Humford Management Inc.

corporate profile Insolvency Work

Overview

Humford Management Inc. is an experienced, independent property management firm with a strong reputation built on exceptional accounting and reporting, excellent service to tenants and landlords, and the highest level of integrity. Our skill set and depth allow us to respond quickly with a full team of personnel to stabilize, assess and add value to distressed properties.

Approach to Management

Humford has offices in Edmonton and Calgary and manages properties throughout most of Alberta. Our current portfolio is approximately 6 million square feet of commercial space in over 100 properties. Humford brings to each asset an experienced and skilled team consisting of the property management, building operations and accounting functions. Our property managers, building operators and project accountants have a depth of experience and co-ordinate their work to provide maximum value to each property. Humford has a track record of success managing construction and development projects. Humford also has Asset Management skills that provide our clients with an additional strategic perspective on properties. Humford offers the unique ability to complete detailed operational audits, clear up outstanding accounts, finish stalled construction projects and provide comprehensive reporting tailored to the specific needs of a foreclosure or workout position. Attention to detail combined with a strong sense of urgency provides timely, reliable results.

Case Study

Recently, Humford was designated to act for a lender under an Attornment of Rents order for a 300,000 square foot office tower in downtown Edmonton. Eventually we assumed full property management duties for the property; our objective was to stabilize the asset in order to enhance its value. Our work included rent review and arrears collection, improving tenant relations, a facility and operational review identifying and prioritizing deferred work to preserve the asset and its income stream, and identifying and pricing work to increase the value of the property. We also worked with vendors to remove liens and claims. We provided frequent accounting and reporting to the lender to assist in decision making. During our tenure we improved tenant relations and the operating efficiency of the property. Eventually the property was transferred to new ownership.

Contact Us

Confidential inquiries regarding insolvency work may be directed to David Judge, President at 780.426.4960, extension 226.