The real estate wing of the Aleut Corp. recently launched a brokerage firm aimed at building economic opportunity and support for Alaska Native communities. Tayal Brokerage, which comes from the Unangam Tunuu word meaning “to buy,” went live in mid-October.
Aleut Real Estate manages properties separate from traditional lands owned by the Aleut Corp. that were acquired through the Alaska Native Claims Settlement Act, or ANCSA. The company was founded in 1996 and owns properties in Alaska and the lower 48, and is now expanding its services with the launch of Tayal.
Tayal is based in Anchorage and offers consulting and investment strategy services. They’re hiring with a preference for Aleut Corp. shareholders, who are mostly Unangax̂ with roots in the Aleutian and Pribilof Islands regions.
Mike Jenks leads Aleut Real Estate and Tayal Brokerage. He said the new firm is a great way to create job opportunities for shareholders.
“A brokerage is really a good way to get introduced into real estate: number one, make money, and then you learn about opportunities to invest,” he said. “A brokerage is a tool for innovation, profits and shareholder hire. We get to manage our own properties, too.”
Jenks said the properties Aleut Real Estate invests in are chosen carefully, with returns for shareholders kept top-of-mind. The same goes for the new firm.
“Tayal Brokerage is uniquely positioned as an Alaska Native-owned brokerage, and we’re going to deliver high quality commercial real estate services while reinvesting the profits directly into Alaska Native communities,” he said.
The Tayal team is small for now. Jenks wants to hire more employees, saying that while they aren’t looking exclusively for shareholder candidates, those who have real estate experience or interest get priority.
In September Aleut Real Estate purchased Huffman Commons in Anchorage, marking the group’s foray into retail properties. The commons were constructed in 2023 with Starbucks and liquor store Brown Jug as tenants.
Aleut Real Estate has historically invested in office spaces, but the demand for this type of property declined during the COVID-19 pandemic thanks to widespread work from home mandates. Jenks expects demand for office spaces to return eventually, but only on the higher end of the market.
“I do see offices rebounding within the next year, two years,” Jenks said. “I don’t think it is going to come back to where it was for the entire office sector: I think just the mid to high end is going to come back — that’s going to come roaring back.”
In the meantime, the Aleut Corp. itself is going through property changes: the corporation is in the process of leaving Aleut Plaza, which it will continue to own, and moving into Denali Towers in downtown Anchorage. A spokesperson for the company said the change is because the corporation outgrew the space.