In our nearly 55 years of successful third-party asset management Paul Ash Management Company, LLC been through hundreds of job interviews with prospective clients and have experienced many baptisms under fire as managers. Over the years we have successfully managed our own assets as well as worked for developers, banks, the federal government, large institutional funds, owner associations and “Mom & Pop” investors. Our clients have told us they depend on many factors in a successful owner – manager relationship which we build with them.
Starting with the basics. Proficiency in the areas of accounting, human resources, communications, legal, construction, risk management and prompt service are the “blocking and tackling” in our company. Without these basics it is impossible to achieve success for our clients.
Next, it is very important for an asset management company to understand the basics of how investment decisions are being made by their client. It is also crucial that the management company understands management from standing in the shoes of his clients. Being owners and operators of over 1,000,000 square feet of commercial / industrial / public sector properties as well as 1000’s of multifamily rental units we understand the hard work and sometimes the anguish it takes for investors to be profitable in the industry because we operate in the same space.
Time management is a hard thing to master but an effective asset management firm sets goals, prioritizes work and hits deadlines for their clients. This includes avoiding complacency when everything seems to be going just “right.” An effective manager uses slack time to get ahead and operate at a higher level of efficiency. Timing sometimes is tricky but knowing also when the time is right to advise a client to sell has been a strength of our firm. Our goal is to always place our client’s interests before those of anyone else.
Creative asset managers are hard to come by and always have been hard to find. Just because a company did something once and it did not work is not a reason to stop finding new creative ways to succeed. We have found that managers who do things a certain way because “that is how we’ve always done things” is not a ticket for success. Times change and success depends on adaptability. Our firm has been on the forefront of new ideas and always searching for new ways —steeped in tried and true success — to answer new challenges.
A successful asset manager is one who knows and understands the language of finance. As such our firm is most often at the table advising owners during due diligence, working on new financing, in the middle of major value add projects and an integral part of a marketing program when the asset is sold to a new ownership group. Our firm is frequently at the table because of our robust financial skills and our past achievements in the industry.
For an owner to profit the asset manager must become a resource for the owner. An asset manager must have the strength of institutional knowledge. Filling in local history, sourcing proven providers, tapping into networks, knowing market trends. A valued asset manager compensates for an owner who may not have much local presence in a market or a property product group. We make clients look good and the credit derived is higher asset profitability.
With over a half century of success Paul Ash Management Company LLC will continue to be an indispensable resource to our clients in residential, commercial, industrial, public sector and community management assignments. We are always looking for the next opportunity to help our clients achieve their goals.
Bruce Ash, CPM
President / CEO
Paul Ash Management Company, LLC
Remembering Paul Ash – Maccabiah Record Holder
Longtime Arizona Daily Star sports editor Abe Chanin* dubbed Paul Ash* the “strongest Jew in the world” and helped him raise some of the money he needed to go the Maccabiah Games in Israel in 1957.
A military veteran and avid card player, Paul Ash raised the rest of the funds by winning card games as he criss-crossed the United States on the military transport flights that got him to New York in time to catch his flight to Israel. He won the first of his two gold medals that year in the sport of weightlifting, breaking all records in the 198-lb class. He competed and won the gold medal again in 1961.