ASSET MANAGEMENT |
Effective asset management requires a comprehensive understanding of the macro investment environment and an understanding of each individual asset and its position in the local market. Our Asset Management Team is responsible for overseeing a geographically diverse portfolio of properties with a variety of risk-profiles. The scope of our asset management services ranges from monitoring the operations of individual assets in our portfolio, to developing comprehensive capital allocation strategies for family offices, high net worth individuals and institutional investors.
The core responsibilities of our Asset Management Team include:
I. Risk Management
Our approach to risk management is to use every tool available to anticipate and mitigate potential problems. Our first investment goal is to preserve and protect the capital we manage before looking at opportunities for growth. To that end, we have developed a comprehensive asset review and monitoring program that manages investment risk by:
Ensuring compliance with regulatory entities, and internal and external governance agreements, such as joint venture agreements, loan documents, partnership agreements and trust documents; developing comprehensive insurance coverage plans for each asset and partnership that addresses each investment's unique circumstances; creating regular market analysis reports that track a wide range of variables, including the state of the capital markets, investment activity, and the individual supply and demand conditions in our investment markets; and managing capitalization structures and debt maturities.
II. Performance Review & Reporting
Our asset management team works closely with our acquisitions and management teams to translate the original investment thesis into a workable operations plan. We then process an extensive amount of market, operating and financial data to analyze performance and hold ourselves accountable for the success or failure of each investment. We seek to provide complete and total transparency for investors and owners through regular, comprehensive reporting packages that include:
Presentation and narrative review of all financial and operation statements; analysis of equity returns; and ongoing valuation of ownership interests based on market conditions.
III. Evaluate & Execute Alternatives
Each asset presents unique opportunities for sale, refinance, reinvestment, or management improvements. Our asset management team continuously evaluates alternative investment, financing, management, or disposition strategies for assets in our portfolio. Specifically, we look for opportunities to:
Redeploy cash back into existing projects to compound capital at above-market rates of return without transaction costs or additional debt risk. Restructure our financing to achieve the right balance between the cost of capital, leverage ratios, maturities and interest rate risk; and reevaluate our competitive position in the market to capitalize on changing market trends.