COVID Industry Resource
Balfour at Stapleton – Aurora, CO
A Northstar property
COVID-19 Industry Resource
COVID-19 Industry Resource
As the situation with the 2019 Novel Coronavirus (“2019-nCoV, COVID-19”) continues to evolve, there is an understandable concern for the health and well-being of our employees, tenants, investors, and business partners. Northstar Commercial Partners (“NCP”) is closely monitoring the 2019-nCoV situation locally and globally. In order to help be proactive, we have created this COVID-19 Industry Resource page to help provide our partners with information on what Northstar is doing, objective new sources, and helpful government pages.
The health and safety of our employees and tenants are our top priority, best managed with responsible communication and cooperation. On behalf of the NCP organization, know that our thoughts are with you, as they are with our employees, tenants and business partners. While we are all navigating the uncertainty together, our goal is to be a strong partner for you. We are very appreciative of your support during this unique time. It’s important to note that Northstar is still open for business. We are here for our tenants, investors, and associates.
Northstar Company Updates
Northstar Company Updates
Here are the latest company updates from Northstar:
- On Thursday, March 12, 2020 NCP implemented our remote working policy as a precautionary measure due to 2019-nCoV to protect our employees and their families. NCP had been systematically having employees work remotely in the week leading up to this decision in order to ensure business continuity. We will reevaluate this scenario on Monday, March 23, 2020.
- NCP’s objective is to maintain business continuity, keeping our buildings open and functional through communications with our operating partners. Any modifications anticipated to impact building operations within the portfolio will be communicated as applicable.
- On April 2nd, we launched the COVID Industry Resource webpage to keep our business partners up-to-date
- Northstar is exploring options to apply for various small business loans. While we would like to avoid government intervention, it may be in the firm’s best interest to explore these loans as a fail-safe in the event tenants break leases or file for bankruptcy.
For Northstar's Tenants
For Northstar's Tenants
As mentioned before, Northstar is exploring all options as they relate to government loans from the small business association. We encourage tenants and partners to look into these as well. In order to qualify for these loans, here’s what you need to know:
- Government Loan 1
- Government Loan 2
- Government Loan 3
If you have any questions in regards to these government loans, Northstar’s distressed debt specialist, Jonathan Smith is available to talk. You may reach him at: jsmith@northstarcp.com.
Helpful News Links
Helpful News Links
We always encourage our business partners to find objective news sources, especially during a time when many people seek to take advantage of others. Here are some helpful webpages to keep you up-to-date on all COVID-19 related items.
- Link 1
- Link 2
- Link 3
Just to reiterate, even during these tough times, Northstar is open for business. Our leadership team has daily meetings every morning in order to gauge what’s happening on the front lines with the virus. We will not let this slow us down – we are still always looking for new assets to acquire, debt to secure, and capital to raise. If you have any questions, please feel free to reach out.
WHAT OUR PARTNERS ARE SAYING
“I would like to recommend Northstar Commercial Partners. Having worked with several property management companies of all sizes, Northstar has been the most personable and easiest to work with in all aspects of communication and action. They are dependable and always available when needed. Response times to issues are immediate and there is a true sense of customer service and care.
Thank you Northstar for your partnership.”
Jason Hubbard
Office Manager, Boston Market
“CCIG has had a long term relationship with Northstar Commercial Partners Management for insuring their properties. Not only are they focus intensely on their insurance requirements, we also find them to be very client service focused, transparent communicators, knowledgeable, professional, caring and relationship focused. These traits display why the Northstar Commercial Partners Management team is one of the best management teams in the country.”
Scott Carlson
Cherry Creek Insurance Group
“We would like to thank Northstar Commercial Partners for the long and appreciated relationship over the years. It is vital in our industry to have clear, honest, and prompt communication; Northstar is always readily available and reliable. We respect and value our close partnership with Northstar Commercial Partners and look forward to continuing that partnership in the future. Thank you Northstar for all that you do.”
Jesus Guerrero
Vice President, Commercial Cleaning Systems
“As a tenant and small business owner in over 15 office building locations across the Denver Metro area, I have worked with numerous property management companies. NorthStar Commercial Partners are clearly leaders and innovators in their industry. I truly appreciate the commitment to their tenants, buildings, grounds and amenities. NorthStar Commercial Partners is proactive, reliable, knowledgeable and integrated into the community. Doing business with NorthStar Commercial Partners is being a part of something bigger.”
Phillip Booghier
Owner/Operater, Amenity Foodservice Concepts, Inc.
“Several months ago we took over ownership of a struggling franchise in Colorado Springs. As we looked at the business and project, it was clear that rent could be the largest hurdle for both financial and legal reasons. As we went into this project, we were warned by a friend that the landlord’s would be our biggest obstacle. This couldn’t be further from the truth. Nick has been responsive and professional throughout this process, but even more, he truly seems to care and try to make this project work for us. We have felt that he has always been working with us to help us succeed, and has been an exceptional representative for property management.”
Eric Liebold and Nate Banet
D1 Sports Training
“I am writing this letter of appreciation for the way that Northstar has served as a landlord for our church. When we moved to the building, we were looking to save money and be in a community where we could do the most good. We were not aware of the instability of the Master-Tenant that was working with the bank at the time. When they were evicted from non-payment among other things we wondered what was going to happen to us. Because it is so difficult to move an entire ministry at a moments notice, it was going to be very stressful and challenging. I talked to a representative from Northstar by the name of Nick who showed compassion and genuine concern for our situation. Northstar not only allowed us to continue to have our church here, they gave us an opportunity to manage the entire building. It is very inspiring to meet and work with an organization that cares about their tenants and really goes above and beyond to try and make them more successful. When I met with the officers from Northstar to discuss the opportunity, I was impressed with the transparency and genuineness of them. I am looking for a lasting relationship with Northstar, and I am hopeful that greater opportunities will develop. I thank God everyday for allowing our church to cross paths with such an outstanding organization.”
Pastor Richard Lewis
Senior Pastor, House of Hope Christian Ministries
“Martinson Services has been in business since 1986. In these 31 years, we have worked with countless numbers of companies and have recognized a few key traits associated with successful property management teams. Traits such as, honesty, integrity, hard work, accessibility , and attention to detail are baseline items that most property management teams exhibit to sell themselves and to stay in business. Northstar exemplifies all of these characteristics, but to us, this isn’t what makes them special. In our opinion, smart managers with GREAT communication are the ones that stand alone.
When problems arise, which is common in our line of work – snow storms, the intelligent and battle tested managers communicate concerns, listen, and are helpful with a solution to whatever the issue may be. While some managers use a phone or email to voice displeasure, the Northstar team excels at efficient and positive communication.
Several years ago now, my first interaction with Northstar Commercial Partners was an on-site property walk with Patricia Watson. It became immediately clear that this firm was different from the others. Brian and Patricia Watson were quite the team back then and I can tell you today that they still are. Their company has grown a great deal over the years, but you still see those core values reflected in all of their property managers and teams that have been built as a result of their growth.
This is what makes them great in my opinion.”
Chad Lunde
Vice President, Martinson Snow Removal
20%+
INVESTMENT RETURN
AVERAGE OVER 19 YEARS
20%+
INVESTMENT RETURN
AVERAGE OVER 19 YEARS