Basin Street Properties Announces Strategic Restructure to Position for Future Growth
Basin Street Properties, a leading commercial real estate company specializing in investment, development, and management of office, retail, multifamily, industrial and hospitality assets with over 50 years of success, announced today a major organizational restructure designed to strengthen operational performance, accelerate growth, and enhance service delivery across its portfolio.
Effective immediately, Basin Street Properties will formally divide its operations into two core divisions: Property Management and Asset Management. This strategic restructuring will streamline operations as the company continues to expand its presence in key markets and better positions the company to meet the growing demand for 3rd party asset management.
“Establishing two focused divisions, positions the company to better serve our third-party clients, partners, tenants, and investors while preparing us for substantial long-term growth,” said Matt White, CEO and Chairman of Basin Street Properties. “Our property management team’s tenant centered focus allows us to continually lead our markets in occupancy and tenant retention. We want to extend our successful model to a broader audience through expanded third-party management. This progression builds upon our unwavering commitment to our clients and tenants’ success.”
New Divisions and Leadership:
The Property Management Division will oversee leasing, marketing, property management, tenant relations, construction, and facilities operations, all geared toward maximizing performance at the property level.
The Asset Management Division will concentrate on financial performance, acquisitions, dispositions, development, investor and lender relations, and portfolio management, including the onboarding of new third-party assets.
“This new structure allows us to tailor highly customized management strategies for each client and property,” said Stephanie Burlingame, who will assume the role of President, Property Management Services Division. “It’s an exciting step that deepens our ability to deliver consistent value to both Basin Street sponsored investments and third-party assets.”
“Asset Management is about navigating marketing complexities to build long-term value and minimize risk,” said Scott Stranzl, assuming the role of President, Asset Management Services Division. “This new focus will allow us to be more agile in acquiring, disposing, developing, and managing assets.”
Alongside these structural changes, Blake Riva is retiring after a successful 35-year career, the last seven leading Basin Street. “Blake’s contributions have been instrumental to our growth and stability,” said White. “We thank him deeply for his service and friendship.”
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ABOUT BASIN STREET PROPERTIES:
Basin Street Properties is one of Northern California’s and Northern Nevada’s most prominent operators and owners of commercial real estate. The company owns and manages over 4.3 million square feet of Class A office, industrial, hospitality, multi-family and retail space. Basin Street is widely recognized for its successful office, retail, hospitality, multi-family and mixed-use developments. The company offers a broad range of real estate services, including development, property management, leasing, construction management, financial and asset management, and property acquisition and disposition. For more information, visit basin-street.com.