When did PN Eklund Interests get started?
We started in 1984. The idea was that we would organize an asset management company that would utilize all of the real estate and finance skills and resources I had gained over the years without having to invest capital in real estate properties. Q: This was a way of starting at square one without the preliminary investments? A: Yes. Essentially the role of an asset manager is that of an absentee owner. The asset manager does all of the things that an owner would do. These involve such things as reviewing a commercial real estate property and deciding whether it’s worth buying, how and on what scale would the property accommodate tenants, would the property require remodeling or renovation, how would the property be financed, how would the property management be handled, how would the leasing be set up and conducted? All of these questions involve making decisions as if you were a de facto landlord. But in asset management we take care of all of these details for a fee and earnings run
