Key takeaways
How Armco approaches Calgary office
- Have a plan B and a plan C. Armco does its homework on every asset up front, from repositioning to residential conversion, even if it never uses those options.
- Move with a sense of urgency. The longer a task sits, the less likely it gets done well. Armco’s flat structure lets it lease and decide quickly.
- Price is the ultimate amenity. Working with its property managers and service providers, Armco cut the common area costs tenants pay at one property by 10%.
- Challenge the status quo without being confrontational. Digging a little deeper into how things are done often turns up better results.
- Never close doors. Commercial real estate is a small industry, and Corbin credits his career to the relationships he has kept.
About the guest
CS
Corbin Staniloff
Asset Management, Armco Capital
Corbin handles asset management for Armco Capital’s Calgary office portfolio, which includes First Canadian Centre, Bow Valley Square, and Altius Centre. Before joining Armco, he worked in commercial real estate financing, hotel investment sales at Cushman & Wakefield and CBRE, and hotel development.
Episode summary
In this episode
Recorded on site at First Canadian Centre, this episode covers Armco Capital’s rapid expansion into downtown Calgary office space. Corbin explains why Armco is bullish on office, how it underwrites each deal, and what it might do with the foundation built for a second tower that was never finished.
He shares how he moved from commercial financing and hotel investment sales into asset management, and the Armoyan group attributes he works by, including a sense of urgency and challenging the status quo. He also explains how Armco works with its property managers to cut operating costs for tenants.
Corbin talks about occupancy goals, return to office, and residential conversions in Calgary’s core, then shares what he looks for in a janitorial partner and the book he recommends to asset and property managers.
Chapters
- 0:00Introduction
- 1:52Armco Capital’s story
- 3:56Why Armco is buying Calgary office
- 6:27The unbuilt second tower
- 7:45Corbin’s path into asset management
- 11:42The Armoyan attributes
- 15:05Company culture
- 17:40Working with property managers
- 20:15Trends and working from home
- 22:58Occupancy goals
- 24:37Residential conversions
- 28:32Advice for asset managers
- 29:27What Armco looks for in janitorial
- 31:10Dream property
- 32:26Book recommendation
- 33:21History of First Canadian Centre
Jump to a chapter (16)
- 0:00Introduction
- 1:52Armco Capital’s story
- 3:56Why Armco is buying Calgary office
- 6:27The unbuilt second tower
- 7:45Corbin’s path into asset management
- 11:42The Armoyan attributes
- 15:05Company culture
- 17:40Working with property managers
- 20:15Trends and working from home
- 22:58Occupancy goals
- 24:37Residential conversions
- 28:32Advice for asset managers
- 29:27What Armco looks for in janitorial
- 31:10Dream property
- 32:26Book recommendation
- 33:21History of First Canadian Centre
From the conversation
Transcript excerpts
We have a series of attributes at the Armoyan group of companies that I think are very valuable. One of them is sense of urgency.
Corbin StaniloffPlay from 0:18
All of the assets have to have another element whether that’s a plan B or a plan C.
Corbin StaniloffPlay from 5:39
It’s amazing how just common sense and… working hard… kind of gets you… in a solid position in the asset management role.
Corbin StaniloffPlay from 9:47
Want a lean, secure cleaning partner for your tower?
We’ll walk your building with you and send a written cleaning scope and price. Free, no obligation.
Read the conversation
Full episode transcript
Show transcript
Paste the edited transcript here.
FAQ
Questions about this episode
What does Armco look for in a janitorial company?
Trust and security come first, including how the company handles access cards and staffing. Corbin also looks for a lean operation without extra overhead, and a scope that makes sense for the building while still meeting tenant satisfaction.
Why is Armco Capital investing in downtown Calgary office space?
Armco is bullish on office and believes it will remain, even as work patterns shift. Its oil and gas relationships give it a unique view of the Calgary market, and it prepares backup plans for every asset it buys.
What book does Corbin recommend?
How to Win Friends and Influence People by Dale Carnegie. He calls it a book of fundamentals for dealing with people, which matters in a people business.
More episodes from the podcast
Adam Ludgate of Cirkuit: How Smart Sensors Are Changing Building Operations
Adam Ludgate of Cirkuit explains how wireless sensors catch water leaks within minutes, why insurers are starting to pay attention, and where older buildings should start.
Marty Connelly: 45 Years of Family, Integrity & Condo Management Leadership
Marty Connelly shares what 45 years of family-run condo management in Calgary taught him about responsiveness, hiring, and keeping a personal touch across 100+ properties.
Maria Bartolotti: Resilience, Leadership & Building One of Calgary’s Leading Condo Management Firms
Maria Bartolotti of New Concept Management on nearly leaving the industry, educating condo boards, preventing burnout, and recruiting Alberta’s next condo managers.