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Success Stories

Allegiance Commercial Office Portfolio

Property Type: Class A and B office buildings

Location: Ohio, South Carolina, North Carolina and Georgia

SF: 2 Million

# of Units: Portfolio of 12 office buildings

Operating Expense Savings: Saved $145,000 in operating costs while reducing accounts receivable by $800,000

Value Created: Over $2,000,000 of value created in the first 12 months

BACKGROUND
Allegiance had previously self-managed its portfolio of 12 office buildings. Wanting to free up its team to focus more on acquisitions and development opportunities, it appointed Trigild to assume property management and day-to-day operations. Trigild’s goal was simple: provide full service and strategic engagement to maximize value for the client.

APPROACH
Trigild evaluated each property’s respective needs and determined it was necessary to put a series of programs and practices together to reduce costs and ensure smooth operations, among them:

  • Implemented Standard Operating Procedures and in depth training; including weekly operational calls with each property, quarterly portfolio calls and reporting
  • Created a seamless transaction of financial documentation
  • Allowed onsite staff the autonomy to run and manage the asset while educating managers and orchestrating weekly briefings
  • Raised the tenant servicing platform and developing closer relationships with the tenants, resulting in lease renewals and expansion
  • Created a budgeting process that includes business plans and cash flow analysis for each property
  • Audited and reconciled financials both past and present

PERFORMANCE SUMMARY

  • Built tenant and vendor relations making them partners and ensuring both parties felt sense of accountability and ownership in each portfolio asset
  • Generated more revenue for the client by enforcing rent late charges pursuant to the tenant lease
  • Reduced operating expenses by $145,000 in the first year by implementing improved lean systems and rebidding existing services, creating over $2 million dollars of value-add to the portfolio
  • Reduced accounts receivable by $800,000
  • Significantly reduced overhead while increasing the quality of service which allows the client to focus on core competencies and future growth
  • Put standard operating procedures in place, with highly effective measures taken to maximize value