{"id":1004123225,"date":"2015-07-14T04:43:57","date_gmt":"2015-07-14T12:43:57","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=355087"},"modified":"2022-12-08T19:39:22","modified_gmt":"2022-12-09T03:39:22","slug":"qa-with-ambrose-property-group-executive-team","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/qa-with-ambrose-property-group-executive-team\/","title":{"rendered":"Q&amp;A with Ambrose Property Group Executive Team"},"content":{"rendered":"<p><em>By Adriana Pop, Associate Editor <\/em><\/p>\n<div id=\"attachment_355121\" class=\"wp-caption alignright\" style=\"width: 209px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Aasif-M.-Bade-President-of-Ambrose-Property-Group2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-355121\" title=\"Aasif M. Bade, President of Ambrose Property Group\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Aasif-M.-Bade-President-of-Ambrose-Property-Group2.jpg\" alt=\"Aasif M. Bade, President of Ambrose Property Group\" width=\"199\" height=\"300\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Aasif M. Bade, President of Ambrose Property Group<\/p>\n<\/div>\n<p>Ambrose Property Group is a full-service commercial real estate firm based in Indianapolis. The company\u2019s experience includes office, health care, industrial, and retail projects. Most recently, Ambrose closed on the sale of the revived <a title=\"Resurgent Office Tower in Indianapolis Draws New Jersey Investor\" href=\"https:\/\/www.commercialsearch.com\/news\/cities\/indianapolis\/resurgent-office-tower-in-indianapolis-draws-new-jersey-investor\/1004122393.html\">Landmark Center<\/a> in downtown Indianapolis, which it bought out of receivership in 2013. CPE discussed some of the strategies behind this sale and general real estate trends for the Indianapolis market with\u00a0Ambrose Property Group&#8217;s executive team.<\/p>\n<p><strong>Q: This is quite a success story. Can you tell us more about the Landmark Center project?<\/strong><\/p>\n<p><strong>A:<\/strong> This particular project certainly required an \u201call hands on deck\u201d approach, which included the collaborative efforts of an external brokerage firm and our internal asset management team.\u00a0 We\u2019re especially grateful for the assistance and support of John Vandenbark and the entire CBRE group here in the Indianapolis.<\/p>\n<p><strong>Q: You founded this company around the time of the Great Recession. What were your strategies, challenges and sources of inspiration? <\/strong><\/p>\n<div id=\"attachment_355123\" class=\"wp-caption alignleft\" style=\"width: 209px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Patrick-M.-Chittenden-Vice-President-of-Ambrose-Property-Group3.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-355123 \" title=\"Patrick M. Chittenden, Vice President of Ambrose Property Group\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Patrick-M.-Chittenden-Vice-President-of-Ambrose-Property-Group3.jpg\" alt=\"Patrick M. Chittenden, Vice President of Ambrose Property Group\" width=\"199\" height=\"300\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Patrick M. Chittenden, Vice President of Ambrose Property Group<\/p>\n<\/div>\n<p><strong>A:<\/strong> The establishing of Ambrose Property Group was certainly strategic in terms of both timing and corporate structure.\u00a0 We had nowhere to go but up, gaining a foothold by embracing a boutique style of commercial real estate.<\/p>\n<p><strong>Q: What types of assets do you typically focus on? <\/strong><\/p>\n<p><strong>A:<\/strong> Distressed office properties and creative land acquisitions will serve as the primary cornerstones upon which we will heavily invest our time and resources.<\/p>\n<p><strong>Q: You have invested in the revitalization of the century-old, 15-story <a title=\"Retrofitted Historic Building in Downtown Indianapolis to Bring Hotel, Apartments\" href=\"https:\/\/www.commercialsearch.com\/news\/cities\/indianapolis\/retrofitted-historic-building-in-downtown-indianapolis-to-bring-hotel-apartments\/1004104138.html\">Consolidated Building<\/a> in downtown Indianapolis. When <\/strong><strong>you acquired the property in 2012<\/strong><strong>, you were planning to turn it into 98 apartments. How is this project coming along? <\/strong><\/p>\n<div id=\"attachment_355124\" class=\"wp-caption alignright\" style=\"width: 209px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Ryan-M.-Jones-Chief-Administrative-Officer-of-Ambrose-Property-Group1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-355124\" title=\"Ryan M. Jones, Chief Administrative Officer of Ambrose Property Group\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Ryan-M.-Jones-Chief-Administrative-Officer-of-Ambrose-Property-Group1.jpg\" alt=\"Ryan M. Jones, Chief Administrative Officer of Ambrose Property Group\" width=\"199\" height=\"300\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Ryan M. Jones, Chief Administrative Officer of Ambrose Property Group<\/p>\n<\/div>\n<p><strong>A:<\/strong> Though we are no longer a partner in this project, we are certainly impressed with the terrific work of TWG Development as it relates to this carefully restored site.<\/p>\n<p><strong>Q: You also purchased 85 acres of land near the Indianapolis International Airport for your upcoming <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/cities\/indianapolis\/ambrose-property-plans-90m-distribution-center-in-plainfield-2\/1004105030.html\"><strong>Plainfield Logistics Center<\/strong><\/a><strong>. Can you tell us more about this project? Do you think the industrial market is strong enough for speculative developments in this area? \u00a0<\/strong><\/p>\n<p><strong>A:<\/strong> The continued strength of the industrial marketplace reaffirms our recent purchase decision.<\/p>\n<p><strong>Q: What trends do you see in the Indianapolis multifamily and office real estate market, in general? <\/strong><\/p>\n<p><strong>A:<\/strong> Though we\u2019re not significantly involved within the multifamily space, we anticipate that it will remain healthy.\u00a0 Regarding the office arena, we\u2019re forecasting a resilient uptake in terms of downtown workplaces, as the residential markets continue to gravitate toward Monument Circle.<\/p>\n<p><strong>Q: What are the company\u2019s future plans?<\/strong><\/p>\n<p><strong>A:<\/strong> In our business, the only predictable aspect is change itself.\u00a0 As Ambrose continues to evolve, we remain incredibly optimistic regarding our company\u2019s future, as well as its contributions to the surrounding community.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CPE discussed some sale strategies and general real estate trends for the Indianapolis market with Ambrose Property Group&#8217;s executive team.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1590,21742],"tags":[],"class_list":["post-1004123225","post","type-post","status-publish","format-standard","hentry","category-indianapolis","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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