Emory Hill’s Property Management Division had a busy year. In just over the past 12 months, the company gained 23 new property management assignments totaling
764,000 square feet.
The company is based in the New Castle area.
Twenty of these assignments were awarded by new third-party clients, whereas the remaining three were for properties acquired by Emory Hill affiliates.
Emory Hill is actively seeking a seasoned commercial property manager to join the team. “Our ability to successfully bring this new business on board is a testament to the strength of Emory Hill’s team and management platform,” said Clayton Hill, director of property management. The team is comprised of six commercial property managers and nine accounting personnel.
Of the 23 new assignments, six properties are industrial flex, eight are office, two are medical office, three are medical office condominiums, two are medical office condominium associations, and two are commercial maintenance corporations. The source of this new business is also varied.
Three are property acquisitions made by Emory Hill-related entities.
Five assignments come from new acquisitions by various buyers, in most cases where Emory Hill has been retained prior to settlement to assist with a smooth ownership transition.
Seven assignments comprise a portfolio owned by a prominent local family who developed and self-managed the buildings until recently electing to outsource their management as well as brokerage and maintenance needs.
“Emory Hill was a natural fit given our ability to provide all of these services under one roof, as well as construction services for new tenant fit outs,” said. Hill. Another five assignments were the result of Deaton McCue transitioning out of property management.
These clients elected to enter into new management agreements with Emory Hill.
The remainder of assignments were self-managed properties Emory Hill won through a competitively bid process.
“We’ve spent years creating a scalable platform and building a team that has the experience and skill set necessary to serve our clients well. Above all else we treat all of our management assignments as though they are our own properties.” Emory Hill’s entire management portfolio now includes 97 properties totaling in excess of 4.5 million square feet, over 700 multifamily units and more than 600 condominium association and maintenance corporation members,” Hill stated.
