Onyx Equities has strategically expanded its commercial real estate receivership and REO services platform into four new markets: Washington, D.C., Maryland, Virginia and Delaware.
The New Jersey-based firm, which has earned aeputation for successfully managing and/or leasing defaulted commercial real estate assets on behalf of banks, loan servicers, courts and financial institutions, has implemented a cloud-based tenant communications and integrated management system that Onyx customizes according to each property’s unique administrative needs.
This technology-driven approach allows for more streamlined operations and tenant satisfaction and it ultimately helps lenders and services realize increased value from their under-performing assets.
“The proven success of the Onyx receivership and REO services platform has positioned us for rapid growth and expansion, and we see incredible potential in these four markets,” stated Jonathan Schultz, co-founder and managing principal of Onyx Equities.
“As we move through the market cycle, there are many banks, servicers and institutions that are in need of clear advice and recommendations for streamlining their business and addressing their portfolio needs.”
Since its inception, Onyx has managed and/or leased more than 35 million square feet of commercial space. Leveraging its track record of investing, developing and repositioning office, industrial, self-storage, multi-family and retail assets, Onyx provides a full slate of professional services to maximize loan and property values.
“This expansion allows us to more broadly share our deep understanding of today’s market as well as our expertise in the use of cloud-based technology to improve every aspect of the way properties are managed,” Schultz added.
“The efficiencies which we are realizing through the technology we’ve integrated, as well as the data we’re mining, are critical in enabling us to measure the impact of our processes. This helps us strategically scale our portfolio in terms of both geography and size.”
headquartered in Woodbridge, New Jersey, Onyx Equities, LLC 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 Receivership and REO portfolio has recently expanded into 22 states along the east coast.