June 12, 2015— Newmark Grubb Knight Frank’s (NGKF) property management team in Detroit has been awarded the exclusive assignment to manage the United Jewish Foundation of Metropolitan Detroit’s (UJF) real estate portfolio. The portfolio consists of 41 different sites with more than 300 buildings totaling 2,234,147 square feet.
UJF, which serves as the fiduciary arm of the Jewish Federation of Metropolitan Detroit, previously managed all of the portfolio’s sites in-house. With a desire to improve the quality of management and services, UJF decided to consolidate that service under a third-party provider who specializes in management operations and maintenance services. After an extensive Request for Proposal (RFP) and search process, UJF awarded the exclusive property management assignment to NGKF.
“We had a number of outstanding companies bidding on this work,” says UJF President Benjamin Rosenthal. “Our UJF Real Estate Committee is comprised of a number of very knowledgeable and seasoned real estate professionals from the community. Due to NGKF’s size, extensive experience and proven expertise managing a wide variety of properties, we ultimately decided that they were the right choice.”
The UJF portfolio spans from the Upper Peninsula in Michigan to Detroit. The buildings have a myriad of different uses including schools, multi-family apartments, office buildings, community centers and camps, to name a few.
“We are excited to be working with UJF on this assignment. It’s always great partnering with any new client, but the engagement of a two- million-square-foot portfolio for a client who serves the community in so many ways is an absolute honor,” said Frederick Liesveld, managing director in NGKF’s Detroit office. “Our property management team is well-equipped to successfully and skillfully manage a portfolio of this size.”
NGKF will begin managing the portfolio in phases; Phase 1 began on June 1, 2015.
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