CREATING VALUE THROUGH THE POWER OF DEVELOPMENT
Tristate Ventures, L.P. (Tristate) was established in 2001 as a development company specializing in retail and residential real estate. It has played a leading role in developing and repositioning a diverse portfolio of properties that includes grocery anchored strip centers, enclosed malls and power centers and planned unit developments. Tristate’s success is based on its in-depth knowledge of development, brokerage, real estate law and construction management. It has also effectively partnered with venture capital firms, including American Realty Advisors, Cedar Shopping Centers, Investco, Benefit Street Partners, Bridge Funding and other investment groups in some of its projects. Tristate Ventures’ portfolio is comprised of more than 3.5 million square feet.
Tristate’s principal was a partner in Fameco Real Estate, L.P (Fameco). Fameco was the Delaware Valley’s premier full service brokerage firm specializing in retail real estate, they have completed hundreds of transactions with tenants including Wal-Mart, Lowe’s Home Improvement Centers, Home Depot, Borders Books, Wegman’s, LA Fitness, Best Buy, Staples, and Petco, among many others. In addition, Fameco managed approximately 11,000,000 square feet of retail shopping center space. In concert with the marketing and asset management programs implemented at Fameco, Tristate Ventures has consistently developed profitable retail shopping centers and transformed troubled properties into stabilized income producing assets. Fameco Real Estate and Fameco Management were sold to CBRE in 2014.
Like its affiliated company Fameco, Tristate has a regional focus, but also a national reach. The synergies created between these organizations allow Tristate to leverage relationships, knowledge and expertise on a national basis. These relationships give Tristate access to a vast network of resources from buyers and sellers, to developers, to active retailers to investment funds. The depth of market knowledge, understanding of retailer requirements and landlord leasing acumen serve to complement Tristate’s skills and ultimately lead to maximizing asset value. Whether the goal is to reposition an under-performing property or develop new, Tristate “creates value through the power of development”.
DESIRED PROPERTY TYPES
We are looking for stabilized neighborhood or community centers, ground-up projects and 55+ communities. These properties will optimally have high barriers to entry and demographic profiles that meet or exceed the MSA averages. Additionally, we look to acquire centers or develop land that offers the potential to enhance property revenue through expansion, remerchandising, or redevelopment.
Retail: Prefer mid-size transactions between 100,000+ square feet of existing and/or to be developed square footage -- no maximum dollar amount.
Residential: Prefer 200+ units.
We seek to acquire existing centers or developable land located in Metropolitan Areas throughout the Mid-Atlantic region of the United States.
KEY BUYING CHARACTERISTICS
Experienced, in-house due diligence team facilitates quick close
Able to assume existing financing
Quickly analyze merits of a property due to extensive retail contacts
CONSTRUCTION AND PROJECT MANAGEMENT
Capital improvement planning
Construction budget preparation
Plans/specs approval by ownership and governmental authorities
Our success can be measured in the long-term relationships we have developed with owners and tenants. Our highly trained and experienced managers will assess the overall health of the property and present a comprehensive course of action designed to maximize its potential. This approach ensures the careful, fiscal management of the asset and sets the standard for the industry. We also offer top-notch in-house leasing and financing.
Meticulous attention to detail
Liaison between owners and tenants
Scheduled and unscheduled site visits
Coordination and oversight of all aspects of site maintenance and operation
Prompt response by maintenance team
Oversight of renovation and leasehold improvement projects
Financial health assessment and action plan development
Budget preparation and analysis
Comprehensive financial statements including monthly operating reports detailing actual to-budget variance analysis, monthly re-forecasting, comparative income statements and quarterly cashflow analysis
Rent collection and accounts payable management
Complete annual CAM reconciliations
TSV Management, Inc. is a full-service management company that tailors our services to match the needs of our clients and adapt to their market. We assist owners by enhancing their investments through unparalleled asset management, property management, construction management and leasing. Throughout our years of service to clients our team has gained the experience and expertise to provide you with all the resources and guidance you need to succeed.
TSV Management offers its clients a full-range of construction coordination services from ground-up development to tenant fit out. Our team is comprised of professionals with more than 25 years of collective experience in planning, development, design, and construction operations. We will be there from project inception, through approvals, to grand opening and including the multitude of steps in-between. TSV Management works in conjunction with ownership to ensure the project's successful completion.
Working drawing preparations
General contractor bid qualification and selection process oversight
Physical construction management