New property services venture launched
JOHANNESBURG - Atterbury, a property developer and investor, has launched a new property services joint venture with Excellerate Property Services (EPS) to add value to its properties under management. ATTX, as the new partnership is named, would apply a vertically-integrated joint venture approach to property services that would remove the line between asset manager, property manager and landlord.
The ATTX team would operate alongside the Atterbury Asset Managers at Atterbury’s head office, but its operational activities were the responsibility of joint venture partner EPS.
The property services specialists would work in a focused environment, yet remain closely connected with the property owner and asset manager. In addition to the staff based within Atterbury’s office ATTX would offer property services on-site at many of Atterbury’s property assets.
Atterbury Asset Managers managing director Lucille Louw said with ATTX they had mapped out a long-term plan to improve overall property services delivery infrastructure with EPS as partner. EPS chief executive Marna van der Walt said creating joint ventures eliminated having to choose between outsourced or in-house only models.