April 14 2015
Allegiancy CEO Steve Sadler to serve as judge for Launch Gloucester
Gloucester resident brings national business experience, entrepreneurial expertise to local businesses
Gloucester, Va. — Allegiancy CEO and Gloucester resident Steve Sadler will serve as a judge for Launch Gloucester, an innovative community program that will award three entrepreneurs funds to help them start local businesses.
Sadler will be among a panel judging presentations by Gloucester entrepreneurs hoping to launch their businesses on Gloucester’s Main Street later this year.
More than 40 applications were fielded by Launch Gloucester, which whittled the list down to just 15. The final three winners will be selected in May by a panel of judges, including Sadler.
Sadler is the driving force behind the formation and direction of Allegiancy, a Richmond, Va.-based firm specializing in commercial real estate asset management.
“I have been down the trail before of starting a new business,” Sadler said. “I understand the risks and the passion that business owners and entrepreneurs put into their ideas. I also understand the sacrifice – spending time away from families, accepting hard lessons, and investing your own money. I’m honored to be a part of helping these entrepreneurs succeed.”
As Gloucester resident, Sadler already frequents Main Street and the Gloucester Village, and he strongly supports small businesses. He says he believes in the power they have to create jobs and bring back the Virginia economy.
Allegiancy is poised to become a national leader in a new crowdfunding initiative made possible by the U.S. Jumpstart our Business Startups (JOBS) Act. Using the Securities & Exchange Commission’s new Regulation A+ rules, mandated by the JOBS Act, Allegiancy plans to raise $30 million later through public securities offerings this year. Reg A+ boosts the amount a private company can raise from $5 million to $50 million in a year.
“Raising capital, whether in a competition like this or through Reg A+, is a big deal,” Sadler said. “It’s important to make sure your company can put the money raised to work, and that you can demonstrate that ability to prospective investors. In this case, it’s the Launch Gloucester team.”
About Launch Gloucester
Launch Gloucester is a joint effort between government and the private sector to identify and equip entrepreneurs to start niche businesses on Gloucester Village’s Main Street.
The three entrepreneurs selected in May will receive startup capital, marketing services and other assistance in a package valued at $95,000 to help them open their businesses.
Gloucester was one of three communities chosen in Virginia to participate in the Community Business Launch program developed by Virginia Gov. Terry McAuliffe. Gloucester was awarded $100,000 in December as part of that pilot.
In addition to the state funds, Gloucester County provided $15,000 to update a market study of Gloucester Village, and another $85,000 came from other sources.
About Steve Sadler
Prior to founding Allegiancy, Sadler spent nearly 20 years in financial services and the investment banking field. He pursued investment banking projects in commercial real estate while part of Signet Bank’s Capital Markets Group, now Wells Fargo. Sadler has executed public market securities and private placement transactions valued at more than $1 billion.
Sadler was previously the CEO of a financial services technology company that raised more than $10 million in capital from venture capital funds, angel investors, and strategic partners. In addition, Sadler has been involved in a wide range of asset classes and financing structures and has proven commercial real estate performance and significant turnaround experience.
Allegiancy is changing the business of asset management for commercial real estate owners and investors. With an advanced technology platform and singular focus on serving as the owners’ advocate, the company brings fresh vigor to an often poorly understood business. Combining its proactive Value Assurance operational rigor with an intense focus on cash flow and profitability, Allegiancy is expanding on a track record of more than four decades of success.
Headquartered in Richmond, Va., and led by a team of seasoned professionals with more than 100 years of experience, Allegiancy manages properties that have outperformed their peers by 45 percent since 2006. The company has approximately $300 million in assets under management (AUM) and delivers clients attractive returns and profitable, hassle-free investments in commercial real estate. Allegiancy grew by 62 percent last year, largely due to referrals from satisfied clients.
To schedule an interview with Allegiancy’s leadership, contact Audrey Bevel at email@example.com or 866.842.7545 ext. 204, or (804) 201-7161.
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