ASB Capital Management (ASB Capital) was founded in 1983 as an independent subsidiary of American Security Bank, one of the largest financial institutions in Washington D.C. at the time.
As an SEC-registered investment advisor, ASB Capital historically provided investment management services to Washington D.C.-based institutional clients investing in fixed income, equities and real estate. In 1984 as part of its investment offerings, ASB Capital formed an open-end real estate bank collective fund available to qualified employee benefit plans. After a series of bank mergers in the 1980’s and 1990’s, ASB Capital became an independent subsidiary of NationsBank and in 1997 was acquired by the Saul Organization, a Washington D.C. based multi-generational family trust that continues to own the firm today together with the senior officers of the company.
In 2003, Robert Bellinger was hired as Managing Director to develop ASB Capital’s real estate investment advisory business. Under new leadership, the firm’s investment focus was reoriented toward urban gateway markets and in 2004, ASB opened a West Coast office to facilitate a national investment program. In 2006, ASB Real Estate Investments was formed as a separate division of ASB Capital to focus resources on the firm’s growing real estate business comprised of two products: the open-ended investment vehicle, which was rebranded as the ASB Allegiance Real Estate Fund, and a separate account. In 2010, ASB launched the Meridian Fund, a $115 million low leverage, closed-end vehicle focusing on opportunistic real estate investments.