Clifton-based Value Cos.’ third-party management business, Value Asset Management, on Tuesday said it recently expanded its management portfolio with the addition of Fox Run Apartments in Ledyard, Connecticut.
This marks the first Connecticut property in its portfolio.
The ownership group of Fox Run Apartments brought on VAM to oversee asset management, leasing, maintenance, marketing and administration for this 172-unit property. Working on repositioning the community by developing a three-year capital improvements plan, VAM introduced an apartment rehabilitation program and rebranded the property website.
“With decades of industry expertise under our belt, we pride ourselves on delivering unmatched service to our clients and their residents. 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 Cos.,” Matt Mirman, executive vice president of Value Cos., said.
VAM’s addition of Fox Run Apartments to its portfolio comes just as VAM celebrates the one-year anniversary of its management of 66 Main Street Lofts, a 176-unit luxury property featuring studio-, one- and two-bedroom apartments in the heart of New York’s Yonkers’ downtown waterfront district.
Brought on to improve tenant satisfaction/retention and increase the value for the ownership group, VAM implemented start-of-the-art property management processes and systems; streamlined operations for enhanced efficiency; and is currently in the process of an extensive property rehabilitation program.
“VAM’s commitment to excellence in property management is unwavering,” Eric Wolf, partner, 66 Main Street Lofts, said. “These initiatives demonstrate VAM’s dedication to providing the best living experience for our tenants while also maximizing future value for our stakeholders.”
Value Cos.’ management affiliates, Value Realty Inc. and VAM, own or manage over 3,500 units across 17 communities in three states. While the company has grown into new markets, Value Cos. remains equally as focused on growing its business in New Jersey. Value Cos. is currently developing new residences at its Gateways at Randolph property in Morris County and always expanding its management portfolio across the state.
