The Madison Real Estate Group: June 2013

Sunday, June 2, 2013

The Madison Real Estate Group expands into hospitality management with the acquisition of several prominent Arizona motels

Posted on April 25, 2013 at 07:37 AM EDT

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Madison recently announced that it has been awarded the assignment of three prominent motels in Bullhead City, Arizona-The Highland Motel, The Colorado River Resort and the River Front Resort.

With this assignment, Madison also announces the addition of two corporate employees, Amenita Smith, Vice President of Hospitality Management, and Suzy Rodriguez, Vice President of Operations, as well as the on-site employees.

Both executives joining Madison Commercial Properties were promoted from property management positions in the Madison portfolio. Armenita Smith will head up the Hospitality operations division at Madison, providing support and direction to the newly expanded division of Madison's management portfolio.

"With the acquisition of The Highland Motel, The Colorado River Resort and The River Front Resort, we are excited to launch a new line of services to Madison clients and are committed to providing quality long term management in the hospitality field," said Armenita. Armenita will integrate a recruiting, training and labor management program at the Motels in addition to setting up a standard for cost control.

"The expansion into Hospitality Management fits perfectly into Madison's overall operational goals and complements our existing portfolio," said Jacqueline Kimaz, Vice President of Madison. "With 50 years of collective experience in various aspects of commercial real estate, we feel this is a logical growth strategy in taking Madison to the next level."

About Madison Commercial Properties
The Madison Real Estate Group is an entrepreneurial and experienced full service multifamily and commercial real estate company specializing in receivership, property management, tenant placement and brokerage, and serves as a trusted advisor to financial institutions and private investors. We have built our reputation by offering innovative solutions to our clients property management needs, adding value to their portfolio, and consistently exceeding their expectations for service and performance. For more information about The Madison Real Estate Group, visit http://www.madisonreg.com or email Joe at Jkimaz(at)madisonreg.com.

Read the full story at http://www.prweb.com/releases/2013/4/prweb10669861.htm

The Madison Real Estate Group has been awarded the property management of four multifamily projects in North Hollywood

By: PRWeb

Posted on April 18, 2013 at 06:32 AM EDT

PRWeb

One of the top regional commercial property management firms on the west coast, The Madison Real Estate Group, has been granted the property management of the housing projects by the Los Angeles Superior Court. One of the company's founding partners, Jacqueline Kimaz, has been appointed as receiver by the Court to manage four multifamily apartment complexes in North Hollywood, California. Located in a highly desirable area, the properties face significant competition in a market that has a vacancy factor in excess of 15%. The Madison Real Estate Group has been retained to take over the management of the properties and to collect rents, pay operating expenses, correct any health and safety issues and handle leasing.

As a court appointed receiver, Jacqueline Kimaz works with the seasoned professionals at The Madison Real Estate Group to preserve the value of the assets under her appointment. The Madison Real Estate Group has developed a comprehensive property management plan that offers the transparency both the ownership and lenders need to enable them to make informed decisions.

"The founders of Madison have a long standing relationship working with financial institutions providing real estate expertise in stabilizing distressed properties and take a proactive approach to limiting their liability exposure," said Joe Kimaz, President of The Madison Real Estate Group. "This assignment is just another testament of the trust lenders have in The Madison Real Estate Group and the team of professionals working for us."

With the addition of these assignments to Madison's portfolio, Madison continues to expand its Southern California Portfolio of managed commercial properties. The Madison Real Estate Group specializes in brokerage, receivership, commercial property management, self-storage properties, office buildings, industrial parks, retail centers, leasing/tenant placement and RV Resort/mobile homeparks.

About The Madison Real Estate Group
The Madison Real Estate Group is an entrepreneurial and experienced full service multifamily and commercial real estate company specializing in receivership, property management, tenant placement and brokerage, and serves as a trusted advisor to financial institutions and private investors. We have built our reputation by offering innovative solutions to our clients property management needs, adding value to their portfolio, and consistently exceeding their expectations for service and performance. For more information about The Madison Real Estate Group, visit http://www.madisonreg.com or email Joe at Jkimaz(at)madisonreg.com.

Read the full story at http://www.prweb.com/releases/2013/4/prweb10645212.htm

The Madison Real Estate Group expands into Central California

By: PRWeb

Posted on April 04, 2013 at 07:07 AM EDT

PRWeb

Madison recently announced the expansion of their property management, leasing, tenant placement and brokerage services in Fresno and the surrounding cities. Originally expanding into Central California to service the brokerage needs of their clients, Madison found it necessary to expanded its service base to include management, leasing and tenant placement in order to facilitate their client's needs.

In just two short years, Madison has transcended itself into the commercial brokerage community and is currently managing multifamily and commercial properties, performs single family home leasing and tenant placement. With portfolio managers and agents that act as a satellite to Madison's headquarters in Los Angeles, Madison has established a business plan to support additional growth in Fresno and surrounding cities.

"We are excited to introduce the Madison brand in Central California and are committed to servicing the needs of our clients with the highest standard of excellence and integrity," said Jacqueline Kimaz, Vice President of Madison. "Our goal is to continue growing our brokerage and property management division, while maintaining a high level of service to our client base."
Currently, Madison is working with third parties providing property management services to multifamily and commercial assets, leasing and tenant placement in Fresno, Bakersfield, Stockton, Porterville, San Luis Obispo, Paso Robles, Lemoore, Clearlake, Truckee and Grass Valley.

"We are excite to be creating new jobs and continue to aggressively recruit top performers who are creative thinkers and want to be a part of building something new," said Laura Nargi, Office Manager for Madison. "We're developing a team of commercial real estate professionals who know their markets and will further differentiate us from our competitors."

Read the full story at http://www.prweb.com/releases/2013/4/prweb10599899.htm

The Madison Real Estate Group has been awarded the property management assignment for two properties in the San Fernando Valley

By: PRWeb

Posted on April 11, 2013 at 06:49 AM EDT

PRWeb

The Madison Real Estate Group, a full-service commercial real estate and management firm, has assumed the management of two multifamily properties in the San Fernando Valley.

SMK Properties awarded The Madison Real Estate Group the property management contract on Tiara Street Properties, a newly remodeled multifamily apartment complex in Sherman Oaks.

"We would recommend The Madison Real Estate Group to owners or management companies," said a managing partner of 14142 Tiara Street Properties.

Portico Woodman awarded The Madison Real Estate Group the property management contract on Portico Woodman Apartments, a multifamily apartment complex located in Van Nuys within close proximity to the Sherman Oaks Fashion Square.

"They're responsive (especially during a crisis), pro-active and easy to get a hold of. They've earned my respect and have become my rock in managing my investment - I couldn't imagine owning the buildings without them and will eagerly engage the Madison Real Estate Group on future properties that I intend to acquire," said Ethan B., managing member of Portico Woodman.

With the addition of these assignments Madison continues to expand its Southern California Portfolio of managed commercial properties. The Madison Real Estate Group specializes in brokerage, receivership, commercial property management, self-storage properties, office buildings, industrial parks, retail centers, leasing/tenant placement and RV Resort/mobile home parks.

Madison is proud to offer its clients an executive team that has experience dating back to the late 1980's, which includes experienced asset, property and facility managers, as well as a licensed real estate broker and construction contractor.

"Madison treats each assignment as if it were their own and will work with the ownership of both multifamily projects to develop a management specific plan to meet their investment goals," said Jacqueline Kimaz, Vice President of The Madison Real Estate Group

Read the full story at http://www.prweb.com/releases/2013/4/prweb10599893.htm

The Madison Real Estate Group expands into Northern California

By: PRWeb

Posted on March 29, 2013 at 07:02 AM EDT

PRWeb

The Madison Real Estate Group announces the continued expansion of their receivership, property management, leasing and brokerage services in San Francisco and the surrounding cities as a response to the ongoing market weakness and a growing inventory of foreclosed properties.

Madison has a legacy of providing specialized investment solutions to institutional and private investors. Currently working with third parties providing brokerage, property management and leasing/tenant placement services in Chico, Chilcoot, Lake Shasta, Oakland, Redding, San Jose, Sunnyvale, Santa Clara, Santa Rosa, Petaluma, Clearlake, Truckee, and Grass Valley, Madison intends to enhance its ability to serve these markets while expanding its reach.

In conjunction with the announcement, Madison also announces the appointment of Iraida Angarita, a tenured and highly respected industry professional, as Regional Property Supervisor. Iraida will partner with our established property management team to further enhance the overall leadership, strategic focus and profitability to our clients. "Iraida's experience and expertise allows us to bring value to our current clients and the ability to expand our management services to investors looking for a firm with local experience," said Jacqueline Kimaz, Vice President of Madison.

The newly expanded portfolio represents a diversified mix of multifamily, office, retail and single family homes. Madison takes a collaborative, long term approach with all its clients in finding solutions that meet their goals and objectives.

About The Madison Real Estate Group
The Madison Real Estate Group is an entrepreneurial and experienced full service multifamily and commercial real estate company specializing in receivership, property management, tenant placement and brokerage, and serves as a trusted adviser to financial institutions and private investors. We have built our reputation by offering innovative solutions to our clients property management needs, adding value to their portfolio, and consistently exceeding their expectations for service and performance. For more information about The Madison Real Estate Group, visit http://www.madisonreg.com or email Joe at Jkimaz(at)madisonreg(dot)com.

Read the full story at http://www.prweb.com/releases/2013/3/prweb10583384.htm

The Madison Real Estate Group gives back to the community by working with the homeless in Los Angeles County

By: PRWeb

Posted on March 22, 2013 at 06:43 AM EDT

PRWeb

The Madison Real Estate Group, a full-service property management company serving SouthernCalifornia and Las Vegas has teamed up with Angel on My Shoulder to feed and clothe the homeless on skid row by providing sleeping bags and food to feed more than 300 people.

The Madison Real Estate Group have worked consistently for over 10 years to help the less fortunate by bringing awareness of the Los Angeles' homeless population to, friends and colleagues by working with a group of volunteers in an effort to serve those less fortunate in the community.

Madison expects to build on the success each year through community support and predicts the annual trip to Skid Row will continue to grow expeditiously. What started out as a clothing and lunch distribution for approximately 50 has grown into an opportunity to provide not only clothing, and food but basic needs such as toothbrushes, toothpaste, warm socks, shoes, first aid kits, sleeping bags, rain ponchos, and more, for more than 300 homeless families with young children.

The Madison Real Estate Group is proud to provide for the homeless in hopes to increase the number of street feedings that happen annually by increasing awareness and encouraging others to donate and volunteer. "We are committed to doing our part to make a difference in the community we service," said Jacqueline Kimaz, Vice President of the Madison Real Estate Group. "I am very pleased with the results that Madison has helped contributed in. I look forward to continuing our efforts surrounding this critical issue in the future."

The growing needs of the homeless are obvious, but a channel for volunteers to direct their efforts is also needed. By extending their involvement through The Madison Real Estate Group, they have already inspired many of their employees to get involved and have given them a focus for their desire to serve others.

Read the full story at http://www.prweb.com/releases/2013/3/prweb10557902.htm

The Madison Real Estate Group has Been Granted the Property Management Contract for The Villa Bonita

By: PRWeb

Posted on March 14, 2013 at 07:30 AM EDT

PRWeb

The Madison Real Estate Group, one of the top regional commercial property management firms on the west coast, was awarded the property management assignment of The Villa Bonita in Hollywood, California. The vintage 1920's building is listed as an historic apartment building and is located in the heart of Hollywood.

DHA Villa Bonita, LLC, awarded Madison the assignment due to the firm's considerable expertise in managing similar assets and in proving a high level of service. "The goal at Madison is to work closely with the ownership to understand their goals and objectives and then execute a management plan designed to achieve results," said Jacqueline Kimaz, Vice President of The Madison Real Estate Group. "Madison is proud to partner with DHA Villa Bonita, LLC and are excited about the continued expansion of our management portfolio in the Los Angeles market."

With the addition of this assignment, Madison continues to expand its Southern California Portfolio of managed commercial properties. The Madison Real Estate Group specializes in brokerage, commercial property management, self-storage properties, office buildings, industrial parks, retail centers, leasing/tenant placement and RV Resort/mobile home parks.

Constructed in the 1920's and acquired by DHA Villa Bonita, LLC, the Villa Bonita is an historic apartment building is complete with vintage fixtures, vintage tile, gothic chandeliers and scones, located on Hillcrest Road in Hollywood, California. The building is located in the heart of the Hollywood Hills, just a short walk from Hollywood Boulevard and Highland Avenue. It was designed by Frank Webster and was added to the National Register of Historic Places in 1986 based on its architecture.

"As a real estate investor, I want the benefit of residual income without having to live through a trial-by-fire education in property management. The Madison Real Estate Group has taken a hands-on approach to managing my investment, keeping me informed, reducing my overall exposure to liability and created a tenant retention program that has help stabilize my investment and increase my overall return." - Owner, DHA Villa Bonita

Read the full story at http://www.prweb.com/releases/2013/3/prweb10500606.htm

The Madison Real Estate Group Announces Major Expansion of Property Management Operations

The Madison Real Estate Group Announces Major Expansion of Property Management Operations:

By: PRWeb

Posted on March 07, 2013 at 07:12 AM EST

PRWeb

The Madison Real Estate Group has been retained to manage Vulcan Street Storage, a 373 unit self-storage facility in beautiful Lompoc, California and adds key employees to its management team.

"This assignment represents an excellent allocation of Madison's resources. We expect to quickly realize a financial benefit to Vulcan given the quality of talent added to our team along with the operational improvements and behind the scenes support of our corporate office in Los Angeles," said Keren Shiu, Controller for Madison.

The full-service property management company serving Arizona, California and Nevada, The Madison Real Estate Group, intends to expand on the new line of business and has added Directed Capital Resources to its client list. Directed Capital Resources identifies commercial mortgage acquisition opportunities in which a material increase in value can be realized through debt restructuring techniques and sound management and servicing procedures.

"Madison is thrilled to combine our hands on management approach to self-storage management with the addition of experienced on-site employees that will focus on marketing and operational improvements. We confident that the combination will help differentiate Madison from competition and drive new business," said Jacqueline Kimaz, Vice President for Madison.
Vulcan Street Storage is strategically located within close proximity to Vanderburgh Air Force Base. This new acquisition of storage units complements Madison's portfolio consisting of office, retail, and multifamily properties and will include facilities management.

Read the full story at http://www.prweb.com/releases/2013/3/prweb10496908.htm

Rent Escrow Program (REAP) Compliance Nightmare

By: PRWeb

Posted on May 24, 2012 at 06:49 AM EDT

PRWeb

The Madison Real Estate Group, a leader in multifamily and REO property management, was awarded the management of an eight unit Los Angeles REO property. At the time of takeover the property had been placed in the Los Angeles Rent Escrow Program (REAP).

Once a property is in REAP, it takes knowledge and expertise to get out -and even that does not guarantee full recovery of expected income. Trying to navigate those waters alone can leave an inexperienced owner drowning in paperwork, and failing profits. With this latest L.A. property, Madison Real Estate Group filed the necessary paperwork to clear the violations and obtain a refund for their client in excess of $20,000.

In the past few years, the number of REO properties has reached an all-time high, in what some are calling an unprecedented pace. With the number of REO properties hitting the market it is essential the right management company is retained. Once a property is in REAP, even those owners who immediately attend to the complaints have a lot of work ahead of them just to recover even the reduced rent if the tenant has chosen to pay the money into the escrow account set up by the city.

The Los Angeles REO property market has been plagued with problems from squatters to vandalism and multifamily property units are being placed into REAP at an alarming rate. For landlords and property owners who have fallen behind in their maintenance and repairs, the city of Los Angeles REAP can wreak havoc on their revenue and collectibles, and bury them in a landslide of paperwork. This, in addition to a complex bureaucratic structure, makes REO takeovers a logistical nightmare for firms or previous property owners that are inexperienced with it, which is where the Madison Real Estate Group can help.

As explained by an experienced member of the Madison Group, "the affected tenants are immediately given a rent reduction, usually somewhere between 10% up to 50% range, and it isn't unheard of to see a reduction in the upward range of 80 to 90%, depending on the severity of the violations. This is lost rent to the property owner and is non-recoverable. A notice of REAP is recorded and filed against the property's title with the County Recorder's Office. If this is not resolved, this recording may restrict the refinancing or sale of the property."

Immediately upon taking over the property, Madison's team of REO professionals took all the necessary steps needed to ensure their client's interest was being protected. Madison has systems in place when an REO property is placed under management, allowing them to act quickly and aggressively ensuring residents are protected and the value of the asset is being preserved.

About The Madison Real Estate Group
The Madison Real Estate Group is an entrepreneurial and experienced full service multifamily and commercial real estate company that serves as a trusted advisor to financial institutions and private investors. They have a successful track record working with city officials in getting the properties under their stewardship removed from the REAP program and recovering funds owed to their clients. They have built their reputation by offering innovative solutions to their clients property management needs, adding value to their portfolios, and consistently exceeding their expectations for service and performance.

Read the full story athttp://www.prweb.com/releases/Madison_Real_Estate_Group/REO_property_management/prweb9539065.htm