Voit Advances Distressed-Asset Mandate Via $100M Portfolio
- Jun 03, 2010
June 3, 2010
By Allison Landa, News Editor
LAMCO L.L.C., a subsidiary of Lehman Brothers Holdings Inc., has named Voit Real Estate Services project manager and property manager of a 12-asset industrial, office/flex portfolio across five western states: California, Nevada, New Mexico, Oregon, and Washington. The portfolio comprises 450,000 square feet and is valued at $100 million.
Voit Asset Services executive managing director John Strockis said that the firm was retained based on its expertise as a real estate operator: specifically, developing, owning and managing comparable projects. He added that Voit plans to engage in an orchestrated disposition strategy to reposition the properties and reintroduce them into the marketplace.
“Our charter is clear,” Voit Executive Managing Director of Asset Services John Strockis said when announcing that the firm had been named asset manager on a $150 million, 12-asset portfolio in the Sacramento area last month. “Create value back into the assets using our experience as real estate operators while minimizing risk to our client.”
Voit has owned, developed and managed more than 45 million square feet of commercial real estate, participated in $1.3 billion in construction projects and completed more than $32 billion in brokerage transaction volume throughout its lifetime.