The other core business of U.S. Development Group involves the day to day management of properties. Typically the assets that we manage are ones where we have been involved in the original purchase of the property for our investor clients. Our goal is to define a plan under which the value of the asset is enhanced through a consistent program of property improvements and maximizing rents.
USDG utilizes Yardi software for accounting and financial management. In addition, we have developed our own cash management system that permits both our staff and our owners the ability to examine key financial indicators on a weekly basis. This enables us to identify any key issues on a timely basis so that appropriate action can be taken.
Wilshire Bundy Plaza
This is a 300,000 square foot, class A office building located in the Brentwood area of Los Angeles. It is managed for a group of local investors. Our responsibilities include all facets of daily operations from security to maintenance, plus leasing, tenant improvements and debt financing. As a result of our efforts, this property has been awarded “Building of the Year” honors by the Los Angeles Chapter of BOMA twice in this decade.
Roxsan Medical Building
This ten story medical office building is located in the golden triangle of Beverly Hills. It is a multi-tenant building with twenty-four doctors and surgical suites. The USDG responsibilities have included all aspects of leasing and daily property management.
Westwood Plaza
Located in the Westwood area of Los Angeles, this 40,000 square foot office building was fully renovated two years ago, including placing a new exterior skin on the building. From that point forward it has been successfully released at higher rents and managed on a day to day basis.
9920 La Cienega
Located at the entrance to the Los Angeles International Airport, this fourteen story office building is a signature structure. Containing 223,000 square feet of class B space, this building is currently being repositioned to attract large floor plate users as opposed to smaller tenancies which have historically been in place.
Angeleno Hotel
Located in the Brentwood section of Los Angeles, this property is a 200 room luxury hotel that has recently been totally remodeled. We have served as the asset manager and financial administrator for the project.
LA Marriott
Hotel
This is a 469 room hotel in downtown Los Angeles for which USDG has served as the asset manager. In this role, we did pre- development planning which determined that the property could support and obtain approvals for an additional 500,000 square feet of improvements.
Ground Lease Portfolio
The principals of USDG have served as the asset manager for a portfolio of ground leases that include over 1,000,000 square feet of office, retail and industrial assets in the greater Los Angeles area. The primary responsibility involved financial administration.
Burton Way Apartments
Located in Beverly Hills, California, this 128 unit apartment project was acquired by a USDG partner for conversion to condominiums.