SANTA ANA, CA - Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, today announced that it has established a strategic alliance with Kettler Inc., one of the Mid-Atlantic's largest real estate and property management firms, to provide residential property management services nationwide.
"We are excited to expand our best-in-class property management services to include the multifamily residential space," said Jack Van Berkel, executive vice president and chief operating officer of Grubb & Ellis and president, Real Estate Services. "Many of our clients have told us that they are looking for a service provider that can provide solutions across all asset types and throughout the lifecycle of their ownership. Kettler's residential property management capabilities combined with Grubb & Ellis' comprehensive real estate services platform will enable us to lease, manage and dispose of all asset classes on behalf of our clients."
Van Berkel added that the alliance will play a significant role in the company's growing Financial Services Asset Management practice, which provides full service integrated solutions, including leasing, receivership, management and disposition to financial institutions and special servicers with distressed assets.
"We are thrilled that this relationship with Grubb & Ellis will allow for Kettler to enter new markets and to provide residential management services on a national level," said Cindy Clare, president of Kettler Management Inc. "We are confident that it will prove to be beneficial to both firms."
The alliance, which will operate as Grubb & Ellis|Kettler Residential Management, will benefit clients by allowing the firms to work together seamlessly when a property owner requires both residential and commercial property management services. In these situations, Grubb & Ellis will coordinate marketing efforts, streamline suppliers and interconnect technology systems, and in markets where Kettler currently does not have a presence, the alliance will provide Kettler an opportunity to expand its residential management portfolio.
At June 30, 2010, Grubb & Ellis and its affiliates managed approximately 300 million square feet of commercial property. Kettler is among the largest private real estate and property management companies based in Washington, D.C. The company currently manages more than 16,000 apartments in 70 communities throughout the Mid-Atlantic and Northeast.
Founded by Robert C. Kettler in 1977, Kettler is among the largest private real estate and property management companies based in the D.C. metro area and one of the nation's top 20 multifamily developers. The firm's diverse business model has led to the delivery of five million square feet of commercial space and over 50,000 homes. Kettler's apartment portfolio includes high-end, market rate, affordable and fee-managed assets. In 2008, Kettler Management was awarded the prestigious "Pillars of the Industry" award in the property management category by the National Association of Homebuilders. Currently, the company is developing transit-oriented mixed-use projects and managing a growing portfolio of third-party assets. For more information, visit www.kettler.com.
Grubb & Ellis Company (NYSE: GBE) is one of the largest and most respected commercial real estate services and investment companies in the world. Our 6,000 professionals in more than 100 company-owned and affiliate offices draw from a unique platform of real estate services, practice groups and investment products to deliver comprehensive, integrated solutions to real estate owners, tenants and investors. The firm's transaction, management, consulting and investment services are supported by highly regarded proprietary market research and extensive local expertise. Through its investment subsidiaries, the company is a leading sponsor of real estate investment programs that provide individuals and institutions the opportunity to invest in a broad range of real estate investment vehicles, including public non-traded real estate investment trusts (REITs), mutual funds and other real estate investment funds.
Source: Grubb & Ellis Company