Accesso Partners LLC, formerly known as Beacon Investment Properties, was founded in 2003 as a full-service commercial real estate company sponsoring investment funds and, through our affiliate Accesso Services provides property management services to the properties in our portfolio.
Since our inception, we have adapted a flexible investment philosophy to various market conditions and acquisition opportunities and have delivered significant return to our individual and institutional investors from the United States and abroad.
Starting with properties in the Southeast and Texas, we have expanded prudently, and in the past 14 months, have acquired stable-cash flowing and value-add office buildings and towers in the Midwest, Upper Midwest and the Rocky Mountains. Among our acquisitions in 2013 was the 57-story, 1.4 million- square foot IDS Center, a Philip Johnson designed architectural landmark in the heart of Minneapolis and the tallest building in Minnesota.
Our financial performance and our reputation for smooth, swift transactions, have given us immediate access to capital in the U.S and overseas. We constantly watch the markets for acquisition opportunities and are presented with properties on an off-market, first look basis by the nation’s largest commercial real estate brokerages. If an attractive opportunity meets our investment criteria, and is favorably priced well below replacement costs, we have the ability to analyze, finance, and quickly capture the significant upside of that transaction. As a company, we are agile, nimble, and are not bogged down by bureaucracy.
For example, when the market was on solid ground from 2004 through 2007, we engaged in value-added, repositioning opportunities. We bought troubled properties with strong upside potential that we could—and did—re-energize and transform into to financial performers. When recession fears began to emerge in 2007, we switched from value-creation properties to stabilized cash-flowing properties with long-term leases and unusually high cap rates.
We moved mostly out of our home market of Florida, which was very dependent on construction, and entered into markets in Texas that were more concerned with the resilience of dynamic industries and strong employment fundamentals. As the economy began to stabilize, we started buying Florida assets again and also began investing in value creation properties. We have since ventured into other markets where we see great evidence of strong macro performance and complimentary micro variables.
Our investor portfolios currently own and manage over 9.5 million square feet of top tier commercial real estate. This year, staying on course and pursuing our proven investment strategy of remaining proactive and flexible, we expect to continue to capitalize on the opportunities in our pipeline and grow, conservatively, by 30 to 40 percent.