Pitcairn Properties has built a solid financial base and established relationships with leading real estate lenders and financial partners by investing in and successfully managing real estate as financial assets. Our operational divisions are structured to identify unique investment opportunities, maximize cash flow, and enhance asset value.
Our long track record of successful development projects includes the iconic 60-story Bell Atlantic Tower in Center City Philadelphia, 2000 Market Street, 1800-1880 JFK Blvd., and the award winning 160 unit luxury condiminium, The Ellington. In mid-town Manhattan, our 34-story luxury residential project, The Magellan, opened to wide acclaim. Our 155,000 square foot, 3450 Veterans Highway project in Islip, New York, is leased in entirety by Suffolk County. Other developments include prime industrial and flex buildings, and many fine suburban office campuses. The extensive experience of our highly regarded development team enables us to manage the process in-house and generate substantial opportunistic returns. Our development deal flow largely consists of proprietary projects not commonly available in the public market. Many of our partners present us with land development opportunities where vision, expertise and speed of execution are needed to maximize value.
Since its inception in 1968 Pitcairn Properties has honed a strategy to acquire underperforming assets, execute considerable structural and cosmetic renovations and introduce the repositioned assets to the market using industry-leading marketing techniques. While we prefer to hold our assets over the long term, we will not miss the opportunity to capitalize and exploit imbalances in market conditions to harvest profits from mature and stabilized property.
We offer the same level of service that we give our portfolio to our partners as well. In managing all assets, we develop asset plans for every property and take a hands-on approach to leasing, financial reporting, debt sourcing and property management. We interact with our tenants on a daily basis to ensure consistently high levels of service and as a result high rate of tenant retention. Every tenant in our portfolio has direct access to our property managers via a convenient on-line system to process work orders and respond to tenant needs in a timely fashion.
The Pitcairn Properties team has extensive experience in the management of a full range of commercial construction projects, including office buildings, high-rise residential projects and retail centers. We've completed many ground-up construction projects of urban and suburban buildings on budget and on time. We have also completed base building renovations, and tenant improvement projects, tackling every challenge with an Owner's perspective. From breaking ground to topping off, we're behind our projects every step of the way - from conceptual development, budgeting, value engineering ,management of design professionals, to scheduling, cost control monitoring, contract administration, coordination of vendors, subcontractors and the final project closeout.
Pitcairn Properties provides a full range of financial and advisory services to many of our foreign and domestic partners which include; day-to-day accounting transactions, complex pro forma analysis, preparation of annual budgets, and property analysis, we provide these services for properties that we own as well as thrid party managed properties.