We operate retail properties in a manner that maximizes value by providing comprehensive management, leasing, marketing and finance/accounting. Whether representing the interests of institutional owners or private investors, we focus on maximizing property value.
accounting financial reporting
With today’s changing retail landscape, you need a partner that will go beyond the basics in property management. It is our job to strategically grow net operating income. We do this by helping clients market their properties to the local and national retail community, creating and managing strategic vendor relationships that lead to economies of scale, and bringing “outside of the box” thinking when it comes to ancillary revenue opportunities.
Woodmont has been ranked by Chain Store Age as the 4th Fastest Growing Retail Property Management Company in the U.S. for the last three years. Headquartered in Fort Worth, Texas, the firm has offices across the country, managing more than 19 million square feet of retail shopping centers, enclosed regional malls and outlet centers in 18 different states.
Woodmont Asset Services in-house marketing group is able to provide sophisticated marketing oversight to owners of retail property. Specifically, Woodmont’s marketing team develops, implements and executes on marketing plans and strategies that result in increased customer traffic and increased tenant sales. Areas of involvement for our marketing team include consumer market research, advertising agency management, merchant relations, website development and maintenance, multi-media consumer campaigns, database initiatives, environmental graphics, social media, and seasonal programs.
The Woodmont Company applies a leasing-oriented approach to every aspect of its activities, considering that there is little to manage without tenants. In regards to leasing, Woodmont’s strong tenant relationships with discounters, outlet retailers, specialty retailers, and department stores give Woodmont the unique ability to create a merchandising strategy that is best suited for a particular asset with the immediate ability to present the asset to the decision maker of the targeted retailer. This capability is particularly important in today’s changing retail landscape as concepts such as lifestyle shopping centers gain popularity and market share with the public. Woodmont is also an active participant in many marquis International Council of Shopping Centers (ICSC) events and industry leasing conferences, including RECon, Value Retail News (VRN) and Texas ICSC.
The Woodmont Company, as well as principals of The Woodmont Company, act as the court-appointed receiver in instances where the lender wishes to take operating control of a retail asset away from the borrower. To date, The Woodmont Company has been assigned as the receiver to 23 retail shopping centers totaling approximately 7 million square feet.
ACCOUNTING / FINANCIAL REPORTING
Woodmont Asset Services provides timely and accurate financial and operational reports in a format consistent with the needs of the owner. Our in-house accounting and information technology staff provides financial reports utilizing Yardi software. In regards to accounting, the following is a summary of the major services available from Woodmont Asset Services accounting department: i) Financial Statements, ii) Cash Management, iii) Budget Preparation, iv) Vendor Disbursements, v) Payroll and Related Taxes, vi) Commission Accounting, vi) Lockbox Management
Woodmont’s centralized lease administration group is a critical component that ensures lease agreement responsibilities of both tenant and landlord are being followed. Specifically, the following identifies those areas of responsibility that are closely tracked and monitored by the lease administration group: i) Tenant gross sales reporting and database analysis, ii) Tenant insurance certificates, iii)Tenant proof of HVAC maintenance (when applicable), iv) Property tax assessment increase notification to tenants (when applicable), v) Maintaining current listing of tenants that are required to be an additional insured or certificate holder on landlord’s liability policy, vi) Landlord “No-Build” zones, vii) Vendor insurance certificates, viii) Tenant exclusive uses, viii) Tenant co-tenancy requirements.
As developers of property ourselves, Woodmont Asset Services has extensive construction management experience that enables Woodmont the in-house ability to supervise major tenant improvement projects as well as developing and implementing long-term capital improvement programs “on-time” and “on-budget.” Woodmont provides owners with in-house Computer Assisted Design (CAD) capabilities and our size gives us the ability to leverage our contractor relationships in order to provide cost savings to our clients.
From coast to coast and north to south, we manage assets with an eye towards building long-term relationships and maximizing returns. Here are several projects that showcase the expertise of our team.