Property Management
As developers, owners and managers of real estate, Blackstone Management understands what it takes to create, improve and maintain the short and long-term value of an asset. Third party owners benefit from the lessons we have learned in managing and improving our own portfolio of office, medical and industrial properties since 1935.
With 2.0+ million square feet of assets currently under management, Blackstone Management offers asset management, investment management and leasing services to owners of corporate and investment grade commercial real estate. We are an effective and efficient property management for example, 195 Collyer Street in Providence, R.I. is the foundation of investment success for our clients. Owned by several Doctor groups, the University Medical Center partnership hired us to manage not only the physical building and grounds, but also to perform all of the financial reporting and business functions for the owners. They relied on our years of experience, contacts and honest approach to take the very best care of their asset to maximize their investment. Experience taught us that improving and maintaining a property’s value begins with a focus on creating the best possible experience for the tenants. Our properties have an average tenant retention rate of 82%, as well as occupancy rates that consistently exceed the market average.
Our management team carefully evaluates a property’s operations, physical condition and tenancy from the perspective of a long-term owner. We only make recommendations for improvements that we know will increase occupancy, achieve the highest rents and ensure the maximum return on investment for owners.
Blackstone Management’s property division is known for its creative approach to problem solving, innovative ideas in the workplace and the integrity of our organization. Our team of professionals has an average of 18 years experience in the industry and works with the highest quality technology and systems to effectively and efficiently manage our client’s properties
Our Services and Expertise Set Us Apart
- Accounting Services: Payment of all property expenses. Review of mortgage and real estate tax payments. Provide annual budget with recommendations for capital expenditures. Reporting occupancy rent roll, budget, etc.
- Lease negotiation: Coordinate between us and owners. for new leases and renewals. Rent collection. Rent relief and lease restructuring negotiation.
- Budget development and management: Maintenance, marketing, personnel, and operations
- Maintenance management: Contract specifications. Property Inspections
- Tenant relations: Maintain relations and rent collection
- Project management construction, equipment, supplies, contracted building services, insurance coverage
- Other Services: Assistance with real estate tax assessment and abatements. Coordination with owner’s legal counsel regarding litigation. Marketing strategy and programs, Compliance procedures for government and administrative rules and regulations for health, fire and safety codes, Property insurance procurement
MEDICAL & OFFICE BUILDING AND INDUSTRIAL PROPERTIES
Blackstone Management commercial property management team is uniquely focused on providing an ideal experience for the owners and tenants of commercial real estate. They focus on office & medical offices and industrial commercial property management. By choosing Blackstone Management you ensure that your investment is being managed by someone who has unrivalled management experience in all facets of commercial real estate. While our company has reached sufficient size to enable organization efficiencies and numerous failsafe policies, we have not lost our ability to provide extraordinary customer service. When your property needs repair work, our team is ready to jump into action. We coordinate maintenance with tenants and make certain the job is done right. We understand that different properties need different approaches to commercial property management and our team is flexible and innovative. You can take great comfort in knowing that our experience is your success.