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CORE's Strategic Expansion into Property Management
Portland-based CORE is making waves in the commercial real estate sector with the recent expansion of its third-party property management division. This growth was not merely a matter of adding new contracts; it reflects a strategic investment in a diverse and complex portfolio of commercial and institutional assets. The increase in management responsibilities came about as CORE assumed control over properties such as the Clarks Pond Shopping Center, which is not only home to national tenants like Olive Garden and Rockler but also supports local businesses such as B.Good and Shaking Crab.
Your Key Partner for Comprehensive Property Management
As the needs of property owners evolve, so does the strategy CORE employs in managing their assets. Clients are increasingly seeking partners who comprehend the entire lifecycle of property management—beyond day-to-day operations—to how strategic decisions can usher in long-term value. According to Josh Soley, CORE’s president, “Clients are looking for a partner who understands the full lifecycle of a property—not just operations, but how management decisions impact value over time.” This principle shapes CORE's approach, ensuring that every aspect of property management is interconnected to optimize asset performance.
Team Growth Fuels Enhanced Services
An essential element of CORE's expansion is its focus on bolstering its team. Recent hires strategically address the growing complexity of their operations. This includes Stephanie Albert as the firm's first general counsel, who brings invaluable legal expertise in supporting acquisitions and long-term risk management. Additionally, Lance Govang, with extensive experience across the U.S. in residential and commercial property management, has joined as a central Maine property manager, overseeing 16 accounts across various locations.
The Vital Role of Financial Oversight
With a growing portfolio comes an increasing demand for financial accountability. CORE has expanded its finance team, bringing in Vincent Orsini as controller and Bethany Pendell as an accounting clerk. Their aim is to solidify financial controls and improve reporting capabilities. This layer of oversight is crucial to control operating costs, effectively manage budgets, and ensure compliance, creating a more stable environment for both tenants and property owners.
Long-term Value Through Tenant Engagement
Strategies that focus on tenant relations are key to CORE’s management philosophy. By prioritizing tenant satisfaction and engagement, CORE helps foster a stable rental environment, which is vital for income property administration, commercial asset administration, and multifamily housing administration. Addressing tenant needs can lead to reduced vacancies and improved property performance.
In today’s market, it's clear that successful property management is much more than just oversight—it's about creating a holistic approach that balances operational execution with strategic foresight. With its expansion into third-party management services, CORE emerges as a key player in the real estate landscape, ready to meet the demands of an evolving market.
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