Atlanta Investment Properties Gains “Top Down” Investment Protection with Greystone Group

For property investment companies, physical buildings are always their greatest assets. A crucial component of maximizing the value of that asset is sealing the building envelope—and especially the roof. When Atlanta Investment Properties owner Daniel Levison realized that several buildings his firm managed either needed roof repair or were approaching roof replacement, he sought an experienced, reliable, high-quality roofing company to perform the work. He found one in Greystone.

“An old colleague introduced me to Shawn (Vermino , President of Greystone),” says Levison. “He had worked with Greystone to replace the roof on a 50,000-square foot warehouse and was very happy with the results.” Levison initially hired Greystone to replace the roof on a 105,000-square foot property at 1075 Fred Drive and was highly satisfied with the outcome.

“The level of service we received, the price and the quality were all impressive,” says Levison, “well above anything I had previously experienced. Since then, he has done a lot of work for us, and we are happy with all of it.”

Levison cites many value-add services he receives from the Greystone team, such as the “check-ins” that Vermino or his staff perform after it rains—either with a physical visit or a phone call. Levison also likes the fact that Greystone staff takes pictures of repair and replacement work and sends them with the bill.

“That documentation gives us a visual record of our maintenance over time,” says Levison. “When we sell the building, we can provide a great analysis—with visual proof—of all the repair work that has been done.”

A True Partnership

Beyond those benefits, Levison says, Vermino works with him, like a partner, to perform on-site evaluations when it matters most. “I have taken him to some brokerage deals where we were competing with several other companies to make the sale,” says Levison. “In one instance, we got up on the roof and then Shawn went with me to break the news to the potential purchasers that the roof was bad. We replaced the roof and they bought the building. They were impressed that we had jumped right on the roof. Nobody else would do that.”

From the beginning, according to Levison, Vermino has worked with him in that manner—making decisions not in the best interests of Greystone, but rather to look out for AIP’s. “Shawn stays up on industry trends, and he’s good at giving unbiased evaluations to third-party owners and investors,” says Levison. “Before I purchase or lease a building, I ask Shawn to evaluate the roof from an investment perspective. ‘Will this thing last?’ I ask him, ‘Or should I price in a replacement, and add that to the financing, now?’”

“Shawn is incredibly helpful,” Levison continues. “He wants to know our game plan—whether we are holding the property for 10 years, or fixing it up and flipping it. Based on our answers, he prepares his recommendation.”

Levison cites numerous notable projects where he and Vermino worked together to maximize outcomes with roof repair or replacement. Recently, he says, Greystone completed an AIP building renovation where workers tore off three old roofs and then removed and replaced part of the metal base so they could install an insulated roof to increase energy efficiency. The building is now housing up to 300 entrepreneurs and business professionals in one of AIP’s SharedSpace co-working locations.

AIP also owns several homeless shelters, where closures due to a faulty roof could mean the difference between life and death. He relates the tale of one shelter where Greystone resolved some especially complex issues.

“We created a homeless shelter from a 10,000-square foot building at 561 W. Whitehall Street. It was built in Quonset hut style—like an Army barracks—and had a unique roof,” says Levison. “As a result, there were problems with interior drains. Greystone evaluated the problem and made the repairs. We haven’t had any problems since.”

“He is the only roofer I would recommend.”

When asked if he would recommend Greystone, Levison doesn’t hesitate. “I just recommended him to one of my closest friends—someone who has invested with me in the past. Shawn knows how to evaluate a building, and he knows as much about roofing as anyone I have met,” Levison concludes. “He is the only roofer I would recommend.”

About Atlanta Investment Properties

Founded in 1998 and based in Atlanta, Georgia, AIP is Atlanta’s premier real estate investment and brokerage company. The firm purchases and manages and/or leases buildings with partners and for third parties. AIP’s management team focuses on each client’s goals for a particular project and uses a combination of local knowledge and the most effective tools to achieve them. AIP also owns and leases its own buildings, using them to test and evaluate new tools, techniques and vendor relationships to maximize each client’s net operating income. For more information, visit aipproperties.com.

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2018-02-06T12:43:11+00:00 February 1st, 2018|Case Studies|