Value Cos. tapped to manage Connecticut rental property, expanding out-of-state footprint

Value Companies is expanding its footprint in the region with a new management assignment at a 172-unit multifamily property in southeastern Connecticut.

Fox Run Apartments PergolaThe firm, which is based in Clifton, said it will oversee asset management, leasing, maintenance, marketing and administration at Fox Run Apartments at 5 Flintlock Road in Ledyard. That includes a plan to reposition the community by developing a three-year capital improvement strategy, introducing an apartment rehabilitation program and rebranding the property’s website.

The assignment is the first in Connecticut for Value Cos. and its Value Asset Management unit.

“With decades of industry expertise under our belt, we pride ourselves on delivering unmatched service to our clients and their residents,” said Matt Mirman, executive vice president of Value Cos. “Our deep understanding of the ever-evolving rental market, combined with years of ownership and management of properties, enables us to strategically navigate the market. As we expand our portfolio, our commitment remains steadfast in delivering the premium services that owners, developers and residents have come to rely on from Value Companies.”

VAM’s addition of Fox Run Apartments comes a year after it assumed management of 66 Main Street Lofts, a luxury 176-unit property with studio-, one-bedroom and two-bedroom apartments in the heart of Yonkers, New York’s downtown waterfront district, according to a news release. Brought on to improve tenant satisfaction and retention and increase the value for the ownership group, the firm implemented modern property management processes and systems and streamlined operations for enhanced efficiency, while it’s in the process of an extensive property rehabilitation program.

“VAM’s commitment to excellence in property management is unwavering,” said Eric Wolf, a partner with 66 Main Street Lofts. “These initiatives demonstrate VAM’s dedication to providing the best living experience for our tenants while also maximizing future value for our stakeholders.”

Value’s management affiliates, Value Realty Inc. and VAM, own or manage more than 3,500 units across 17 communities in three states. While testing new markets, it’s also growing in its home state with new development in Randolph and ongoing efforts to bolster its management portfolio.

By Joshua Burd, Real Estate NJ – View the original article on Real Estate NJ here.