Retail Case Studies
Retail Case Study Properties
From New York to Beverly Hills, our retail portfolio comprises investments in the nation’s most iconic urban markets that cater to national and global brands.
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The particular investments identified and described on this website do not represent all of the investments purchased, sold, advised by or recommended by ASB Capital Management, LLC, or any of its successors or affiliates. The reader should not assume an investment in the assets identified was or will be profitable. There can be no assurance that other investments purchased, sold, advised by or recommended by ASB Capital Management, LLC, or any of their successors or affiliates or officers, employees or directors will have characteristics or results similar to those identified on this website. A complete list of investments is available upon request.
The information made available to you through this website does not constitute an offer to provide investment advisory services or an offer to sell or a solicitation of an offer to purchase interests in any fund sponsored or advised by ASB Capital Management, LLC, or any of its successors or affiliates. Any such offer or solicitation for interests in a fund sponsored or advised by ASB Capital Management, LLC or any of their successors or affiliates will be made only through a private offering pursuant to a confidential offering memorandum and related subscription documents. This website does not purport to be all-inclusive and does not contain all material information that a prospective investor may desire when contemplating making an investment.
Office Case Studies
Office Case Study Properties
We invest in high-quality, 21st-century tenant-centric office assets that facilitate creativity and collaboration in high-barrer urban markets.
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The particular investments identified and described on this website do not represent all of the investments purchased, sold, advised by or recommended by ASB Capital Management, LLC, or any of its successors or affiliates. The reader should not assume an investment in the assets identified was or will be profitable. There can be no assurance that other investments purchased, sold, advised by or recommended by ASB Capital Management, LLC, or any of their successors or affiliates or officers, employees or directors will have characteristics or results similar to those identified on this website. A complete list of investments is available upon request.
The information made available to you through this website does not constitute an offer to provide investment advisory services or an offer to sell or a solicitation of an offer to purchase interests in any fund sponsored or advised by ASB Capital Management, LLC, or any of its successors or affiliates. Any such offer or solicitation for interests in a fund sponsored or advised by ASB Capital Management, LLC or any of their successors or affiliates will be made only through a private offering pursuant to a confidential offering memorandum and related subscription documents. This website does not purport to be all-inclusive and does not contain all material information that a prospective investor may desire when contemplating making an investment.
Senior Leadership
ASB’s core senior leadership has worked closely together for more than 15 years. The firm has enjoyed two decades of stable ownership by a private, well-capitalized parent that supports ASB’s independence and focus.
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See Important Disclosures regarding professional designations held by ASB employees.
Investments
Tenant-Centric Analysis in Portfolio Construction
When evaluating investments, the tenant perspective is central to ASB’s investment thesis and analysis. Across all real estate sectors, paradigm shifts have altered the way we live, work, and shop. The investment team at ASB seeks to identify outstanding real estate investments that are well-positioned to meet the demands of tenants in today’s dynamic market.
We seek to make investments in submarkets exhibiting attractive economic and population growth that promise to support strong income durability, lower volatility, and long-term NOI growth which drives attractive investment performance over a full market cycle.
Case Study Properties
Our investments are located in vibrant, high-demand markets where our tenants want to be.
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The particular investments identified and described on this website do not represent all of the investments purchased, sold, advised by or recommended by ASB Capital Management LLC, or any of its successors or affiliates. The reader should not assume an investment in the assets identified was or will be profitable. There can be no assurance that other investments purchased, sold, advised by or recommended by ASB Capital Management LLC, or any of their successors or affiliates or officers, employees or directors will have characteristics or results similar to those identified on this website. A complete list of investments is available upon request.
The information made available to you through this website does not constitute an offer to provide investment advisory services or an offer to sell or a solicitation of an offer to purchase interests in any fund sponsored or advised by ASB Capital Management LLC, or any of its successors or affiliates. Any such offer or solicitation for interests in a fund sponsored or advised by ASB Capital Management LLC or any of their successors or affiliates will be made only through a private offering pursuant to a confidential offering memorandum and related subscription documents. This website does not purport to be all-inclusive and does not contain all material information that a prospective investor may desire when contemplating making an investment.
Portfolio Gallery
ASB’s investments comprise 71 assets in high-demand markets representing $6.2 billion in value. Below are a few of our representative properties.
The portfolio investments described herein are not representative of all ASB portfolio investments. A complete list of ASB’s current portfolio investments is available upon request.
Careers_Old
ASB has built success around talented, hard-working individuals who collaborate to gain a broad and integrated understanding of real estate disciplines to deliver attractive risk-adjusted returns.
Our team members gain full-spectrum expertise in underwriting, acquisitions, dispositions, asset management, leasing, valuations, budgeting, business planning, and strategy formulation. We encourage a culture of collaboration, and all members of our team engage in offering their points of view on major decisions in an extremely inclusive management process. ASB promotes diversity and equality within all facets of our organization and fosters an environment that recognizes employees’ unique skillsets and ensures that all employees have an equal opportunity to grow and advance.
What’s more, all of ASB’s professionals receive competitive compensation packages and are offered upside based on performance.
View Our Current Job Postings
Welcome to our job portal. Here, you may apply for open positions or submit your resume to our resume bank.
Our Mission & Core Values
Our steadfast mission is to generate outstanding risk-adjusted investment performance for our investors so that their beneficiaries and retirees can secure life-long financial independence and peace of mind.
Perseverance
Our people have the passion, resilience, and determination to achieve long-term excellence.
Focus
Our people strive to prioritize their responsibilities and maintain their clarity of purpose to accomplish our mission.
Accountability
We take responsibility for our actions and hold ourselves accountable for our results.
Empathy
We are committed to our people and their professional and personal development and engaging all voices to unearth creative solutions that will drive performance.
Social Responsibility
We are committed to making a positive, impactful change to improve the community we serve.
About ASB
ASB Real Estate Investments is a leading real estate investment management firm with a focus on high-demand U.S. markets.
ASB Real Estate Investments, a division of ASB Capital Management LLC, is a leading U.S. real estate investment management firm with $6.2 billion* in gross assets under management from over 300 institutional clients. Headquartered in the Washington, D.C. area, ASB invests in major markets across the United States, concentrating in industrial, multifamily, self-storage, retail, and office properties.
Key Facts*
$6.2 BILLION GROSS AUM
300+ INSTITUTIONAL CLIENTS
71 ASSETS
28 MILLION SQUARE FEET
*as of December 31, 2024
Tenant-Centric Analysis in Portfolio Construction
When evaluating investments, the tenant perspective is central to ASB’s investment thesis and analysis. Across all real estate sectors, paradigm shifts have altered the way we live, work, and shop. The investment team at ASB seeks to identify outstanding real estate investments that are well-positioned to meet the demands of tenants in today’s dynamic market.
ASB's Differentiators
We invest in exceptional assets located in dynamic markets where our tenants want to be.
Performance Comes First
Our investment professionals are guided by the firm’s steadfast fiduciary mission to generate superior risk-adjusted investment performance for our institutional clients and their beneficiaries.
Extensive Market Expertise
Our teams identify investment opportunities in high-demand U.S. markets, seeking assets which can generate above-inflation income growth and attractive long-term appreciation.
Tenant-Centric Investing
Our investment methodology is driven by understanding and anticipating the motivations and requirements of tenants. We focus on assets with specific competitive advantages that are well-suited to meet tenants’ needs.
Accountability and Continuity
Each investment team is responsible and held accountable for asset performance results through its entire holding period from acquisition, strategic planning, asset management, and leasing to eventual disposition.
No Competing Mandates
We manage a limited number of real estate investment products with clear, compelling strategies and no competing mandates.
Commitment to the Community
We are dedicated to making the places we invest in better – actively seeking opportunities to generate positive social and environmental impacts, and committed to sustainability initiatives.
Our History
ASB Capital Management was founded in 1983 as an independent subsidiary of American Security Bank, one of the largest financial institutions in Washington, D.C.
ASB Capital Management is founded.
ASB forms its core, open-end investment vehicle.
ASB is acquired by Chevy Chase Bank as an independent subsidiary joining the B.F. Saul family of companies
Robert Bellinger, CFA, joins ASB Capital Management to lead its real estate group. ASB’s core, open-end investment vehicle assets under management totals $150 million.
ASB’s core, open-end investment vehicle assets under management totals over $1 billion.
As the U.S. economy starts its recovery, ASB launches its first value-add investment vehicle.
ASB’s core, open-end investment vehicle is admitted to the NFI-ODCE.
ASB’s core, open-end investment vehicle is restructured to a Limited Partnership/REIT allowing endowments, foundations, and offshore institutions to invest in the core real estate investment strategy.
ASB commits to fostering and encouraging staff to give back to their communities.
Following the successful realization of its first value-add investment vehicle, ASB launches a second value-add vehicle.
ASB’s core, open-end investment vehicle celebrates its 35th anniversary.
Team
ASB's investment strategies are executed by a team of professionals with diverse perspectives and disciplines.
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Strategies
Our mission is to generate superior risk-adjusted investment performance through proven real estate investment strategies.
ASB professionals have the expertise to make real estate investments successfully along the entire risk spectrum from ground-up developments to stabilized, income-producing assets. In order to minimize investment conflicts, the firm manages a select set of three investment products with exclusive, focused mandates spanning core, value creation, and development vehicles.
David Quigley
Chief Investment Officer, Capital Investments
Core
ASB has one core, open-end investment strategy. The Fund’s strategy is to deliver superior investment performance through long-term NOI growth by assembling a portfolio of high-quality assets with unique and enduring competitive advantages that attract tenants. The strategy is focused on building a diversified portfolio of investments in high-demand U.S. markets.
Value Creation
ASB has a series of low-leverage, closed-end, value-creation investment strategies. They are focused on investment opportunities which can offer compelling risk-adjusted returns achieved through compelling acquisitions and then implementing intensive asset management strategies, which can enhance value through strategic asset management initiatives including leasing, repositioning and/or redevelopment.
Development
ASB also has experience investing in ground-up development opportunities in major markets. Upon stabilization, investments may be monetized or maintained depending on the underlying investment priorities.
News & Views
News Stories
The portfolio investments described herein are not representative of all ASB portfolio investments. A complete list of ASB’s current portfolio investments is available upon request.