Asset management is responsible for overseeing multiple aspects of long-term asset performance, including identifying, tracking, and managing asset preservation and value adding opportunities to drive key performance indicators.
Specifically, asset management is involved in all aspects of a project’s lifecycle from inception through disposition. This includes feasibility modeling, transitioning from construction to operations, oversight of all property management contract/relationships, monitoring capital markets, insurance and risk management, annual tax/audit reporting, property dispositions, as well as all investor relations. It is asset management’s responsibility to act as owner’s representative while achieving all stakeholder’s goals at the highest possible level.
Asset Management in Detail
Bringing together all of these integrated services under one roof ensures Gorman will be fully accountable for all aspects associated with any of its development projects from commencement to completion with a view toward long-term ownership and management.
The division has grown substantially and now manages over 90 properties and nearly 7,000 units. Gorman & Company manage a full spectrum of housing in multiple states.
Hospitality & Restaurant Management
The hotels within our portfolio are strategic historic rehabilitation projects of key buildings within their communities.
Asset Management acts as the owner’s representative while achieving all stakeholder’s goals at the highest possible level.
Director of Asset Management
Kyle Culotta joined Gorman & Company in 2018 as the Director of Asset Management. In his role he is responsible for developing and maintaining strategic asset management, financial management, and risk management activities for the company’s portfolio. He oversees portfolio performance, stakeholder reporting, and insurance administration. Working with external and internal partners, his responsibilities include multi-state oversight of third-party management companies, capital planning, and refinancing/disposition of assets.
Prior to joining Gorman, Kyle worked with the Wisconsin Housing and Economic Development Authority (WHEDA) where he was responsible for overseeing the Authority’s Tax-Exempt Bond Portfolio. He has over 10 years of experience in asset management, valuation, development, acquisition/disposition and the aggregation and deployment of capital for high density multifamily, office, hotel, and retail properties. Mr. Culotta received his bachelor’s degree in Economics as well as his MBA with an emphasis in Commercial Real Estate Finance from the University of Colorado’s Leeds School of Business.
Allen joined Gorman & Company in 2018 as a Property Accountant prior to transitioning to the Asset Manager team in 2020. In his role as Asset Manager, he is responsible for overseeing and driving property performance through daily interaction with property management. Allen is also an integral part of investor relations and capital market transactions as he is responsible for preparation and review of both internal and external financial reporting.