The Alter Group uses the word “Done” because we can. At a time when the industry is paralyzed because of the twin effects of a lack of securitized credit and the existing overleveraged, often short-term underwriting on transactions, The Alter Group continues to move ahead in 25 markets around the country because we have held to our simple 55-year old guiding principle: to build buildings on our own dime.
We underwrite every transaction with our own capital combined with sound long-term financing. We can still do this because of our financial strength buoyed by our 17 million SF portfolio that is currently 90% leased and a 55-year legacy of successful projects. In a year when more than $400 billion in loans are maturing, when developers and financial institutions are unable to meet their capital requirements on new construction, when tenants have opted to unwind signed leases because of stalled development projects, The Alter Group is able to offer its simple guarantee – that the deal will be done.
Done How?
The Power of Done is knowing how to create a viable development that can stand up to the intense scrutiny of today’s investment and leasing environment. This means developing in 24-hour locations and creating a tenant mix in every asset that combines high credit with high cachet – Class A buildings in high-growth markets. It’s creating flexibility in every building so tenants can restack and reconfigure their space in step with the shifting economy while embracing the revolution of green buildings and sustainable design. It means maintaining a careful balance in our portfolio between established categories like office and industrial facilities, and growth areas like medical facilities, health sciences and student housing.
The Future
Ultimately, our Power of Done speaks to our abiding belief in this industry and its prospects for growth in the long-term: the 45 million people who will join our population creating a demand for new commercial space; the continuing migration of knowledge workers to 24-hour smart cities which will drive the office market; the widening of the Panama Canal and the continued emergence of Mexico and Canada as ports which will create a surge of new demand for industrial development; the evolving $2.5 trillion healthcare system which will create enormous demand for lower-cost outpatient environments; and the 20 million teens who will join the college student population every year, adding to the gathering momentum of the student housing sector.
In an era of can’t, The Alter Group is adapting to the shifting capital markets and anticipating the unfolding real estate trends which will define our industry during the next market epoch. In 1955, we started a company around one man's vision and grew it into a national, professionally managed firm that has maintained its leadership team over 3 decades and 100 million SF of new buildings. Throughout this journey, including navigating through at least four major recessions, we have remained an entrepreneurial firm with the long-term vision and sophistication that aligns with our global, highly networked economy. Today, under our President, Michael Alter, The Alter Group is still getting it done by combining our over half century of financing and finishing transactions with our pioneering spirit that still challenges us to be an innovator. That's what we call the Power of Done. And that's why we're not done yet.
