Encore Enterprises

Encore Enterprises, Inc.
"A Vertically Integrated Commercial Real Estate Investment Company"
Type	Private
Industry	Real Estate
Founded	1999
Headquarters	Dallas, Texas, USA
Area served	United States
Key people	Bharat Sangani, M.D., Chairman Patrick J. Barber, President & CEO Charles Omage, General Counsel
Products	Development and Investment, Acquisitions, Brokerage, Capital Markets, Emerging Markets, Hotels, Retail Centers, Multifamily Communities, Office Buildings, Investment Management Healthcare, Project Management,
Number of employees	Approximately 1000^[1]
Website	http://www.encore.bz/

Encore Enterprises, Inc. is an American diversified commercial real estate firm headquartered in Dallas, Texas formed in 1999. Since the company's formation, Encore has completed over $1.9 billion in total transactions in the hospitality, retail, office, multifamily and property management sectors. The company has approximately 1,000 employees. Encore provides turn-key solutions for commercial real estate development and acquisitions, as well as complete project management services for investors and joint-venture partners.

History

Encore Enterprises, Inc. was established in 1999 as a diversified commercial real estate firm. The company develops and redevelops mixed-use complexes, limited and full-service hotels, multifamily communities, retail centers and office buildings. Encore’s mission is to preserve investor capital, while providing superior risk-adjusted returns.

Originally headquartered in Gulfport, Mississippi,^[2] Encore was founded by Dr. Bharat Sangani, and Patrick J. Barber to bring multiple real estate entities created by Dr. Sangani under one umbrella holding company. In 2006, Hurricane Katrina^[3] crippled the Gulf Coast area along Louisiana, Mississippi, Alabama, and Florida. After the storm, Encore was one of the first companies back up and running with IT operations for the company's then portfolio of hotels and retail centers continuing acquisitions of new properties.^[4] In 2006, Encore began to relocate its headquarters to Dallas, Texas where the company resides today in Pinnacle Tower. Encore still maintains a regional headquarters in Gulfport, Mississippi for its Encore Construction Group.

In 2007, Encore sold the majority of its hotel real estate portfolio to institutional buyers. Looking ahead, in 2008 Encore created Encore Retail, LLC and Encore Multi-Family, LLC to diversify operations into multiple asset classes providing the company and investors with greater stability against geography and market cycles. As of 2016, Encore has completed over 100 transactions totaling $1.9 billion.

Over the past decade, Encore Enterprises, Inc. has grown from an hospitality focused firm to a diversified corporation focusing on four real estate sectors: hotels, retail, multifamily, land and office. In 2016, Encore Retail, LLC and Encore Office, LLC merged to form Encore Commercial, LLC.^[5]

Divisions and Affiliates

Encore has diversified operations under multiple, wholly owned subsidiaries, each focused on different types of commercial real estate. The following is an overview of each of the Encore subsidiaries:

Encore Hospitality

Encore Hospitality, LLC is an acquisition, development, and asset management company focusing on the upper mid-priced, branded select-service and full-service hotel sector. The team has extensive experience in value-add and development strategies; it is equally proficient in stand-alone and mixed-use hotel strategies. Starting in 1999, Encore significantly increased the Company’s hospitality portfolio from seven hotel assets to as many as forty-one.^[6]

Encore Commercial

Encore Commercial, LLC focuses on the acquisition, ownership, development, redevelopment, and asset management of retail and Class A commercial office buildings across the United States. Acquisition and development properties with value added potential, credit anchored tenants, and good locations in primary, secondary, and tertiary markets that yield higher market cap rates is the focus for retail locations while office building acquisition is further complemented by plans for new development projects in an effort to build a diversified portfolio of assets.^[7]

Encore Multi-Family

Encore Multi-Family, LLC, founded in 2008, is a full-scale multi-family developer. The company’s capabilities include multifamily developments and acquisitions, including ground-up developments, value-added acquisitions, joint ventures, mixed use, and urban infill communities.^[8]

Encore Equities

Encore Equities Management, LLC manages the funding of offerings for the various real estate value-added and opportunistic (development) opportunities and works closely with the investors.

Encore Equity consists of three capital raising platforms:

(1) High Net Worth - Sources equity capital from high net worth individuals and family offices.

(2) Encore Global - Raises capital through foreign nationals focused on EB-5 investment.

(3) Institutional Capital – Raises institutional equity.^[9]

Services

Encore develops, acquires, owns and operates hospitality, retail centers, multifamily communities and office developments. Each of Encore's real estate divisions create diversity across sectors and geography providing stability for the company through the real estate cycles. Encore has created partnerships with property management companies including Greystar Property Management^[10] for the company's multifamily communities, and Jones Lang La Salle for Encore's office projects allowing Encore to focus on back-office processes and developing new projects while the property management team focuses on the day-to-day front-office processes increasing efficiency.

Corporate Responsibility

To align the company's goals and interests with its investors, Encore co-invests in every development or acquisition made by the firm ensuring partnerships and strategies stay aligned with each institution or investor group.

References

External links

Encore homepage

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