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VALUE ASSET MANAGEMENT COMPLETES TURNAROUND AT DORCHESTER MANOR IN BERGEN COUNTY, N.J.

Monday, November 22, 2010 / Value Companies

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CLIFTON, NJ – A rental community in the Bergen County, NJ Town of New Milford is now one of the most well-performing apartment complexes in the region thanks to the efforts of Value Asset Management (VAM), a division of Clifton, N.J. based Value Companies which provides full-service management capabilities and customized asset solutions to real estate investment and property owner clients.

Dorchester Manor, a rental community located at 195 Dilworth Road, is nearing a complete lease-up of its 200 apartment just three months after VAM was retained by the property’s owners to direct the management, leasing, operations and marketing. Dorchester Manor is a collection of one-and two-bedroom apartment homes situated in 18 buildings on a professionally-landscaped site, minutes from major shopping and commuter outlets.

What’s more, the company is also nearly finished with an aggressive $1 million capital improvement program that will modernize and significantly update the complex. Upgrades will include energy efficient insulated windows, apartment entry doors, new shutters, removal and installation of new landscaping, new roofs on select buildings and apartment renovations.

“While Dorchester Manor was well known in the region as a rental address and already a great asset, the owners of the property wanted a new set of eyes that could take the complex’s performance to the next level,” indicates Jack Linefsky, Director of Apartment Operations for Value Companies.

“To accomplish this, we incorporated certain aspects of traditional management with a more modern technique and a more technologically-advanced approach. The end result is an efficient and effective management operation, a high level of customer service and satisfaction and an increased leasing velocity and resident retention.”

Value Companies owns and manages its own portfolio of 3,800 residential units in New Jersey, Pennsylvania, New York, Texas and Florida. The firm has an outstanding 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 expand from traditional methods by employing innovative techniques to effectively market and manage our properties,” noted Mr. Linefsky. “For example, we recently implemented new user- and mobile-friendly property websites to provide excellent resident services, and streamline payment and maintenance requests.”

“This ability to understand the current rental landscape, as well as our strong knowledge of local markets, has allowed us to achieve and maintain historically-high occupancy levels at our communities despite current economic conditions and challenges. Value Asset Management passes along this expertise and knowledge to outside property owners and developers concerned with effective community operations, raising the bottom line and increasing profit margins.”

Value Asset Management will offer a “hands on” approach, 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, Mr. Linefsky points out.

As its corporate name suggests, Value Asset Management also, but not exclusively, specializes in value-add multifamily investments; properties where there are opportunities to redevelop, reposition, or generally improve the fixed assets, curb appeal, resident relations, maintenance operations and other programs that make improving real estate an exercise in community building and value creation.

Another added bonus is Value’s unique skill set that comes from developing, owning and managing a variety of properties, including large-scale suburban and urban sites and low-and mid-rise buildings. These include current rental properties such as 140 Mayhill, Ten Sampson, Arla, Crestview, Foxhall, Gateways at Randolph, Landra, Ralson, Saddle Brook and Valley View Apartments in New Jersey, Creek Village Apartments in Pennsylvania, Sutton Hill and The Point at Sutton Hill in Orange County, NY and Gateways at Centreport in Fort Worth, TX.

For more information on Value Companies’ third party property management services, please contact the company headquarters at 973-473-2800 or visit www.valuecompanies.com.

About Value Companies
Value Companies, founded in 1952, is a leading real estate development, investment and management company headquartered in Clifton, N.J. The company currently owns and manages a portfolio of 3,800 residential units located throughout New Jersey, Pennsylvania, New York, Texas and Florida.

Across its development division, Value Companies has embarked on $100 million in new apartment, condominium and mixed-use developments and investments in strategic suburban and urban locations throughout the country. Value’s development success is directly tied to its steadfast commitment and expertise in multifamily housing, and its ability to introduce new housing products that address consumer and community needs.

Value’s residential properties are built and managed by a highly-skilled, in-house management team of more than 80 industry professionals which oversee all aspects of Value’s communities, including construction, leasing, maintenance, property management and administration. Value’s third-party management business, Value Asset Management, provides full-service management capabilities and customized asset solutions to a growing list of third-party real estate investment and property owner clients.

For more information, please contact Andrew Abramson, President of Value Companies, at its corporate headquarters at 973-473-2800 or visit www.valuecompanies.com.



Published by : George Cahn
George M. Cahn
President
CAHN Communications
gcahn@cahncomm.com
www.cahncommunications.com This article has been viewed 1054 time(s).

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