Lee Hood, Centaurus' vice president of property management tells GlobeSt.com that occupancy in the loft project at 1409 S. Lamar St. is close to 90%, up from 80% when Centaurus took over management about a month ago. Hood says asset owner Matthews Southwest was willing to give Centaurus the management reins because "we were open to the way they wanted to manage their asset, versus us trying to cram our ways down on them."

Hood adds that she, or other Centaurus personnel, also show up at various South Side on Lamar functions on a regular basis. As the loft complex is home to many artists, functions and events are a regular part of the property. "I think the owners really appreciate our presence there," Hood comments.

Centaurus co-CEO John Griggs III says moving the company into property management seemed to be a positive next step. "We've been looking over our own assets for the past 3.5 years and have a strong suite of property management activities we do on our own portfolio, including marketing and accounting," Griggs tells GlobeSt.com. "It made sense to offer these services to owners at large."

Hood says Centaurus has three other property management deals in the pipeline, and the company is also talking to other owners and loan servicers. Though Houston and Dallas are the primary markets in which Centaurus operates from an investment capacity, the company could be examining potential third-party arrangements in Austin and San Antonio in the near future.

"I've operated in many, many markets," Hood explains. "That will help as we pursue new ventures with owners in other cities."

Griggs says Centaurus is growing organically, both in terms of acquisitions and third-party management. With the latter, he notes, the company has the capacity to expand by several thousand units.