Onyx Equities Increases REO/Receivership Management Portfolio by 2.9 Million SF
‘Three Ts’ Approach Delivers on Promise of Client Satisfaction and Drives Explosive Growth
Woodbridge, N.J., (Dec. 3, 2015) –Onyx Equities, LLC (“Onyx”) has once again reported steady growth in its portfolio of real estate owned (REO) and receivership properties. During the second half of 2014 and the first half of 2015, the company assumed management of more than 2.9 million square feet of office, retail, and industrial space.
Overall, Onyx’s management portfolio grew by 40 percent. This includes the transitioning of more than 60 REO/receivership assignments as well as the acquisition of more than 1 million square feet of properties and loans in New York and New Jersey alone.
Among the largest of the 25 properties that came under Onyx management during the second half of the year are:
- A 348,442-square-foot, three-building, class A office campus in Greenville, South Carolina, which is located along a central artery into downtown and minutes from the largest Interstate highway in the southeastern U.S.
- A 184,000-square-foot, class B office building in Charlotte, North Carolina, adjacent to the Mecklenburg County Courthouse and less than 300 yards from Interstate 277.
- A 148,000-square-foot, 12-story, class A office building in Columbia, South Carolina, located one block from the Statehouse and within walking distance of the University of South Carolina as well as Columbia’s bustling entertainment and restaurant district.
Triggered by this rapid growth in both its portfolio of owned properties and its REO/receivership platform, Onyx hired more than 50 new team members in 2014/2015. These additions enabled the company to expand its roster of holdings and management assignments into six new states, including Delaware, Maryland, Virginia, North Carolina, South Carolina and Georgia.
The company also announced, in recent months, that to meet the needs of its growing portfolio in the Mid-Atlantic and Southeast regions, it has opened four regional offices, including Crofton, Maryland; Charlotte, North Carolina; Atlanta Georgia and Memphis, Tennessee.
Onyx’s impressive success in expanding its portfolio is a result of its track record in finding management efficiencies, quickly responding to tenant needs, filling space vacancies and effectively managing cash flows at each property.
“We are expanding due to our ‘Three Ts’ approach, which emphasizes talent, teamwork and technology,” said Jon Schultz, Co-Founder and Managing Principal, Onyx Equities, LLC. “Our focus is on hiring the most talented people we can, forming effective and responsive teams and using a cutting-edge technology platform to execute at a peak level to ensure that our clients’ assets deliver maximum value.”
About Onyx Equities, LLC
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC is a leading private real estate investment, management and development firm. Since its founding in 2004, Onyx has acquired more than $1.5 billion worth of real estate assets throughout New Jersey, New York, Pennsylvania and Connecticut. The company currently owns, manages or is the appointed Receiver for 35 million square feet of office, retail, industrial, and self-storage properties. The company’s rapidly growing Receivership and REO portfolio has recently expanded into 11 states along the east coast. For more information on Onyx Equities, contact the firm at 732-362-8800, or visit www.onyxequities.com.