Allen Sigmon Realty Group is teaming up with NAI SunVista, a full-service commercial real estate company, to handle its property management portfolio. This new strategic relationship went into effect on July 1.
NAI SunVista will be responsible for managing the day-to-day property management for Allen Sigmon's properties across New Mexico, which will include rent collection, maintenance of properties, and the handling of tenant issues. NAI recently expanded its business by hiring seven additional employees, bringing their total to 75 employees and 31 brokers. NAI is located at 2424 Louisiana Blvd. NE.
CEO Debbie Harms said the company moved out of its previous location at 6801 Jefferson St. NE to help support its expansion.
Co-owner and principal of Allen Sigmon, Lance Sigmon, said he and his team interviewed a variety of firms but chose NAI because of their like-minded interest in the community and their commitment to growing their business. NAI currently manages 155 properties in Albuquerque and will add another 25 properties to their portfolio as a result of this deal.
Harms said Allen Sigmon's property management portfolio will bring an increase in revenue and broaden the types of properties they manage. The company will receive a property management fee for managing the properties, she added.
“This strategic relationship with NAI will allow us to do more and grow our business throughout the Southwest,” Brad Allen, co-owner and principal of Allen Sigmon said. “We thought it was a great idea to team up with NAI because they are not only good at what they do, but they love doing it."
By devoting more time to the acquisition and development of properties, Allen Sigmon hopes to add at least $800 million in total assets by 2033, Sigmon said. The company currently holds $275 million in total assets, he added.
As of today, Allen Sigmon is looking to acquire existing properties costing between $1 million and $50 million in various industries such as office, multifamily, retail, industrial, and hospitality. In the second half of 2023, the company wants to acquire at least $20 million worth of real estate across the Southwest, with an emphasis on New Mexico, Sigmon said.
The company currently has two projects under development in Colorado and they are searching for new partners and properties to buy, Allen said.
"Allen Sigmon realized that property management takes a lot of time and energy, energy they would rather spend on development, " Harms said. "They were aware of the type of property management that we do and the properties that we've taken care of. They wanted quality property management services that would help free up time to do what they're really good at — developing."
Allen Sigmon was founded in 2011 and has since grown to develop over 1 million feet of commercial real estate in New Mexico and surrounding areas. The company is currently developing projects in Albuquerque's Uptown area, including a Marriott Element by Westin.