Carnegie Companies is an affiliated group of privately-owned, multi-state real estate investment companies. The oldest in this group of professionally managed and family-owned firms was established in 1927.

Carnegie currently owns or holds significant financial interests in over 40 properties located in Ohio, Indiana, Florida, Missouri, Illinois, New York, Colorado, and California. The company self-manages its properties and prides itself on being a "hands-on" owner with a strong focus on details. The current portfolio includes shopping centers, apartment complexes, mobile home parks, office/warehouse space, parking garages and undeveloped land. Carnegie typically manages its properties with a long-term orientation. In fact, the company has owned and operated certain properties in excess of thirty years.

As a third-generation owned firm, Carnegie has a long history of sustained profitability and positive cash flow. Financially, Carnegie is conservatively structured with a number of its properties owned debt-free. Existing debt is typically nonrecourse and/or property specific in nature. The company has the in-house capability to complete substantial transactions by involving additional equity participation. Additionally, Carnegie is an "approved" purchaser and borrower of the F.D.I.C. (and its predecessor, the R.T.C.), H.U.D. and various other major institutional lenders.
 

 
   
 

Two specific goals guiding the company are: i) sustained growth through orderly property acquisition; and ii) enhancement of the current portfolio of properties.
Management's use of the following key strategies helps to ensure achievement of the company's goals:


Identification of acquisition candidates which provide above-average overall returns (current cash flow and/or capital gain opportunity) with moderate down-side risk.

Acquisition of properties only after completion of a methodical due diligence process, including: site visits, market studies, environmental investigations and title/survey review.

Utilization of strict management and accounting controls for each property acquired.

Provision of all properties with professional and readily accessible on-site management and maintenance personnel.

Scheduled and on-going tenant dialogue and lease review.

Annual revenue planning and capital budgeting resulting in implementation of scheduled property improvements and preventative repair/maintenance programs.

 

 


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