Santa Ana, Calif.–Grubb & Ellis Company has created Daymark Realty Advisors, Inc., a wholly owned and separately managed subsidiary. Daymark will be responsible for the management of the company’s entire tenant-in-common portfolio, providing specialized management services to the owners of the TIC portfolio.
As a result of the restructuring, Daymark Realty Advisors becomes one of the largest real estate asset management companies in the country, serving more than 5,200 clients and overseeing a nationwide portfolio of commercial property totaling approximately 33 million square feet, including more than 8,700 multifamily units. Daymark will be based in Santa Ana with regional offices in Atlanta, Chicago, Dallas, Phoenix and Richmond, Va.
Daymark will provide strategic asset management, property management, structured finance, accounting and loan advisory services to its existing portfolio, led by President and CEO Steven Shipp, who previously served as executive vice president of portfolio management for Grubb & Ellis Realty Investors and has a commercial real estate background spanning more than 22 years in asset management and structured finance.
In connection with Daymark’s launch, Grubb & Ellis and Daymark have engaged FBR Capital Markets & Co. as financial advisor.