March 15 2016
ALLEGIANCY SELECTED AS ASSET MANAGER FOR CHARLESTON, S.C., CLASS B OFFICE BUILDING
Richmond, Va., March 15, 2016 — Allegiancy has been awarded the asset management contract for Ashley Corporate Center, a Class B office building in the North Charleston submarket of Charleston, S.C.
Ashley Corporate Center comprises 54,085 square feet and is at the front of the executive office park Faber Place, with easy access to Interstate 526. The building is 76 percent leased and the owner of the building has plans to upgrade the lobbies, restrooms and roof.
Allegiancy, based in Richmond, Va., is a commercial real estate asset management firm that prides itself on its active approach to asset management.
“Earning the contract to be the asset management firm for Ashley Corporate Center is exciting for us and we’re encouraged by the direction the owners are taking this building,” said Allegiancy President Chris Sadler. “Ashley Corporate Center has been a great value for owners and tenants alike and our expectation is that with the planned upgrades we’ll see even better value and performance.”
Ashley Corporate Center has ample parking and is less than 10 minutes from Charleston International Airport.
“We really like the Charleston market,” Sadler said. “It’s a solid secondary market with a dependable, diversified economy with robust job growth, great accessibility with the airport and port and a strong quality of life. We’re pleased to have a continuing presence in Charleston.”
Allegiancy is an aggressive, forward leaning firm with an eye on rapid growth and expansion. The firm just launched a $30 million “mini-IPO” under new Reg A+ rules approved last year by the Securities and Exchange Commission.
With proceeds from the $30 million capital raise, Allegiancy anticipates investing in its proprietary technology platform, making new contract acquisitions and growing its operations organically, as well as adding new employees to support its triple-digit growth.
Allegiancy is changing the business of asset management for commercial real estate owners and investors with radical specialization. With a technology-enabled operating platform and singular focus on serving as the owners’ advocate, the company brings fresh vigor and unparalleled discipline to a poorly understood business. Combining its proactive Value Assurance operational rigor with an intense focus on cash flow and profitability, Allegiancy is leveraging the experience of its principals of more than four decades of success.
PLEASE NOTE: No money or other consideration is being solicited pursuant to this press release, and if any is sent in response, it will not be accepted. No offer to buy Allegiancy’s securities and no part of the purchase price for Allegiancy’s securities can be received until the offering statement Allegiancy has filed with the SEC is qualified, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. Any indication of interest in Allegiancy or its offering involved no obligation or commitment of any kind. A copy of Allegiancy’s offering statement containing its most current preliminary offering circular describing the offering that is the subject of this press release can be found at: [allegiancyipo.com]
March 07 2017