DP Partners Expands Into Property Management
2009-06-05
RENO, NV - In May, Reno, NV-based DP Partners continues to expand its services to include property management, announced Par Tolles, President of DP Partners, a member of Dermody Properties. The company will not only manage its own growing national portfolio but will use its expertise to add value to third-party contracts.
"What is key in property management is to be in a position to enhance the asset value through efficient and cost effective maintenance of the physical property and to respect and care for the needs of the tenants," said Tolles. "This is a natural for DP, the partners have built this company on almost 50 years of unparalleled service, which is the cornerstone of the organization. It is a mission that we not only follow in our development practice but in the everyday 24 our service that property management requires."
As recent as 2007, DP Partners had a property management department that was responsible to maintain its own assets of over 25,000,000 square feet. As a result, it has the internal accounting infrastructure and capabilities to accommodate all accounting systems along with a clear understanding of the comprehensive reporting requirements that must be carefully tailored to support each specific contract. "DP is simply going back to its roots of being a great service provider to its clients and this time extending that to owners outside our company." said Tolles.
DP Partners has hired, Elizabeth Teske, CPM to lead its property management division. Teske, previously with CB Richard Ellis, brings with her 20 years of experience including management of over 15 million square feet, oversight of 3.5 million square feet of ground-up development, and assistance with over eight million square feet of transitions and construction management services for $48 million in tenant and capital improvements. With CB Richard Ellis as Director for Asset Services in both Reno and Sacramento, Teske was responsible for overseeing service delivery for office, retail and industrial real estate properties. She has worked with institutional investors, realty/pension fund advisors, private ownership entities and several Fortune 500 Tenants. As a testament to her achievements in the industry, Teske earned the Property Manager of the Year Award in both 2007 and most recently in 2008. "Elizabeth is the most respected and sought after Director of Property Management in the state," said Tolles. "She will be the cornerstone of this division and the catalyst for its success."
"What is key in property management is to be in a position to enhance the asset value through efficient and cost effective maintenance of the physical property and to respect and care for the needs of the tenants," said Tolles. "This is a natural for DP, the partners have built this company on almost 50 years of unparalleled service, which is the cornerstone of the organization. It is a mission that we not only follow in our development practice but in the everyday 24 our service that property management requires."
As recent as 2007, DP Partners had a property management department that was responsible to maintain its own assets of over 25,000,000 square feet. As a result, it has the internal accounting infrastructure and capabilities to accommodate all accounting systems along with a clear understanding of the comprehensive reporting requirements that must be carefully tailored to support each specific contract. "DP is simply going back to its roots of being a great service provider to its clients and this time extending that to owners outside our company." said Tolles.
DP Partners has hired, Elizabeth Teske, CPM to lead its property management division. Teske, previously with CB Richard Ellis, brings with her 20 years of experience including management of over 15 million square feet, oversight of 3.5 million square feet of ground-up development, and assistance with over eight million square feet of transitions and construction management services for $48 million in tenant and capital improvements. With CB Richard Ellis as Director for Asset Services in both Reno and Sacramento, Teske was responsible for overseeing service delivery for office, retail and industrial real estate properties. She has worked with institutional investors, realty/pension fund advisors, private ownership entities and several Fortune 500 Tenants. As a testament to her achievements in the industry, Teske earned the Property Manager of the Year Award in both 2007 and most recently in 2008. "Elizabeth is the most respected and sought after Director of Property Management in the state," said Tolles. "She will be the cornerstone of this division and the catalyst for its success."
"What is exciting about this opportunity for me is that there is no learning curve, between my extensive knowledge in property management and DP's relationships and reputation, we will hit the ground running and soon be a highly-regarded competitor not only in Nevada, but in other regions of the country such as Portland, Harrisburg and Chicago," said Teske. "This division is immediately positioned to provide unique expertise in every aspect of commercial real estate management."
For more information, please visit www.dermody.com or contact Elizabeth Teske, at 775-858-8080 or eteske@dermody.com.
For more information, please visit www.dermody.com or contact Elizabeth Teske, at 775-858-8080 or eteske@dermody.com.