February 11 2016
Young analysts are a new breed of Allegiancy employee
Richmond, Va., Feb. 10, 2016 — Allegiancy continues its hiring spree in the midst of its $30 million new Reg A+ initial public offering with the recent addition of three analysts from the millennial workforce.
While millennials have become the largest generation in the workforce, the statistic comes with a caveat: More than half of hiring managers say it’s difficult to find and retain millennials.
Not so at Allegiancy, where the firm has found its groove in hiring millennials as analysts. The Allegiancy model is seeking young workers who possess motivation, desire, critical thinking skills and abilities that include communicating, writing and public speaking.
As a company on a steep growth curve in the midst of a $30 million new Reg A+ initial public offering, Allegiancy’s employee numbers have tripled in the past year. That means workers are being haired in a variety of positions, including analysts.
Often these analysts are college graduates with a broad liberal arts education who didn’t pursue a specific course of study. Three recent hires who fit this profile include Lucas Crocker, James Sneed and Gray Bryant. Crocker and Bryant are graduates of Hampden-Sydney College in Farmville, Va., while Sneed graduated from Waynesburg University in Pennsylvania.
Their jobs as analysts entail analyzing the small things that occur on a property such as renewal rates, the cost of running HVAC, or the minimal energy usage of a building. The analysts then feed information to asset managers, who in turn make informed tactical and strategic decisions that enhance the value of Allegiancy’s portfolio for investors and building owners.
Allegiancy analysts are expected to work hard and be thorough. The training is multi-layered.
Crocker describes the Building Owners and Managers Institute International online courses and shadowing, for example, as learning through books followed by an immediate practical application.
“We’ll read a chapter on leasing and then we’ll go work with the leasing team,” Crocker said.
Sneed took several real estate courses in college in Pennsylvania and his father works for a major commercial real estate firm, so he had some general familiarity with the industry.
“I like that you have to go through each department and they teach you what they do and how they do it,” Sneed said.
The analysts describe a system-based training platform in which one day they may shadow a property manager who teaches them everything about that aspect of the business, while the next day they will be working with the accounting department.
As part of the thoroughness of their work, they read leases. Maybe that sounds obvious, but Allegiancy executives say it’s surprising how often firms fail to do even the simplest of tasks — like reading the lease — on behalf of their clients.
Leases allow them to get to know tenants through personal interviews, with each of them overseeing their own portfolio of assets that stretch from Pennsylvania to Florida.
Bryant says he learns a ton every day. Formerly working in a bank’s accounting department, he likes the hands-on aspect of working with Allegiancy.
“They are so much more hands-on than what you get in school,” Bryant said. “You learn something and the next day you’re putting it to use. It feels like you’re having a real impact. It feels like you’re doing something that makes a real difference.”
Crocker describes a work environment that’s demanding, but fun. Training includes conveying a strategic decision-making process that goes into managing each process that centers around no detail being too small or seemingly inconsequential.
“It’s the small things no one else talks about that make a difference here,” Crocker said.
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.
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