Asset management is a collaborative process between Trinity Property Consultants and Fowler Property Acquisitions (FPA). Senior FPA management and senior property management hold monthly meetings to assess goals and operational results, as well as to review strategies for financing and disposition. We believe that real estate markets and capital markets are dynamic and must be reviewed in light of property performance on a regular basis by senior management to maximize beneficial decision making for each asset. Each month we review the strategic plan and benchmark it with the property’s financial, and capital objectives. The asset manager coordinates with property management, leasing, and construction to ensure seamless operations.

Both on-site and regional managers are trained to handle the vast array of challenges in today’s market. Managers are compensated with bonuses based on goal achievements tied to a property’s bottom line. Yardi is used for property management reporting which gives us web based, real time financial and property reports. Monthly financial reporting includes a rent roll, cash flow statement, balance sheet, delinquency report, and leasing activity report. These reports can be customized to suit the client’s needs.

Initial Due Diligence. FPA’s initial due diligence process includes an analysis of the market and submarket, a cash flow analysis and a property inspection performed by FPA investment professionals as well as local management and construction personnel.

Comprehensive Due Diligence. For acquisitions, FPA’s exhaustive due diligence process involves third party consultants, FPA underwriting personnel, Trinity and Redwood due diligence teams. FPA is an expert at thoroughly completing the due diligence process which gives us a competitive advantage in the market place.

Construction. FPA’s construction team begins with a comprehensive site inspection. This includes a detailed inspection and walk through of 100% of the units, an inspection of all roofs and a detailed review of all common areas. After the site inspection, the construction team begins the bidding process for all major deferred maintenance items and proposed capital upgrades as a part of the overall business plan. FPA typically hard bids 60-75% of all deferred maintenance and renovation costs while in due diligence.

Operations and Leasing. FPA understands that aggressive leasing along with efficient operations are the keys to a profitable property. During the due diligence process and simultaneously with the construction review and bidding process, the property management team verifies the accuracy of the rent roll and performs a file audit on site. Trinity then conducts an independent analysis of comparable properties and proposed post renovation rental rates and expenses. FPA’s asset managers work closely with onsite property managers and leasing teams to ensure properties are maximizing net operating income. Our solid relationships with the brokerage community, aggressive leasing tactics, streamlined process and quick response time provide us with a competitive edge over others in the market.