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| Additional information |
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| Asset Plus Corporation |
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Overview:
Asset Plus Companies was founded in Houston in 1986 as a third party property management firm specializing in providing a variety of real estate services to investors, developers, and institutional owners. Over the last 23 years, the company has served as property manager and asset manager to over 54 million square feet of properties including 50,000 apartment and student housing units, and over 13 million square feet of office, retail, and industrial space. A significant number of these projects required renovations and/or extensive lease-up, after which the properties were typically refinanced or sold. This "value-added" approach has resulted in substantial gains for our clients / investors.
Today, the company oversees a portfolio of 130 properties located throughout Texas along with properties nationwide. This portfolio contains approximately 14 million square feet of space representing property values of over $1 billion in multifamily, student housing, office, retail and other property types. Included in this portfolio are those assets managed for third party clients, and also a number of properties owned by principals of the Company.
To accommodate this workload, the company has assembled a staff of over 800 with corporate headquarters located in Houston, TX and regional offices located in Bryan/College Station, TX, San Jose, CA, Parker, CO and Nashville, TN. These personnel have expertise in development, property management, asset management, acquisitions and dispositions, leasing and marketing, financial analysis, construction supervision, accounting, and other asset management functions.
As a result of the extensive experience gained through providing services to "third party" clients, the company has also become involved in acquisitions of property as principals. Since 1995 the company has been actively acquiring or developing assets in partnership with investors, both private and institutional. Michael S. McGrath serves as principal for all assets acquired or developed, and to date has purchased properties with values of approximately $500 million.
In 1998, Asset Plus expanded its student housing presence and formed a student housing division, Asset Campus Housing. The company is engaged in the management, asset management, development, and investment of approximately 21,000 beds catering to students of universities on a national basis.
This year we are currently involved in three development projects; a Class “A” 270 unit multifamily housing project located in San Antonio, Texas; a 300 unit Class “A” property located in Beaumont, Texas; and a 681 bed student luxury with mixed use retail consisting of 9,000 square feet in College Station, Texas.
Additionally, Asset Plus is a member of the Houston Apartment Association, Texas Apartment Association and National Apartment Association. We are members of the National Multihousing Council and have been recognized by the Institute of Real Estate Management (IREM) as an Accredited Management Organization (AMO) firm.
We approach property management with a focus on outperforming the market and our competitors. Our services are carefully tailored to the specific needs and requirements of each individual client, providing a boutique approach to property management. By combining owners’ goals with our property management expertise, Asset Plus adds value to real estate throughout the country. The firm brings over twenty years of experience and a depth of knowledge to all its management clients.
Our Services Include:
* Asset Valuation
* Budget Preparation
* Construction and Capital Improvement Supervision
* Cost Analysis
* Daily Operational Responsibilities
* Financial Reporting, including Accounting and other Supervisory Functions
* Market Research and Analysis
* Multi -Year Discounted Cash Flow Projections
* Professionally Trained and Experienced Staff
* Resident/Tenant Selection
* Tax Credit Compliance
Our approach to property management is to provide responsive and professional services. We continually strive towards excellence in delivery of those services and hold that expectation with every member of our organization. |
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