NREV’s asset management provides:
- In depth assessment of the property;
- A comprehensive Value Plan;
- Monitoring and reporting on progress; and
- Dedication to Plan goals.
NREV manages within the framework of a budget and provides variance analyses. Value Plans for different property types vary widely. Retail leasing typically targets tenants who attract customers within a demographic profile, while office leasing does not target similarly. NREV seeks out the tenants most likely to achieve the property’s goals. One way to incentivize an asset manager is to tie compensation to success in increasing a property’s value. Monroe authored an article in Southeast Real Estate News describing how granting a “carried interest” to the asset manager provides such incentive.