Wallick’s Newest Business Unit Brings Value to Owners
Since its creation in late 2012, Wallick’s Asset Management team has already created economic value for third-party property owners and for the company. Acting as the owners’ representative, this team has:
- Acquired four new properties and limited partnership interests in more than 35 properties
- Sold two non-core properties
- Raised new capital through a private placement transaction
- Re-financed 11 properties through various financing programs
- Applied for and received a Multi-Family Housing Preservation and Revitalization (MPR) award from USDA Rural Development
- Worked with Property Management to improve operations, including optimizing rents and reducing real estate taxes
- Established a system of key metrics to quickly identify property performance issues
- Turned around troubled assets
“This past year was a mix of offense and defense, as well as some home runs,” said Wallick Senior Vice President of Asset Management Sharon Shaffer. “Looking ahead, we intend to continue to enhance the value of our portfolio, with the ultimate goal of having every community one that any of us would be proud to call home.”
