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IRVINE, CA-Sperry Van Ness International Corp. has launched a new property-management franchise product called Sperry Van Ness Property Management Services. The franchises offer real estate investors comprehensive property-management services including strategic local-market advice, sales and leasing, building maintenance and service-call response, tenant retention, capital-improvement management and detailed account reporting.
In addition, the product includes a newly launched master insurance program that brings lower deductibles and more comprehensive property-insurance coverage to SVN/PM Services clients. The system helps investors achieve greater operational efficiency and maximize return on investment.
SVNIC achieved significant growth in 2012 and is poised for additional expansion in the coming year. “This has been an exceptional year for Sperry Van Ness International Corp.,” said president Kevin Maggiacomo in a prepared statement. “Not only have we outperformed projections, but we have expanded our foundation in a way that sets the stage for an even better year in 2013. In addition to our expansion in services and franchises, we have brought on some key executives to continue to build the infrastructure and platform and will be making more announcements of exciting hires in the first quarter of 2013.”
Twelve new franchise offices and 10 satellite offices were added in the last year, with several more expected to open prior to year end. The company also experienced 29% increase in revenue in addition to launching an auction-services platform—on which GlobeSt.com previously reported—and expanding into specialized markets such as marinas.
Maggiacomo tells GlobeSt.com, “The launch of our property-management platform is a natural fit for our model and allows us to apply our leasing and investment-sales expertise to the value-add side of management.”
In terms of expansion, Maggiacomo says the firm has been pleasantly surprised with the interest in the PM Services product. “We quietly launched mid-year and have quickly grown to 14 offices. Our aggregate under management is now just over 35 million square feet and 19,600 apartment units.”
In terms of winning new assignments, the PM product is proving to be strong out of the gate, he adds. “Last week, we signed on an equity fund that has properties coast-to-coast, and we were able to take on the assignment for both property management and disposition services.”
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
