Encore Enterprises

Encore Enterprises, Inc.
Private
Industry Real Estate
Founded 1999
Headquarters Dallas, Texas, USA
Area served
 United States
Key people
 Bharat Sangani, M.D., Chairman
Patrick J. Barber, President & CEO
Mahesh Shetty, Chief Financial Officer & Chief Operating Officer
Charles Omage, General Counsel
Products Development and Investment, Acquisitions, Brokerage, Capital Markets, Emerging Markets, Hotels, Retail Centers, Multifamily Communities, Office Buildings, Investment Management Healthcare, Project Management,
Number of employees
 Approximately 600[1]
Website http://www.encore.bz/

Encore Enterprises, Inc. is a diversified commercial real estate firm headquartered in Dallas, Texas formed in 1999. Since the company's formation, Encore has completed over $1.2 billion in total transactions in the hospitality, retail, multifamily and property management reservation sectors. The company has approximately 600 employees serving primary throughout the Southeastern region of the United States. Encore provides turn-key solutions for commercial real estate development and acquisitions, as well as complete project management services for investors and joint-venture partners.

Encore's recent accolades and milestones include: beginning construction in Denver, Colorado on the company's newest multifamily community, Encore Highpointe Park,[2] Sterling Resorts, Encore's beach resort vacation management company, receiving the prestigious Flagler Award for 2011,[3] as well as Encore being listed in Hotel Business' Top 100 Owners and Developers list in 2009,[4] 2006[5] and 2002.[6]

History

Encore Enterprises, Inc. was born in 1999 as a diversified commercial real estate firm. The company develops and redevelops mixed-use complexes, limited and full-service hotels, multifamily communities, retail centers and office buildings. In addition, Encore manages hotel and luxury vacation condominium resort properties in addition to homeowner associations. Encore’s mission is to preserve investor capital, while providing superior risk-adjusted returns.

Originally headquartered in Gulfport, Mississippi,[7] Encore was founded by Dr. Bharat Sangani, and Patrick J. Barber to bring multiple real estate entities created by Dr. Sangani under one umbrella holding company. In 2006, Hurricane Katrina[8] crippled the Gulf Coast area along Louisiana, Mississippi, Alabama, and Florida. After the storm, Encore was one of the first companies back up and running with IT operations for the company's then portfolio of hotels and retail centers continuing acquisitions of new properties.[9] In 2006, Encore began to relocate its headquarters to Dallas, Texas where the company resides today in the Occidental Petroleum building. Encore still maintains a regional headquarters in Gulfport, Mississippi for Encore Construction Group, LLC and Encore Retail, LLC.

In 2007, Encore sold the majority of its hotel real estate portfolio to institutional buyers. Looking ahead, in 2008 Encore created Encore Retail, LLC and Encore Multi-Family, LLC to diversify operations into multiple asset classes providing the company and investors with greater stability against geography and market cycles. As of 2012, Encore has completed over 82 transactions totaling $1.2 billion with over $200 million in new acquisitions and developments during 2010 and 2011.

Over the past decade, Encore Enterprises, Inc. has grown from an hospitality focused firm to a diversified corporation focusing on five real estate sectors: hotels, retail, multifamily, land and office.

Divisions and Affiliates

Since the company's formation in 1999, Encore Enterprises has been primarily a hospitality developer and hospitality focused investment company, primarily developing, acquiring and managing real estate investments along the Gulf Coast. Today Encore has diversified operations under multiple, wholly owned subsidiaries, each focused on different types of commercial real estate. The following is an overview of each of the Encore subsidiaries:

Encore Hospitality

Encore Hospitality acquires, develops and manages hotel assets throughout the Southeastern United States with upper mid-priced, branded select- and full-service properties. Founded as a subsidiary of Encore Enterprises, Inc. in 1999, the company has developed, or acquired and turned around, 44 hotel properties with 4,674 rooms. Since selling the majority of its real estate portfolio in 2007 and 2008, Encore Hospitality currently owns and operates four hotel properties including the Hilton College Station Hotel and Conference Center, a 303 room full-service hotel located adjacent to Texas A&M University and is the largest hotel in the market area. Target brands for Encore Hospitality include, Marriott, Hilton and InterContinental branded hotels.[10]

Encore Construction

Founded in August 2000, Encore Construction offers a full line of general contracting services including: hospitality, health care, entertainment, commercial, retail, and multi-family. Encore Construction is currently licensed in Mississippi, Alabama, Florida, Texas, Georgia and Louisiana.[11]

Encore Global

Encore Global represents prominent foreign nationals and their families who want to become permanent legal residents of the United States through investments in one of Encore’s government-approved EB-5 Regional Centers. Using industry insiders, resources and market experience, Encore Global brings together like-minded individuals, developers, and financiers who are committed to engage real estate investors across all international market platforms.[12]

Encore Land

Encore Land, LLC is a land investment company focusing on identifying and acquiring strategic land parcels in unique locations for master planning and entitlement of commercial and residential developments. Encore Land is a recent addition to Encore Enterprises and was created to provide a strategic area of focus to newly emerging markets with long-term secular growth potential.[13]

Encore Public/Private

Encore Public/Private, also known as Encore Garfield, is a national real estate development services provider that uses innovative and cost-effective financing methods and “turnkey” delivery solutions tailored toward the requirements of public sector and institutional clients. The company offers a complete development solution that includes site identification and acquisition, zoning and entitlement, financing, investment, oversight of design and construction, and asset management.[14]

Encore Retail

Encore Retail, LLC is a privately held commercial real estate company focused on the acquisition, ownership, development, redevelopment, and asset management of retail shopping centers initially focused on the Southeastern region of the United States. The Retail division’s strategy is to acquire, develop, and redevelop retail shopping centers providing attractive unleveraged yields.[15]

Encore Multi-Family

Founded in 2008, Encore Multi-Family, LLC is a full-scale multifamily developer with a concentration on the Southeastern United States. The company is involved in all arrays of multifamily developments and acquisitions, including ground up developments, acquisitions, joint ventures, mixed use, turnkey developments and urban infill communities.[16]

Encore Office

Encore office was founded in 2011 to acquire and develop multi-tenant office buildings in Class A locations throughout the United States at discount to replacement cost in targeted market areas where office using demand growth is anticipated to outpace supply growth. The company also develops and utilizes local market intelligence within each community to maximize operations and leasing opportunities.[17]

Encore Institutional Capital

The Encore Institutional Capital group is a wholly owned Encore subsidiary and placement group. It is responsible for the institutional equity and debt placement for all Encore property groups. EIC works with investment managers, insurance companies, private equity funds, pension funds, banks, sovereign funds, CMBS and private lenders to capitalize Encore projects. Encore invests in value-added and opportunistic multi-family apartments, limited and full-service hotels, office, retail, and public-private mixed-use developments.[18]

Sterling Resorts

Sterling Resorts is a beach vacation and rental management company acquired by Encore Enterprises in 2008. Sterling Resorts provides condominium owners rental management programs that include branding, sales, property management and on-site check-in and check-out services along the Gulf Coast. During the 2012 year, Sterling Resorts had over 1,200 units under management or rental service agreements in Florida, Alabama and Mississippi.

Services

Encore develops and acquires, owns and operates hospitality, retail centers, multifamily communities and office developments. Each of Encore's real estate divisions create diversity across sectors and geography providing stability for the company through the real estate cycles. Encore has created partnerships with property management companies including Greystar Property Management[19] for the company's multifamily communities, and Jones Lang La Salle for Encore's office projects allowing Encore to focus on back-office processes and developing new projects while the property management team focuses on the day-to-day front-office processes increasing efficiency.

Corporate Responsibility

To align the company's goals and interests with its investors, Encore co-invests in every development or acquisition made by the firm ensuring partnerships and strategies stay aligned with each institution or investor group.

See also

References

  1. ↑ Encore Enterprises, Inc. (25 March 2012). "Encore Enterprises, Inc. About Us".
  2. ↑ "Encore Wins Financing for Next Apartment Project."
  3. ↑ "Sterling Resorts Receives 2011 Flagler Award for Innovative E-Marketing Campaign."
  4. ↑ "Top 100 Owners and Developers". Hotel Business 18 (17). September 7–20, 2009.
  5. ↑ "Top 100 Owners and Developers". Hotel Business: 32–33. September 7–20, 2006.
  6. ↑ "Top 100 Management Companies". Hotel Business: 46–47. April 7–20, 2002.
  7. ↑ "Gulfport, Mississippi"
  8. ↑ "USA Today: Coastal businesses work to recover, relocate, survive"
  9. ↑ "Encore Plans Expansion With Help Of Portfolio Acquisitions"
  10. ↑ http://encore.bz/hospitality/
  11. ↑ http://encore.bz/construction/
  12. ↑ http://encoreeb5.com/about-us/
  13. ↑ http://encore.bz/land/
  14. ↑ http://encore.bz/publicprivate-2/
  15. ↑ http://encore.bz/retail/
  16. ↑ http://encore.bz/multi-family/
  17. ↑ http://encore.bz/office/
  18. ↑ http://encore.bz/investor-relations/encore-institutional-capital/
  19. ↑ "Greystar Property Management"

External links

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