Did You Hear? Reserve Capital Hires Property Management Expert

image.jpg

As Reserve Capital Partners continued to add office and industrial properties, it knew it would need to hire an experienced property management executive to oversee its growing portfolio.

The Dallas-based real estate investment firm found that person in Jacqueline Byrd, a 25-year industry veteran who spent a dozen years as vice president and regional director of property management at multinational real estate investment trust DCT Industrial, which Prologis acquired in August. 

Byrd said she looks to grow Reserve Capital’s property management team in anticipation of the firm’s increased acquisition activity, which generally focuses on assets ranging from $20 million to $100 million. Reserve Capital Partners Fund I, the firm’s private equity fund, is expected to have up to $300 million in assets when it’s completely deployed – and providing quality property management to new tenants will be vital, said Byrd. “There’s no substitute for customer service and relations.”

Reserve Capital partner Clint Riley said the firm had sought someone to oversee property management for about a year. Previously, the firm had used a hybrid system of a third-party management provider with some internal team members. Having Byrd lead a fully in-house property management team will ensure consistent, high-quality services to Reserve’s tenants, Riley said. 

Retaining tenants is critical, he said, because the cost of replacing them is high, especially as tenant improvement costs increase. “We work to be long-term partners with our clients,” Riley said. “The real estate doesn’t work without tenants.”

Did you know?  Byrd loves to travel the world with her immediate and extended family. Last year, the entire group traveled to South Africa. Early next year, they’ll head to Egypt. Even while relaxing in Egypt, Byrd said she won’t be able to help but assess the level of management at the places and properties they visit.

View Full CoStar Article Here >

Reserve Capital Partners Adds Managing Director of Property Management to Growing Company

JacquelineByrdWEB.jpg

Reserve Capital Partners (RCP), a Dallas-based commercial real estate investment firm focused on industrial and office assets, announces today the appointment of Jacqueline Byrd as Managing Director of Property Management. Byrd brings 25+ years of real estate industry experience spanning office, industrial, medical, retail and residential markets.

Prior to joining Reserve Capital Partners, Byrd served as vice president of Property Management for DCT Industrial Trust for seven years. She also held leadership positions with Grubb & Ellis Management Services and Prentiss Properties Trust.

“I am thrilled to be a part of a thriving company like Reserve Capital Partners. I was eager to join RCP after getting to know the partners, their backgrounds and seeing what we have the ability to accomplish,” said Byrd. “I believe we have expertise that will put us among the major players in the real estate industry, and I am excited to establish our property management platform.”

As Reserve Capital Partners continues to grow its portfolio, Byrd will compile a team of property managers and experienced real estate professionals, and will oversee, guide and direct its property management operations.

“Jacqueline is already such a valued member of the RCP team,” said Brant Landry, partner for Reserve Capital Partners. “Her experience is highly valued in such a competitive real estate market like we have in Texas.”

View Full Business Wire Article Here >

Deals Day: Dallas real estate equity fund makes third purchase in 6 months

Reserve Capital Partners’ newest acquisition is an office property on a corner “surrounded by decision makers.”

The Dallas real estate equity fund announced this week it purchased Denari Office Park, made up of three buildings at 15150, 6009 and 6029 Preston Road, for an undisclosed price. The 111,286-square-foot complex is 70 percent leased with 20 tenants.

“The building appeals to a smaller tenant market,” said Greg Seitz, a partner with Reserve. “The reason we like the location is the surrounding demographic of decision makers around the building, and that’s who’s historically been in the building.”

Preston Grove, formerly Denari Office Park, includes three buildings spanning 111,286 square feet.    |    RESERVE CAPITAL PARTNERS

Preston Grove, formerly Denari Office Park, includes three buildings spanning 111,286 square feet.    |    RESERVE CAPITAL PARTNERS

The transaction is Reserve’s third in the last six months. It also owns Hidden Grove, a Dallas office park with tenants like Pollo Campero and Studio Movie Grill, as well as the GE Transportation Building in Melbourne, Florida.

Reserve is rebranding its newest holding as Preston Grove, and has hired Holt Lunsford to help lease the property’s remaining space, catering to small businesses and medical offices.

“We should offer a good value attraction for the location and B-plus offices in that location,” added Clint Riley, a partner with Reserve.

Southlake’s Trinity Private Equity Group partnered with Reserve to acquire the property and worked with the firm to purchase Hidden Grove. Ron Hebert, first vice president of investment with Marcus & Millichap represented the owner in the Preston Grove transaction.

View Full Dallas Business Journal Article