Oxford Companies is positioning itself to become the
property management company in Ann Arbor, strengthening its holdings in both residential and commercial areas.
The Ann Arbor-based company acquired the Northeast Corporate Center this year, a 220,000-square-foot commercial space near Plymouth and Green roads.
"It is the largest acquisition ever for our company," says Andrew Selinger, investment analyst for Oxford Companies
. "It also made us the largest commercial property manager in Ann Arbor."
The 16-year-old, full-service real-estate firm also recently expanded into the residential market. It purchased the Arch Realty portfolio of off-campus student housing near the University of Michigan in 2012. It has since folded the properties into its operations, upgrading the buildings and improving relations with tenants. The Michigan Daily
, U-M's student newspaper, named Oxford Management Services (Oxford Companies residential arm) the best landlord this year.
"It's going very well," says Deborah Pearson, marketing director of Oxford Companies. "We have integrated it into our company and opened up a whole new market. We have come a long away with our residential portfolio."
Oxford Companies currently has a staff of 50 employees and three interns. It has hired eight people over the last year, including maintenance workers, construction tradespeople, property managers, and a COO. The company is looking to hire two more people right now. The hiring is helping the firm keep up with its growth and prepare for more in 2015.
"We are still in a growth mode working on acquisitions," Pearson says. "We're working on an acquisition right now."
Source: Deborah Pearson, marketing director of Oxford Companies; and Andrew Selinger, investment analyst for Oxford Companies
Writer: Jon Zemke