The future of any individual asset, particularly a troubled asset, is closely tied to its operator whose ability to envision, plan and execute can instill vitality into bricks and mortar. Throughout its history Taconic's ability to successfully reposition real estate has been rooted in its deep capacity in these interrelated areas. For more than a decade it has infused an array of diverse properties with new energy that, in turn, has driven financial success. Acquisition & Financing The ability to quickly and accurately analyze complicated financial structures distinguishes Taconic's acquisition and finance teams. Utilizing real estate acumen, creativity and long-term relationships with lenders, agents and sellers, these professionals carefully manage each aspect of the acquisition process including sourcing, underwriting complex financial structures and due diligence. Senior level attention to underwriting, market research, operating expense analysis and coordination of third party consultants adds value to the process and ultimately to the asset.
Asset Management Taconic's asset management team is focused on maximizing the value of each investment. Working closely with its property management, leasing and development teams, these professionals ensure each asset is operating in accordance with its annual business plan. Taconic's hands-on approach strives for high level asset performance relative to the marketplace and submarket, effectively realizing the full potential of each investment.
The market insights gained as an owner/sponsor/operator enable Taconic to craft leasing strategies that address challenging circumstances and enhance long-term value. The leasing team continuously cultivates successful tenant relationships, increasing retention rates and works to ensure that all space achieves or exceeds current market terms while managing the need to reinvest capital. The team actively maintains strong relationships with all major brokerage firms so that all appropriate prospects are presented to Taconic properties. Senior executives are directly involved in every lease, responding to market conditions, setting asking rents and negotiating lease terms, commission agreements and construction costs. This attention to detail maximizes the long-term benefit of each lease and positively contributes to the bottom line of every property.
Taconic Management Company, a wholly owned subsidiary, is devoted exclusively to the Taconic portfolio. Over 33 property management professionals work in conjunction with asset managers to ensure each property is operating in the most efficient and cost-effective manner. Quick responses, thoughtful decisions and attention to detail, along with durable working relationships with tenants, vendors and local authorities have garnered a best-in-class reputation, making Taconic buildings sought-after locations and adding value to every property.
Development & Construction Management
Taconic has a proven track record of effectively identifying ground-up development, redevelopment and adaptive re-use opportunities. The construction management team successfully implements each of these strategies by closely managing and monitoring day-to-day and long-term progress including construction cost budgeting, value engineering, coordinating construction-related activity and supervising general and sub-contractors.