Aston Properties has been buying and selling commercial real estate assets since the firm’s inception in 1980. Pre-2009, the bulk of Aston’s acquisition and disposition efforts were focused on executing 1031 tax deferred exchanges for our legacy portfolio. Tactical 1031 exchanges remain an integral part of our acquisition platform — and one of the firm’s core competencies. In December 2015, Aston Realty Investment Company (“ARIC”) was formed through the consolidation of 17 of Aston’s predominately grocery-anchored shopping centers located throughout North Carolina, South Carolina and Virginia into one entity. ARIC’s flexible corporate structure allows the company to buy and sell assets with relative ease. More information about the ARIC platform can be found under the ARIC tab.

In 2009 amidst the financial crisis, Aston developed a strategic initiative to acquire opportunistic and value add assets that would leverage the companies’ deep market knowledge, tenant relationships and access to investment capital. In October 2018 principals of Aston Properties formed Aston Capital to further pursue value add and opportunistic commercial real estate investment initiatives. Information about Aston Capital can be found under the Aston Capital tab.

With a collective 35 years of brokerage and leasing experience in the Southeast, the Aston team has strong market knowledge of our assets, their local demographics and retail environments.  A key focus of Aston Properties is and has been developing integral and lasting relationships with retailers and the brokerage community which has contributed to our success.

Every transaction is given undivided attention no matter the size. The leasing department stays involved through all stages of the process from initial negotiations, lease execution, through the day the Tenant opens for business. The emphasis is always to look at all transactions from a business owner’s and Landlord’s perspective. This thoroughness has led to strong relationships with key retailers such as Harris Teeter, Food Lion, Walmart and CVS/Pharmacy and repeat business opportunities. We pride ourselves in handling first class retail centers that are both grocery, and big box anchored and specialty centers covering more than 2,700,000  million square feet in the southeast.

Third Party Leasing

Aston’s successful track record and strong business relationships has afforded us the opportunity to expand into various third party listing assignments. Most notably, a Food Lion portfolio of excess retail shop space, big boxes and land throughout North and South Carolina.

Leasing services include:

• Performing market analysis
• Developing strategies for leasing small shop, anchor tenant spaces, and available outparcels
• Working closely with current ownership to negotiate the leasing of the properties with potential prospects
• Marketing said leasing opportunities directly to potential end users and to the appropriate brokerage community
• Identifying the optimum layout and the highest and best uses for the property under the current zoning

Aston is committed to providing first class service, customized to help execute and exceed specific goals for our clients. This includes staying well informed of changes in any given market to allow us to see trends and opportunities that effect any given asset.

To discuss how Aston can perform for you, please contact Randy Green or Lauren Hansen

The Aston team’s approach to property management begins with the philosophy of treating every property as if it were our own.  From this platform, we are able to continually and proactively enhance property value.

With a combined staff experience of more than 25 years, we offer each property a full range of hands-on services that are customized to the unique requirements of each property.  These services include:

• Local market experience to take care of details.
• Long-term vendor relationships.
• Maintaining positive property aesthetics.
• 24/7 availability as well as frequent on-site management.
• Understanding of tenant financial well-being and assistance with success.
• Protection — and enhancement — of investment for our partners
• Tailored reports for ownership groups that provide current details of property status.
• Knowledge of — and assistance with “Green” initiatives including LED lighting, storm drains, rain gardens and other best practices.

Contact one of our skilled Property Managers for how we can assist you:

Mary Anne Richard

Charlie Bernstein

Aston Capital (“AC”) was established in October 2018 by principals of Aston Properties (“API”) and is a private investment company focused on acquiring value-add and opportunistic commercial real estate assets. AC seeks to replicate the success of API’s acquisition platform which was managed by the principals of AC since 2009. API executed on over $200 million of debt and fee simple CRE opportunities using capital from high net worth individuals and institutional partners. Tailored business plans were developed for each investment, ranging in scope from light re-development to a full change in use and re-positioning. The average hold period for realized investments was 26 months, producing average deal level IRRs in excess of 20%. Our focus remains on risk management and prudently returning capital to shareholders. AC is an affiliate of and collaborates with API on development, leasing and property management.

Investment Strategies:

AC focuses on identifying and acquiring undervalued, mismanaged commercial real estate assets that typically share one common attribute — fundamentally sound locations within their respective market.  The investment – management – disposition process is a team effort that touches many of the firm’s functional areas.   Each asset is rigorously underwritten, expertly managed and either sold or recapitalized with discipline in order to deliver superior risk adjusted returns to our investors.

Value-Add 

AC’s long-standing and personal relationships with key financial institutions and commercial brokers enable us to source exclusive value-add opportunities. Furthermore, it is the company’s reputation with major tenants and local market knowledge that has consistently added value to the properties that we acquire. AC leverages its affiliation with API’s development team to effectively move towards a profitable strategy which may include repositioning through redevelopment or renovation.

Target IRR:  > 15%

Hold Period:  3-7 years

Opportunistic Investments

AC sources opportunistic investments via non-conventional and direct channels that include bankers, brokers, receivers, mortgage special servicers and workout specialists. Opportunistic strategies include acquiring distressed notes secured by commercial real estate assets, lender owned assets, broken development deals and operating company insolvencies. Aston’s objective is to own and operate these distressed assets, and to determine appropriate exit strategies with targeted buyers.

Target IRR:  > 20%

Hold Period:  1-5 years

Product Type (Fee-Simple and Debt Assets)

• Retail Value Add and Opportunistic
• Storage Market Specific Value Add and Opportunistic
• Office Market Specific Value Add and Opportunistic
• Industrial Market Specific Value Add and Opportunistic
• Residential Market Specific Value Add and Opportunistic

Please contact Jamie Kneisel to discuss specific opportunities and track record.

Aston Realty Investment Company (“ARIC”) formed on December 30, 2015. In a transaction valued at over $225 million, 17 unique retail properties residing in separate single purpose entities, were combined to create a portfolio of predominately grocery anchored shopping centers located throughout North Carolina, South Carolina and Virginia.

In conjunction with closing the transaction, ARIC refinanced the majority of its secured loan debt utilizing a $100 million unsecured loan facility with Wells Fargo. The flexible nature of this financing has allowed ARIC to deploy capital to segments of the portfolio expected to yield the greatest return on investment.

During the first 3 years of operations, ARIC has experienced NOI growth of 2.7% and created a track record of delivering consistent dividends, while reducing the overall debt of the portfolio.

If you would like more information about ARIC, please contact George Dewey