Follow the money
Most economists agree that cash is king in today's credit-starved economy. Bainbridge Management has taken that concept one step further.
"We have a slogan around here as it relates to cash flow. We say, ‘Cash is not king. Cash is the dictator in this economy,'" said Kevin Sheehan, The Bainbridge Companies' president of property operations, who moved the firm's management headquarters last January to the place where that money is minted.
The Bainbridge Companies, a fully-integrated family of real estate companies that has developed, owned and managed commercial real estate and apartments for the past 16 years from its home base in Southern Florida, has chosen to plant the flag of its management division in the nation's capital because the District of Columbia and environs represent one of the few bright spots on the multifamily map today.
"This market continues to be stronger than most and is a great place to show off our strength," said Kevin Sheehan, who joined the company nearly 15 months ago and is spear-heading its foray into the third- party management business at a time when everything depends on operations and occupancy and cash flow is the lifeblood of success.
"Demand for apartments has continued to be steady, which I think is a favorable for the Washington, D.C., market, compared to other markets that have seen demand fall off. Washington has held up right through last
