Sacramento, CA, September 7, 2017 – ProEquity Asset Management Corporation announces new assignments of 1,320,000 square feet in the first half of 2017. This total includes 583,000 square feet of office product and 737,000 square feet of retail. The assignments’ locations span California, Arizona, Minnesota, Colorado, Texas and Washington and continue to grow, adding nearly 800,000 square feet under management in the third quarter.
“We are in a period rapid expansion,” says Brett Birkeland, Managing Director, ProEquity. “People are looking for a way to realize risk-adjusted returns, capitalize on a period of strong tenant demand and leverage out-of-the box strategic thinking. Our business model is meeting that demand.”
One of the larger portfolio management assignments for the first two quarters includes a receivership assignment of office properties in Colorado with LNR Partners and Private Portfolio Group (PPG) totaling 279,000 square feet. The addition of PPG to ProEquity’s roster of clients is the first entrance into the Colorado market for the firm.
“We seek to create significant value for our clients and their assets by focusing not only on near term property needs, but also by leveraging the depth of experience, our local partners and market insight,” notes Brett. “We’re looking at not just near-term cosmetic issues for an asset, but rather a much more long-term strategic vision that resonates with the market.”
ProEquity’s footprint of growth comes in conjunction with notable personnel expansions. In addition to the hiring of Brett Birkeland, based centrally in Austin, Texas, as Managing Director in May 2017, the firm has grown forty-six percent since the close of 2016, going from 13 to 19 full-time employees. As a full-service commercial real estate company, ProEquity offers not only asset and property management, but also services across the commercial real estate spectrum including: construction management, investment management, receivership, and leasing and sales advisory.