Asset Management Property Management
Enhancing the value of real estate investments through capital improvements
Blumberg Capital Partners provides property management services for its investment management clients, as well as for its corporate services clients. Our property management philosophy is to constantly seek to enhance the value of the real estate investment by making selective capital improvements to upgrade the property, aggressively controlling operating costs, and managing risk. Examples of capital "upgrades" include conference and fitness facilities available exclusively to our tenants at no additional charge.
We control operating costs by utilizing batch bidding and scheduled re-bidding, as well as implementing energy management systems that track and control energy costs. Finally, we maintain a strict focus on avoiding imprudent, uninsurable property risk.
Case in point: The Blumberg Capital Partners Property Fund acquired the Three Riverway office building in November 2000. The building is a 400,000 square foot, Class "A" office property located in Houston's prestigious Galleria area. Like many of the major office towers in Houston, Three Riverway can be vulnerable to rising waters of the nearby Buffalo Bayou.
Accordingly, we made our acquisition contingent on the installation of a specially designed floodgate system and then implemented emergency procedures to ensure its proper use in the event of a storm.
In June 2001, Tropical Storm Allison flooded Houston with over 40 inches of rain. Our effective, proactive steps to protect the asset resulted in Three Riverway opening for business without significant damage on the Monday morning after the storm. Meanwhile most other major office buildings in the path of the floods incurred major damage, and were closed for several days. The effectiveness of our property management was featured in the network news and in the local media.