888 Realty Investors draws on its investment experience to offer, as a related business, asset management of real estate portfolios. On behalf of individuals,families and trusts, we apply our expertise to preserve and enhance the value of real estate portfolios. Asset management is a natural parallel with our investment activities – the same criteria we use in analyzing a potential real estate investment can equally be applied to a portfolio of real estate held by a another party.
As an asset manager, we serve as agent for the owner in all activities related to a real estate portfolio. Major decisions, of course, are reserved to the property owner, and the degree to which we consult with the owner is determined case by case. Our asset management assignments include properties along the East Coast as far away as Florida, and property types include multi-family, office, retail and land holdings for future development.
At the property level there is usually a property manager, leasing agent, contractor or fee developer under our supervision. Our function is to take a strategic view of the portfolio, usually set forth in a strategic plan with long-range projections of cash flow. Then, consistent with the strategic plan, we recommend improvements, leasing strategies, financings, acquisitions and dispositions for individual properties. After conferring with ownership and obtaining approval of our recommendations, we implement the decisions at the property level.
As asset managers we periodically inspect in person all the properties in a portfolio, usually announced but sometimes unannounced. We typically provide written and oral reports, attend meetings, send e-mails and make telephone calls as reasonable and necessary to keep the ownership aware of any significant developments or concerns. When applicable we also compile standardized and consolidated statements of operations for portfolio owners, on cash-basis or GAAP standards, as the owner prefers.
Total square feet under active management exceed 500,000 SF and approximately 1,000 acres of undeveloped land.