Financial News
Phoenix American Onboards New Automated Parking System Fund Sponsor Parking Vault for Fund Administration
![](https://icrowdnewswire.com/wp-content/uploads/2022/12/icn294354-icnPhoenix20American2028129-1.png)
Phoenix American Financial Services (“Phoenix American”) is pleased to announce the onboarding of Delaware Statutory Trust (DST) fund sponsor Parking Vault for fund administration. Phoenix American will support Parking Vault with its industry-leading investor relations platform featuring the STAR-XMS, transfer agent system. Parking Vault will benefit from Phoenix American’s advanced technology, extensive experience with back-office administration for DST’s and focus on outstanding customer service.
Reinventing the Parking Industry One Garage at a Time
Parking Vault is a provider of advanced automated storage and retrieval systems for motor vehicles. The company addresses the challenge of vehicle parking in high-population areas with high density, multi-level automated parking systems that minimize parking time and maximize parking volume at a cost to users equivalent to traditional ramp parking structures. Parking Vault’s systems are able to park 168 cars in the same volume of space that a traditional ramp parking structure requires to park 100 cars while saving motorists the time of searching for a place to park. The $18 million Houston Block 97 DST seeks to provide 1031 exchange investors access to strong investment returns in the traditionally low-yielding parking lot real estate asset class.
“Phoenix American as our fund administrator is an ideal strategic partner,” said Cole McDowell, founder of Parking Vault. “Their ability to deliver an exceptional investor experience and the reporting we need enables us to concentrate on sales and asset performance.”
50 Years of Fund Administration for Alternative Investment Funds
Given increased regulation and investor expectations, deep operational experience with private equity and venture capital funds and advanced technology solutions are critical to the success of today’s fund sponsors. Phoenix American offers the most advanced systems and efficient fund administration processes in alternative investments, servicing all fund structures including DSTs. The company’s industry-leading STAR-XMS transfer agent system, its integrated fund accounting services and customized investor relations are the result of long experience as a fund sponsor combined with its decades of experience as a third-party administrator for alternative investment funds. A full range of back office services include fund accounting, transfer agent services, investor/advisor web portal, tax services, in-house printing and fulfillment as well as full back-office outsourcing.
“Parking Vault is a real innovator,” said Andrew Constantin, Chief Operating Officer at Phoenix American. “Their technology addresses a real need for efficiency and scalability in the urban parking space. Phoenix American shares that spirit of innovation in our technology and services for private funds. We look forward to working with Parking Vault.”
About Phoenix American
Phoenix American provides fund administration services, fund accounting, transfer agent services and full back-office outsourcing to private equity and venture capital fund sponsors. The Phoenix American aircraft group, including its Irish subsidiary, PAFS Ireland Limited, provides managing agent services for asset-backed securitizations (ABS) in the commercial aircraft and aircraft engine loan and leasing industries. The company is an affiliate of Phoenix American Incorporated along with Phoenix American SalesFocus Solutions. Phoenix American has five offices worldwide, was founded in 1972 and is headquartered in San Rafael, CA.
Contact Information:
Name: Nehemiah Martens
Email: nmartens@phxa.com
Job Title: Marketing Coordinator
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.