Onyx Equities’ Jonathan Schultz Joins Commercial Real Estate Finance Council’s Board of Governors
Commercial Real Estate Entrepreneur Co-Chairs
CREFC’s High Yield Distressed Realty Assets Sub-Forum Through June 2016
Woodbridge, N.J., (Oct. 27, 2015) -- Onyx Equities, LLC today announced that co-founder and managing principal Jonathan Schultz has been named co-chair of the High Yield Distressed Realty Assets Sub-Forum for Commercial Real Estate Finance Council (CREFC) through June 2016. With this appointment, Schultz also joins CREFC’s Board of Governors.
The CREFC is a global trade association for the commercial real estate finance industry; members include lenders, investors and servicers. The council acts as a legislative and regulatory advocate for the industry, plays a vital role in setting market standards and provides education for market participants in this key sector of the global economy.
"I’m thrilled to serve CREFC in this leadership capacity,” Schultz said. “This organization is crucial to our industry in terms of providing opportunities for continued learning and knowledge exchange as well as advocating for our broader interests on issues that are paramount to commercial real estate as a driving force in the broader economy."
As the appointed receiver and REO manager for over 150 properties in 11 states, Onyx provides services to banks, loan servicers and financial institutions in need of help managing defaulted real estate assets for all commercial property types, either real estate owned (REO) or in receivership. The company has developed an industry-wide reputation for client satisfaction, tenant retention and improved asset balance sheets through increased operational efficiency.
As many of the assets Onyx owns or manages on behalf of banks or courts are in distress, Schultz brings to the organization an unparalleled wealth knowledge regarding best practices for returning these properties to fiscal health and profitability. Most notable is his “Three Ts” approach that emphasizes technology, teamwork and talent. This approach relies heavily on providing his teams with the right digital platforms, and Schultz has pioneered the use of enterprise management software that integrates data analytics, dashboards and mobile communications. In doing so, he has been able to build peak-performing teams and ultimately optimize the talent within the organization.
For each asset that Onyx Equities manages, the firm deploys a sophisticated mobile communications and management system that allows on-site managers to meet the property’s unique operational needs with maximum speed, ease and precision. A custom interface displays data in real time and enables the completion of multiple tasks in a seamlessly integrated, cloud-based environment. Various functionalities include cash flow tracking, lease reporting, managing tenant requests, and scheduling of maintenance assignments.
“It is critical for owners, investors and operators to understand that we are in a completely new era, where efficiency can dramatically impact the bottom line.” Schultz said. “Organizations need to be able to effectively leverage all of the technology at our fingertips in order to harness data like we never could before and bring out the best in our people who are doing the day-to-day work of unlocking value from real estate assets through tenant retention, excellence in leasing, sub-contracting and management of finances.”
“Investors should be insisting on the use of best-in-class software and communications platforms and operators should be integrating technology as part of their organizations’ DNA. I believe that CREFC can be an important vehicle for our industry to get ahead of the curve and stay there.”
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 $2 billion worth of real estate assets throughout New Jersey, New York, Pennsylvania and Connecticut. Since 2008, the firm has owned, managed or served as the appointed Receiver for more than 40 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 visitwww.onyxequities.com.