Asset Management
MayfieldGentry actively manages and maximizes the performance of the real estate assets owned by our clients. Each client property is assigned to an Asset Manager. We maintain a conservative asset manager to property ratio of 1:10. The asset manager is responsible for the day-to-day operations of the property and reports to the Principal Officer. The Principal Officer is responsible for overall performance of the client’s portfolio.
Asset Manager Objectives
MayfieldGentry Asset Manager objectives include, but are not
limited to:
- Maximizing of the net operating income and investment value of each asset under management
- Monitoring the national real estate market as well as the submarkets where clients own real estate assets
- Engaging and supervising leasing and management firms servicing client assets
- Negotiating leases
- Evaluating capital improvement projects as well as making strategic decisions impacting the assets including decisions to hold or sell a property or to change a property’s emphasis or focus
- Implementing risk management strategies
- Adhering to industry accepted “best practices” designed to protect client assets and increase investment value
Additionally, the Asset Manager and Portfolio Controller are responsible for maintaining industry standard and accepted financial and accounting controls in order to maintain consistency and accountability for the assets managed. Our internal control system protects client assets, detects errors in reporting and cash management and ensures the reliability and validity of information produced for our clients.
Asset Management Plan
Subsequent to an acquisition or transfer of a property, an asset management plan is created focusing on the strategic and tactical issues of the property. The asset management plan is prepared by the Asset Manager assigned to the property, in conjunction with the Leasing Agent and Property Manager. The asset management plan is updated annually and is submitted to the client not less than 60 days prior the client’s fiscal year end. The plan includes:
- A thorough evaluation of the property’s forecasted
financial performance - An operating and capital budget
- An analysis of the tenant mix of the property
- The space configuration of the property
- Market analysis
- Strategic leasing issues
- A description of property and asset management fees
- A cash distribution schedule
- Planned capital improvements
This approach helps to create value through a more disciplined tracking process and through sheer involvement with the properties. As performance is tracked, assumptions are revisited and updated constantly focusing on meeting the client’s investment goals and objectives. This strategy creates a blueprint for performance.