Salt Lake City’s RealSource Properties selects Phoenix American for fund administration services
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Salt Lake City’s RealSource Properties selects Phoenix American for fund administration services 12 August 2022US Reporter: Jenna Lomax
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Investment management firm RealSource Properties has selected financial service Phoenix American for fund administration services.
Founded in 1989, RealSource is a Salt Lake City-based real estate investment company
providing acquisitions, asset management, day-to-day property management and
reporting for investors.
As part of the mandate, Phoenix American will support the RealSource’s Multifamily REIT with its investor services platform, which features the STAR-XMS shareholder management and transfer agent system.
STAR-XMS investor houses a full range of back-office services including fund accounting, transfer agent services, an investor and advisor portal, tax services, in-house printing and fulfilment, as well as full back-office outsourcing.
The company launched RealSource REIT in May 2021. RealSource’s capabilities range from construction to renovation to all aspects of asset management, property management, and financing. The company manages multifamily properties in Ohio, Texas, North Carolina, Kentucky and Colorado.
RealSource says it will benefit from Phoenix American’s technology, focus on customer
service, and extensive experience with the operational challenges specific to alternative investment real estate funds.
Jeff Hanks, chief financial officer of RealSource Properties, says: “We are excited to have the depth and breadth of Phoenix American supporting us as our new fund administrator. Their reputation for delivering exceptional investor reporting and interaction allows the RealSource Multifamily REIT to focus on our core business of striving to deliver solid investment results.”
Andrew Constantin, chief operating officer at Phoenix American, comments: “RealSource is a forward looking investment firm that manages every aspect of real estate they acquire. We bring the same kind of forward-looking, time-tested complete range of services to fund administration for alternatives. We look forward to a great working partnership with RealSource.”
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