Vesta Asset Management, Inc.
The Firm Vesta Asset Management, Inc. is a comprehensive commercial and residential management firm that operates under the principle that assets don't stagnate when they are managed progressively by a team that drives consistent revenue and strategic asset growth for it s clients- where consummate performance is the lens by which success is measured. Our business utilizes sustainable methods of effective operations, to drive business and increase property asset values for our clients. From data analysis, to in-house maintenance and project management, Vesta and its Principals focus on analytical problem solving and cumulative business acumen to mine data to provide key insights and high-level recommendations V and create a streamlined approach towards strategic growth for our client's investment portfolios.
Leadership Vesta Asset Management, Inc. is led by Paula Griffiths whose residential and commercial real estate management career spans over a decade in New York and San Francisco. She strategically focused her experience in the residential and commercial markets because she believed in the importance of gaining holistic perspectives on how these markets operate in totality to each other, collecting best practices along the way. After spending several years managing the operations of over 1.2M feet of commercial space located in Times Square New York, she moved to San Francisco to focus on the area of real estate asset management. Her first property management firm was purchased by Pacific Union Property Management in 2012 and she continued with them as a consultant, providing management support. She streamlined the business model, evaluated internal operations and communications, and developed a strategic plan for expansion of the business and provided oversight of over 2,400 residential and commercial units. She also partnered with Pacific Union International in the management and development of their Joint Ventures of Mortgage Services, Insurance Services and the Property Management Division until the inception of her current firm. The Principals at Vesta Asset Management are leaders and savants in the real estate industry. Our team specializes in project management, tenant retention strategies, luxury sales and leasing, due diligence, marketing and unit valuation, lease negotiation and enforcement, property operating performance, 24/hr. tenant contact, and facility inspections. We manage a portfolio of investments across multiple property types including office, retail, mixed-use, and single and multifamily residential.
Commercial Management Comprehensive and Holistic Management: The combination of our expertise, flexibility, experience and exceptional make us extremely well suited to be your service partner. We are constantly developing and improving upon management systems, quality programs, technical expertise, and technology that produce measurable improvements in operating efficiency and cost savings. Our resources and the talent available with Vesta Asset Management, Inc. give you the winning edge. We provide the following property management services: Lease Compliance and Administration Tenant Services and Relations Vendor and Contract Management Emergency Preparedness Sustainability Initiatives Emergency Procedure Preparedness Accounting and Financial Reporting
Lease Compliance and Administration Lease Compliance and Administration: Ensuring the accuracy of lease information including notice dates, encumbrances, rent, real estate taxes, insurance, common are charges, tenant improvement recovery, sublease payments and profits is vital to the successful operation of the asset. Critical date management including expirations, rent increases, notice dates, insurance expirations Critical information management including contracts, expense caps, exclusivities, allocations, lease options Enforce tenant performance of lease provisions Tenant Services and Relations: Delivering Vesta s standard exceptional service and focusing on consistency while fostering tenant relationships will ensure tenant satisfaction and improve tenant retention. Tenant correspondence Develop and implement tenant relationship strategies Regular tenant visitation by the property management staff Responsiveness, prioritization and follow up to all tenant requests 24/7 access to property management personnel for day-to-day operations and after-hours emergencies
Tenant Services and Relations Leasing Interface: Presence of a local, on-site property representative to collaborate and support the leasing agents to achieve the owner s goals with respect to leasing and occupancy is the key to the success of the asset. Our property management team is always available to provide assistance for touring, answer questions and support the listing agent/brokerage professional. Support leasing objectives as determined by the owner Provide and confirm availabilities Participate and/or conduct tours with prospective tenants as needed
Vendor and Contract Management Vendor and Contract Management: By exercising economies of scale in the local market, Vesta Asset Management Inc. will ensure competitive pricing and value of service from vendors, as well as improved property appearance and operations. Competitive bidding to ensure the highest level of service at the best price Vendor compliance with insurance requirements Review and restructure of scope of services Contract administration Performance management Warranty administration when applicable
Sustainability Initiatives Implementation of Sustainability Initiatives: Vesta Asset Management Inc. operates their buildings to maximize energy efficiency, recycle materials, limit waste, and utilize green cleaning practices to limit the impact on the environment. Energy Star registration Recycling and composting Tenant education Client assistance in achieving LEED certification Effective operating practices to implement low or no cost green initiatives
Emergency Procedure Preparedness Emergency Preparedness and Implementation of Safety Program: Emergency preparedness and safety is integrated into the daily business operations of all Vesta Asset Management, Inc. managed properties to ensure the safety of tenants and employees, assure tenants that their interests are protected, shorten recovery time following an emergency event, and reduce liability exposure for our clients. Property specific emergency contacts, including emergency response personnel, local vendors, regional support personnel and tenants Documented safety policies and practices tailored to the property Property specific safety manual
Accounting and Financial Reporting From processing basic day-to-day transactions to complex accounting and reporting needs, our accounting professionals deliver financial information that is both accurate and timely. Our collaborative approach between Property Manager and Property Accountant allow us to deliver client financial reports that enable you to make sound business decisions regarding your investment. We have a sophisticated standard financial reporting package that we tailor so that it fits your unique reporting needs. Whether your accounting needs are for one building or a portfolio of buildings, our scalable approach allows us to deliver a quality financial report in a cost efficient manner. Vesta Asset Management, Inc. has implemented control procedures to reduce financial risk in the following areas: Cash Management Purchases Cash Disbursements Completeness and Accuracy of Rent Rolls Tenant Billings (escalations, CAM, and related reconciliations) Compliance with Management Agreement Monthly Accruals (e.g. percentage rent, straight-line rent, expense, escalation, etc.) Depreciation for Capital Additions Financial Reporting: Our accountants prepare the reporting packages in accordance with the client s frequency request, specifications, and requirements. During preparation of the preliminary reports for review, the accountant completed a comprehensive financial statement pre-close interactive checklist, which addresses all aspects of the data from the tie-out process, supporting schedules, documentation of reconciling items, and report formatting. Upon completion, the accountant sends the monthly reporting package to the property manager for review and approval.
Contact P.415.994.3033 info@vesta-assets.com www.vesta-assetmanagement.com