Type Private Headquarters Dallas, Texas, USA Founded 1999 | Industry Real Estate Area served United States | |
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Key people Bharat Sangani, M.D., Chairman
Patrick J. Barber, President & CEO
Charles Omage, General Counsel Products Development and Investment, Acquisitions, Brokerage, Capital Markets, Emerging Markets, Hotels, Retail Centers, Multifamily Communities, Office Buildings, Investment Management Healthcare, Project Management, Subsidiaries Encore Multi-Family, LLC | ||
Encore Enterprises, Inc. is an American diversified commercial real estate firm headquartered in Dallas, Texas formed in 1999. Since the company's formation, Encore has completed over $2.4 billion in total transactions in the hospitality, retail, office, multifamily and property management sectors. The company has approximately 1,000 employees. Encore provides turn-key solutions for commercial real estate development and acquisitions, as well as complete project management services for investors and joint-venture partners.
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History
Encore Enterprises, Inc. was established in 1999 as a diversified commercial real estate firm. The company develops and redevelops mixed-use complexes, limited and full-service hotels, multifamily communities, retail centers and office buildings.
Originally headquartered in Gulfport, Mississippi, Encore was founded by Dr. Bharat Sangani, and Patrick J. Barber to bring multiple real estate entities created by Dr. Sangani under one umbrella holding company. In 2006, Hurricane Katrina crippled the Gulf Coast area along Louisiana, Mississippi, Alabama, and Florida. After the storm, Encore was one of the first companies back up and running with IT operations for the company's then portfolio of hotels and retail centers continuing acquisitions of new properties. In 2006, Encore began to relocate its headquarters to Dallas, Texas where the company resides today in Pinnacle Tower. In 2016, Encore partnered with New York Life Insurance and purchased Pinnacle Tower, a 24-story, multi-tenant office building located at LBJ Freeway and North Dallas Tollway, adjacent to the Galleria Mall. Encore still maintains a regional headquarters in Gulfport, Mississippi for its Encore Construction Group.
In 2007, Encore sold the majority of its hotel real estate portfolio to institutional buyers. Looking ahead, in 2008 Encore created Encore Retail, LLC and Encore Multi-Family, LLC to diversify operations into multiple asset classes providing the company and investors with greater stability against geography and market cycles. As of 2016, Encore has completed over 100 transactions totaling $2.4 billion.
Over the past decade, Encore Enterprises, Inc. has grown from an hospitality focused firm to a diversified corporation focusing on five real estate sectors: hotels, retail, multifamily, restaurants and office. In 2016, Encore Retail, LLC and Encore Office, LLC merged to form Encore Commercial, LLC.
Divisions and Affiliates
Encore has diversified operations under multiple, wholly owned subsidiaries, each focused on different types of commercial real estate. The following is an overview of each of the Encore subsidiaries:
Encore Hospitality
Encore Hospitality, LLC is an acquisition, development, and asset management company focusing on the upper mid-priced, branded select-service and full-service hotel sector.
Encore Commercial
Encore Commercial, LLC focuses on the acquisition, ownership, development, redevelopment, and asset management of retail and Class A commercial office buildings across the United States.
Encore Multi-Family
Encore Multi-Family, LLC, founded in 2008, is a full-scale multi-family developer. The company’s capabilities include multifamily developments and acquisitions, including ground-up developments, value-added acquisitions, joint ventures, mixed use, and urban infill communities.
Encore Equities
Encore Equities Management, LLC manages the funding of offerings for the various real estate value-added and opportunistic (development) opportunities.
Encore Equity consists of three capital raising platforms:
(1) High Net Worth - Sources equity capital from high net worth individuals and family offices.
(2) Encore Global - Raises capital through foreign nationals focused on EB-5 investment.
(3) Institutional Capital – Raises institutional equity.
Services
Encore develops, acquires, owns and operates hospitality, retail centers, multifamily communities and office developments.