Dramatic growth awaits National Realty Services Inc. this year, due to a partnership with a well-capitalized New York-based firm.
National Realty partnered with Apollo Real Estate Advisors LP nearly a year ago to acquire real estate in the Midwest. Already, National Realty has purchased five propertiesworth $50 millionand has nearly $70 million more under contract, thanks to the Apollo agreement.
The National Realty team will use its talents of purchasing empty or underleased buildings, rehabilitating older buildings and purchasing new ones to accomplish Apollos goals of acquiring real estate and creating value in it, says National Realty Services President Ron Huff.
Apollo does not enter a market unless it can acquire at least $100 million worth of real estate, says Huff, adding theres no limit on investments. Thats an overwhelming explosion from the $5 million to $6 million value National Realty might have added to its real estate portfolioproperty it either owns or managesin a given year without Apollos assistance.
On the revenue end, Huff is anticipating 25 to 30 percent growth in 1999. Hes also got a window of opportunity. With the real estate market slowing, theres not as much competition for buying buildings, so prices have come down, he says.
Look for Huff to take advantage of the opening and launch the company into a fierce cycle of growth.
National Realty Services Inc.
5131 Post Road, Dublin
Ronald A. Huff, president/CEO
1997 revenues: $3 million range
Estimated 1998 revenues: $3.4 million
Revenue growth, 96 to 97: Flat
Major projects: Port Columbus Executive Park, Westbelt Corporate Center, Crosswoods Center, Cumberland Trail golf community