Commercial Real Estate Management

Pyramid Property Advisors

Aspen, Colorado

Management Portfolio

Additional Properties


At Pyramid Property Advisors we are constantly focused on operating at the highest level of principle and performance. Our track record of continued growth is based on exceptional service, integrity, and open communication. We aren’t afraid to roll up our sleeves and do what it takes to maintain the value of your property.


Pyramid Property Advisors manages over 125,000 square feet of commercial real estate. We are continuously involved with new construction projects from the level of planning and approval all the way to lease up. Whether in search of long-term financing for a large acquisition or advice on land use application, we have a greater depth of commercial real estate knowledge. Because our focus is on Aspen’s downtown core, we find off-market opportunities before the rest of the crowd.


Pyramid works with several insurance brokers to maintain the optimal policy on your property. We ensure all subcontractors are properly covered when working on your property.


Our team will manage your property’s receivables, payables, budgeting, and management of financial statements. We reconcile triple net budgets for each building on an annual basis and we work closely with your CPA to ensure that financial statements are prepared accurately and timely for annual tax preparation.


We apply strategic planning related to your asset’s position in the market. Our creative thinking helps to develop solutions for lease structure and co-tenancy. We conduct analysis of leasing opportunities based on specific criteria and goals with full exposure to the market.


Pyramid is responsible for the collection of rents and NNN expenses for all tenants. We work with tenants to ensure that rent is collected when due, and that late fees are assessed when necessary. We create relationships with tenants that foster long-term success and performance for your investment.


Our entire team maintains the Community Association Managers License. Pyramid manages commercial & residential building associations including: accounting, operations, maintenance, and conducts association meetings.


We are deeply involved with both the general cleaning and upkeep of your property, as well as the selection and management of subcontractors when any need arises. All bids and proposals are reviewed and discussed prior to implementing a plan of action. We consult with our property owners on any significant repairs or capital expenditures.

*All leasing for properties managed by Pyramid Property Advisors are provided through a licensed Colorado real estate broker. In most instances, leasing is conducted through Lex Tarumianz who is licensed and associated with Aspen Snowmass Sotheby’s International Realty.


Pyramid assists in the management and long-term planning of real estate assets, including development and redevelopment work and strategic repositioning of your property.  We have extensive experience and industry connections within Aspen’s real estate, development, and financial sectors.  We are working continuously in the local market and are able to identify market trends and opportunities ahead of the crowd.  


Pyramid conducts extensive research to provide a solid foundation from which property owners can make strategic decisions. We assess the risks and costs associated with repositioning of a property through re-tenanting, redevelopment, or re-entitlement.


Pyramid offers extensive services including: property valuations, operating and income analysis on individual properties and portfolios, and strategic direction on acquisitions and disposition. With our extensive connections in the market, we can also provide direction and resources for property tax protests, and 1031 exchange.


As an extension of Pyramid’s management and strategic planning expertise, we are able to execute on development projects with comprehensive management of a development team including: planning, financing, design consultants, and general contractor oversight.


At Pyramid we are in the continuous process of monitoring the market.  We welcome the opportunity to share our knowledge and best thinking on the current activity and opportunities available. Our analysis of the market is based on historical data, recent trends, and projections for future planning.

*All leasing for properties managed by Pyramid Property Advisors are provided through a licensed Colorado real estate broker. In most instances, leasing is conducted through Lex Tarumianz who is licensed and associated with Aspen Snowmass Sotheby’s International Realty.


At Pyramid Property Advisors we celebrate the highest level of principle. Our proven track record of continued growth is based on exceptional performance, integrity, and open communication. We aren’t afraid to roll up our sleeves and do what it takes to maintain the value of your property, whether owned or leased. We provide innovative and intuitive service that delivers superior results. If we’re not consistently exceeding client expectations, we’re not doing our job.

We live and work in Aspen. Our kids are growing up here. We’ve cherry-picked a robust team. We are immersed in the Aspen market and are passionate about sharing Aspen’s unique heritage and lifestyle. Because of our commercial real estate experience and focus on Aspen’s downtown core, we have insider access to top property investments.

Pyramid Property Advisors manages over 125,000 square feet of commercial real estate in Aspen, Snowmass, and Basalt. We currently have more than 20,000 square feet of new construction projects in various stages of approvals, planning, and construction. We are the most knowledgeable commercial real estate team in the Valley, offering expanded and superior services.



Years in Aspen:  20

Education:  BA in English, University of North Carolina at Chapel Hill

Professional Designations: CFA Charterholder

Areas of Expertise: Strategic Planning, Asset Management, Real Estate Finance

Obsessed With: Paddle Surfing, McDonald and Raynor Golf Courses, Nut Milks from Tonic Juicery


Lex Tarumianz is the President of Pyramid Property Advisors. Tarumianz oversees all of the operations of the company.

Prior to joining Pyramid, Tarumianz was a Vice President with US Bancorp in Aspen assisting the bank in the roles of Commercial Banking Relationship Manager and later as a Portfolio Manager in the Trust and Asset Management Division. Tarumianz helped to grow the loan portfolio of the bank and increased the presence of the bank in the Aspen community. He was a member of the Asset Management group’s Economic and Alternative Investment Work Groups.

Tarumianz started his career in Aspen in 1995 with Destination Hotels and Resorts (DHR) at The Gant Condominiums. While with DHR, Tarumianz was Regional Director of Revenue Management while also filling several roles at the property level including Revenue Manager and Director of Sales and Marketing. As a Regional Director, Tarumianz assisted properties in the Rocky Mountain region with revenue optimization strategies focused on flexible pricing, inventory controls, and increased use of electronic distribution channels.

Tarumianz is a member of the CFA (Chartered Financial Analyst) Society of Colorado. He currently serves on the Pitkin County Financial Advisory Board and previously served on the City of Aspen Budget Task Force in 2008. He is involved locally with Roaring Fork Leadership, The Aspen Art Museum, and The Aspen Country Day School.


Years in Aspen: 6

Education:  BSBA in Management and Real Estate from the University of Denver

Areas of Expertise: Contracts, Leasing, Property Management

Obsessed With: Sushi, Live Music, Tennis, and Hut Trips

Sarah Pegler joined Pyramid as a Property Manager in the fall of 2013. Sarah oversees bulding operations and maintenance.  Her primary duties incorporate all facets of property management including leasing, rent roll and account management, client relations, marketing and business development.

Graduating in 2006 from the Daniels College of Business at The University of Denver, Sarah was awarded a BSBA in Management, minoring in real estate.  Launching her career as a Defeasance Analyst at Capmark Financial, Sarah quickly progressed through the ranks to become Assistant Vice President of Capital Markets at the Denver, Colorado based firm.  Prior to joining Pyramid Property Advisors, Sarah was an Assistant Relationship Manager with US Bank, in Aspen, Colorado.  It was in this capacity that Sarah forged strong ties with the local business community, and gained valuable experience and insights into the workings of local economy and particularly the real estate markets.

Sarah is a 2016 Roaring Fork Leadership graduate.  She is currently studying to receive her CCIM designation.  Sarah holds a Community Association Manager license as well as a Colorado Real Estate license.  Sarah is an active member in the local community, volunteering regularly at local charity and community events including the Komen Aspen Race for the Cure, the Boogie’s Race Fun Run, the USA Pro Cycling Challenge, JAS Fest and the Aspen Institute.  Sarah is also a member of the Aspen Young Professionals Association. Sarah enjoys live music, and is passionate about the mountain lifestyle Aspen has to offer; in her free time you will likely see her hiking the local trails or hitting the slopes. Sarah is also a Notary Public.


Kris Smith has more than 25 years of experience in accounting for property management, construction, and other operating businesses. She was most recently a staff accountant with The Fleisher Company overseeing the accounting for over 25 commercial real estate properties and homeowner associations.  Kris manages the day-to-day accounting functions for Pyramid.  Kris’s duties include budgeting and forecasting, preparation of financial statements, payables and receivables, reconciliation of NNN budgets, and data prep for yearly taxes.  Kris ensures that all properties are covered with adequate and up to date insurance coverage as well as W-9 compliance.  Kris also assists the team with tenant and building maintenance issues and is a Notary Public.

Kris’s skills and experience are extensive and provide Pyramid the ability to manage both single owner and HOA properties as well as other activities including the management of under construction development property.

Kris is an active volunteer in the valley as an Aspen Snowmass Ski Ambassador.


TELEPHONE • 970 920 0101