegiancy, Sadler said. We dont just want to protect the investment property owners made. We want to enhance it.
While paying bills and collecting rents are an important part of operations and the support Allegiancy provides, Sadler said, our job is to create enduring value. With all of the properties we manage, we find opportunities to operate more efficiently, creating increased profitability for all the stakeholders owners, tenants, and our own investors.
Allegiancys formula to make that happen includes significant investments in quantitative analytics and information technology to ensure were not only operating smarter, but we are also working faster and making immediate impact, Sadler said.
It also includes deploying an aggressive approach to executing leasing opportunities, which starts with researching and working with only the best and most successful brokers in the markets where their properties are located.
At Research Commons, Allegiancy is already working with the local CBRE brokers on leasing opportunities, work that commenced even before the transaction closed.
The marketing plan is in place, materials are ready to go and prospects are setting up tours as we speak, said Dan Simons, Allegiancy Chief Operations Officer, who has personally been on site of the property multiple times. Were not just saying were responsive. We show it. We are committed to exceeding the investors expectations on filling vacancies with a Class A tenant.
Allegiancy has also recently earned commercial real estate asset management contracts in, among other locations, Ohio, Georgia and Florida.
Our growth is based on the fact we have a history of success in executing on what we said we would do, Sadler said. Its that simple. We have consistently delivered on expectations and owners appreciate that.
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Allegiancy is changing the business of asset management for commercial real estate owners and investors. With an advanced technology platform and singular focus on serving as the owners advocate, the company brings fresh vigor to an often poorly understood business. Combining its proactive Value AssuranceSM operational rigor with an intense focus on cash flow and profitability, Allegiancy is expanding on a track record of more than four decades of success.
Headquartered in Richmond, Va., and led by a team of seasoned professionals with more than 100 years of experience, Allegiancy manages properties that have outperformed their peers by 45 percent since 2006. The company has more than $ 300 million in assets under management (AUM) and delivers to clients attractive returns and profitable, hassle-free investments in commercial real estate.
More information about Allegiancy may be found at http://www.allegiancy.us.
To schedule an interview with Allegiancys leadership, contact Audrey Bevel at audrey(at)allegiancy(dot)us or 866.842.7545 ext. 204.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon the Allegiancy, LLCs (the Company) present expectations, but these statements are not guaranteed to occur. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the Risk Factors section of the offering circular dated January 14, 2014 and filed by the Company with the U.S. Securities and Exchange Commission on January 15, 2014. The offering circular, and any supplements or updates thereto, is available on the EDGAR system located on http://www.sec.gov.
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