Who We Are

Our History

Originally founded in 1981 as Park Central Management, Inc, ITEX Property Management merged with Park Central Management, Inc in 2002 when K.T. “Ike” Akbari acquired the company. Mr. Akbari had joined Park Central Management in 1986. He worked his way through the ranks and became the Vice President in charge of Property Supervision in 1992.

He used his experience with Park Central Management to acquire the company in 2002. Since 2002, ITEX Property Management and The ITEX Group has grown to a portfolio that now manages over 43 properties and 5,496 units. Using our design, build, and management values we have assembled a core of quality employees that optimize the properties of our partners and owners.

Our Mission

To be a good corporate citizen and industry leader in developing, constructing, and managing best in class real estate investments. By implementing socially responsible business practices, we increase value and create an environment where our internal and external stakeholders thrive.

Our Vision

To be the preeminent real-estate development, construction management and investment organization maximizing shareholder value in a socially responsible manner.

Our Core Values

Dedicated to each value to help us become best in development, construction, and management.

HONESTY/INTEGRITY

To conduct all business affairs with the highest of moral principles consistent with the core foundations established by our founder, Ike Akbari.

RESPECT

Dealing honestly and fairly with co-workers, tenants and management. Treating everyone with dignity and respect regardless of position or socio-economic status.

ACCOUNTABILITY

Taking personal responsibility for the services or assets for which you are accountable. Accepting the consequences of your decisions whether positive or negative.

STRIVE FOR EXCELLENCE THROUGH TEAMWORK AND INNOVATION

Working together across all functions to identify innovative solutions to make our processes more efficient.

LONG-TERM VISION

Committed to the long term outlook of the organization by focusing on the future. Avoid making decisions for short term gains which may impact the long term viability of the company.

WORK LIFE BALANCE

Supporting employees to take individual responsibility for their professional development and personal well being.

CUSTOMER FOCUS

Providing one-on-one attention to our tenants and customers (internal or external), taking the time to understand their personal needs and demonstrating the expertise to provide individualized solutions in a timely manner.

SOCIAL AND ENVIRONMENTAL RESPONSIBILITY

Differentiate ourselves from our competitors by:

  • Providing excellent supportive services and amenities to our tenants
  • Deconstructing older properties and replacing them with new “Green” communities
  • Being good community partners by maintaining our properties

Green Initiatives

Building Green.

The ITEX Group feels it is our responsibility to help protect the environment and reduce our carbon footprint. As an organization, we focus on creating environmentally-friendly opportunities. We have actively pushed for energy efficiency and carbon reduction.

Energy Efficient Steps:

  • Sub-metering utilities resulting in lower energy and water bills
  • Energy Star appliances
  • Low-flow faucets and toilets
  • 14.5 SEER HVAC and 85% or greater thermal efficient water heaters

Conservation

  • Low-flow showerheads and toilets to conserve water
  • Reduction of paper
  • “Green” cleaning products
  • Stormwater reuse
  • Recycling centers and recycling programs

“Green” Spaces:

  • 14.5 SEER HVAC systems
  • Routine replacement of air filters
  • Modern low-e windows
  • Thermal efficient doors
  • Modern CFL light bulbs
  • Green flooring materials

Our Pursuits

The ITEX Group pursues a broad range of real estate investments that offer risk-adjusted returns to our investors and clients. The key to ITEX’s success is a dedication to fair and equitable relationships with investors. The philosophy is simple, treat investor’s capital as our own and co-invest our capital in every transaction

Our Specialty

The ITEX Group specializes in development, investment, and management. ITEX provides a full range of services to its partners and owners. Our goal is to create value and maximize revenue for our partners. Services include investment analysis, property management, asset management, development, acquisitions/dispositions, construction supervision, leasing/marketing, accounting, and REO/Receivership.

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