National property management group moves to Memphis

Memphis is the latest stop on a major Southeast expansion for property management firm Onyx Equities. 

 

Already this year, the New Jersey-based real estate investment, management and development firm has opened offices in Atlanta, Georgia; Crofton, Maryland and Charlotte, North Carolina. By the end of 2015, Onyx projects that it will have operations across 15 states. Since its founding in 2004, the company has acquired $2 billion in real estate assets throughout New Jersey, New York, Pennsylvania and Connecticut. 

 

“It fits in well,” said Managing Principal and Co-Founder Jonathan Schultz of the Memphis expansion. “We are customer-centric. We have lots of customers that have holdings throughout the East Coast and Mid-Atlantic, and that’s been how we’ve focused our growth.” 

 

A focus on receivership management and a growing REO portfolio also encouraged the move to Memphis. 

 

Claudia Woods will be heading up the Memphis office to be located at one of the buildings Onyx manages at Lenox Park. In her previous position at Cushman & Wakefield Commercial Advisors, Woods managed a 2.9 million-square foot distressed property consisting of 25 industrial, flex and retail building. Under her tenure, she reduced delinquencies to a historically low five percent. 

 

Joining Woods is April Sexton, previously with Colliers International, and Frances Bell, previously with PDC Properties, Inc. The team has a combined 40 years in Memphis real estate. 

 

“We’re very excited about the potential here. We’ve gotten a very warm reception within the market,” Woods said.