M id A tlantic O wners , D evelopers & M anagers F eaturing R enovation /R estoration Retained to oversee management of Arlington Park Value Asset Management scores second Bergen County , New Jersey assignment Real Estate Journal — Section B
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“At communities such as Dorchester Manor, we’ve suc- cessfully formulated innova- tive, relevant and well-man- aged programs that address various market conditions. Our in-house capabilities, coupled with a focus on estab- lished apartment communities and wealth of experience in the marketplace, will enable us to customize a program that will raise the bar for Arlington Park’s management and leas- ing campaigns.” Value Cos. currently owns and manages a portfolio of 3,226 residential units across fifteen communities located throughout NJ, PA and NY. The firm has an outstand- ing track record in property management since 1952; and its proven experience and passion for excellence have established the company as one of the northeast’s leading real estate developers, owners and managers. “One key to our success has been an ability to grow and adapt to the ever-changing rental marketplace and ex- pand from traditional methods by employing innovative tech- niques to effectively market and manage our properties,” said Abramson. “This ability to understand the current rental landscape,
as well as our strong knowl- edge of local markets, has allowed us to achieve and maintain historically-high oc- cupancy levels at our commu- nities despite current economic conditions and challenges. Value Asset Management passes along this expertise and knowledge to outside property owners and develop- ers concerned with effective community operations, raising the bottom line and increasing profit margins.” Value Asset Management will offer a “hands on” ap- proach, staffing communities with the kind of multifamily professionals, leasing agents and maintenance personnel that have been instrumental in crafting Value’s sterling reputation for customer service and management efficiency, Abramson points out. As its corporate name sug- gests, Value Asset Manage- ment also, but not exclusively, specializes in value-add multi- family investments; properties where there are opportunities to redevelop, reposition, or generally improve the fixed assets, curb appeal, resident relations, maintenance opera- tions and other programs that make improving real estate an exercise in community build- ing and value creation. n
LIFTON, NJ — Value Companies, Inc. an- nounced that Value
Asset Management (VAM) has been retained to oversee the management of Arlington Park, formerly known as Ridge Park Apartments in the Ber- gen County Borough of North Arlington. VAM, a full-service division of Value Cos. which provides management capabilities and customized asset solutions to third-party real estate in- vestment and property owner clients, will immediately take HI-LIGHTS april 25 - May 15, 2014
Dorchester Manor
Sussex, NJ — Gary Co- hen , senior vice president/ senior director of North- Marq Capital’s New Jersey based regional office closed a $5,062,500 loan for the acqui- sition of Regency Apartments, a 100-unit multifamily prop- erty located in Sussex. The borrower worked with Cohen, to finance this transac- tion with a local bank. Financ- ing was based on a 12-year term and 30-year amortization schedule at a very attractive 3.6% interest rate. “This was the fourth ac- quisition loan in the past six months between the borrower and lender,” said Cohen. n over leasing, operations and marketing efforts at the 234 garden-style home community located at 20-B Ridge Park Dr. Arlington Parkwill be VAM’s second assignment in Ber- gen County. The company”s successful turnaround and lease up of the 200-apartment Dorchester Manor community at 195 Dilworth Rd. in New Milford drew the attention of the owners of Arlington Park who cited VAM’s high stan- dards, well-respected track re- cord and proven ability to turn- around existing apartment complexes such as Dorchester Manor as the major reasons for selecting the Clifton-based
company. “Our decision to hire Value Cos. was an easy one,” said Arthur R. Kramer, one of the managing partners of Dorches- ter Manor. “They have made such a great contribution to the growth of our property with their first class team. We feel fortunate to have them as partners.” “We have a unique insight into the Bergen County market having developed and man- aged award-winning new home and existing apartment com- munities throughout the area,” added Andrew Abramson , CEO and president of the Clif- ton based Value Companies.
Featuring Renovation/ Restoration
Prestige Group sells apartments for $1.8 million 5-9B
Gary Cohen of NorthMarq Capital finalizes $5.06m acquisition for the Regency Apartments
4B
Liberty Property Trust Nears completion of $2.8 Million Renovation
6B
www.marejournal.com ALSO INSIDE Green Buildings........10-14B USGBC NJ........................10B NJAA................................15B IREM......................... 16-IBCB
Regency Apartments
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