Wallick Wire

2012 – New Business Unit Created,
Portfolio Economics Improve

Last year Wallick formalized its efforts to optimize the performance of its real estate assets with the creation of a new business unit — Wallick Asset Management.  In addition to working to maximize cash flow and reinvest in communities, this new division also works to stabilize and improve troubled communities.

Senior Vice President Sharon Shaffer leads the new division. Previously she was Senior Managing Director of Affordable Housing and Low Income Housing Tax Credits at Red Capital Group.  Shaffer also worked with Asset Backed Securizations at Red Capital. Previously she held positions at Textron Financial Corporation, Fifth Third Bank, Wheeling National Bank, One Valley Bank and Bank One.

The Asset Management team is comprised of Shaffer, three asset managers and an analyst.  They focus on increasing the value and sustainability of communities through driving revenue, reducing operating expenses and refinancing and restructuring debt.  Additionally, they manage Resident Services, Bulk Purchasing and Evergreen Materials programs.

The team’s work is already benefiting the company and its business partners.  Last year, the economic performance of Wallick’s managed portfolio (approximately 50% company-owned assets and approximately 50% third party managed assets) improved across almost all metrics, including:

  • Portfolio DSC improved to 1.72 in 2012 from 1.64 in 2011
  • Portfolio NOI for 2012 improved 4.7% over 2011 and portfolio cash flow improved 11.6% over that same period (on a constant asset base)
Plans are already in place for 2013, during which further improvements are expected.
6880 Tussing Road   Reynoldsburg, Ohio 43216-1023   614.863.4640   wallickcos.com