Unico Properties

Unico Properties LLC is an American private equity real estate investment and development company headquartered in Seattle, Washington. The company traces its origins to 1953, when Roger L. Stevens, Alfred R. Glancy Jr., Ben Tobin, and H. Adams Ashforth were selected by the University of Washington to manage and develop a 10-acre site in downtown Seattle. The business was originally known as University Properties Inc and later adopted the Unico Properties name. The company’s activities center on acquiring, developing, operating, and managing commercial real estate. Its geographic emphasis has been the Northwestern and Western United States, although its portfolio has also included assets in other American markets. Unico’s business model combines real estate investment with asset and property management, allowing it to participate in the ownership and long-term operation of office and other commercial properties rather than functioning solely as a developer or broker. Unico has been associated with a number of prominent Seattle buildings and developments, including Rainier Tower, Puget Sound Plaza, the IBM Building, Financial Center, One Union Square, and Two Union Square. These projects reflect the company’s historical role in the development of downtown Seattle’s commercial skyline. Its portfolio has also expanded beyond the Pacific Northwest. In September 2018, Unico purchased One Nashville Place in Nashville, Tennessee, demonstrating an extension of its investment activity into the southeastern United States. Wikipedia reported that, as of September 2018, Unico managed a real estate portfolio valued at approximately $4.3 billion and representing about 18 million square feet of space. Those figures describe the company’s reported portfolio at that point in time and should not be treated as current financial results. No current public listing, ticker, revenue figure, or official corporate website is identified in the supplied reference material. Unico is best understood as a privately held institutional real estate platform with a regional heritage and a portfolio spanning investment, development, and property operations. Its public identity is closely connected to Seattle commercial real estate, while its acquisitions indicate a broader strategy of investing in selected markets across the United States.

Unico Properties began in 1953 under the name University Properties Inc. Its founding followed a selection by the University of Washington of Roger L. Stevens, Alfred R. Glancy Jr., Ben Tobin, and H. Adams Ashforth to manage and develop a 10-acre tract in downtown Seattle. The assignment established the company’s long-term connection with Seattle’s urban commercial development and provided the foundation for its later investment and property-management activities. Over time, the company developed and became associated with several significant Seattle commercial properties. Its reported projects and holdings have included Rainier Tower, Puget Sound Plaza, the IBM Building, Financial Center, One Union Square, and Two Union Square. Collectively, these properties illustrate the company’s participation in the growth and modernization of downtown Seattle’s office district. The business later operated as Unico Properties LLC and broadened its role from project development into a wider real estate platform encompassing investment, ownership, development, and management. Its stated geographic emphasis has been the Northwestern and Western United States. The company has nevertheless pursued investments outside those core regions when opportunities aligned with its portfolio strategy. A notable example was the September 2018 acquisition of One Nashville Place in Nashville, Tennessee. The property was purchased for $139.5 million according to the supplied reference material. This transaction showed that Unico’s investment activities were not limited to the Pacific Northwest and could include selected assets in other U.S. metropolitan markets. As of September 2018, Wikipedia reported that Unico managed a real estate portfolio of approximately $4.3 billion, covering about 18 million square feet. These are historical portfolio measurements rather than current financial disclosures. Because Unico is privately held and the supplied material does not identify a current official website, public filings, current executives, or later corporate developments, the available public record supports only a limited account of its subsequent history.

• 2018

  Reported portfolio reached $4.3 billion

  [1]Unico Propertiesen.wikipedia.org

  As of September 2018, the company was reported to manage approximately $4.3 billion in real estate representing about 18 million square feet.

• 2018

  Acquisition of One Nashville Place

  [1]Unico Propertiesen.wikipedia.org

  Unico purchased One Nashville Place in Nashville, Tennessee, for a reported $139.5 million.

• 1953

  Company founded as University Properties Inc

  [1]Unico Propertiesen.wikipedia.org

  Roger L. Stevens, Alfred R. Glancy Jr., Ben Tobin, and H. Adams Ashforth founded the business after being selected by the University of Washington to manage and develop a downtown Seattle site.

A privately held, Seattle-rooted real estate investment and development platform focused on commercial properties and long-term portfolio operations in the Northwestern and Western United States.

• Real estate investment

  Commercial real estate investment and ownership

  Unico invests in and owns commercial real estate, with a historical concentration in the Northwestern and Western United States. Its portfolio has included major office properties in Seattle as well as assets in other U.S. markets.

• Property development · 1953

  Real estate development

  The company’s origins are tied to the management and development of a downtown Seattle site. It has subsequently been associated with prominent Seattle projects including Rainier Tower, Puget Sound Plaza, Financial Center, One Union Square, and Two Union Square.

• Real estate services

  Property and asset management

  Unico manages commercial real estate assets and properties as part of its integrated investment platform. The company reported managing a portfolio of approximately 18 million square feet as of September 2018.

• 2018

  Purchase of One Nashville PlaceM&A

  Background

  Unico pursued an investment outside its core Northwestern and Western U.S. markets by acquiring a commercial property in Nashville, Tennessee.

  Action taken

  The company purchased One Nashville Place for a reported $139.5 million in September 2018.

  Aftermath

  The acquisition expanded Unico’s identified property portfolio into Nashville. The supplied sources do not provide later operating results or strategic commentary about the asset.

  Purchase price. $139.5 million (September 2018)

  Source

1. 1Unico Propertiesen.wikipedia.org