The story of the steady rise of the Value Companies to its present position as a leading real estate development, management and investment firms is a reflection of its name. During a history that spans six decades, this Northern New Jersey-based firm has consistently added value to every aspect of its burgeoning operation.
“Business scale and integration have been key to our strong record of success,” notes Andrew Abramson, President and CEO of the family-run company founded by his father, Harold, in 1952. “Our multi-disciplinary team approach enables us to envision a broad range of real estate possibilities. Then, we have the in-house skills and experience to realize these possibilities. It is a philosophy that has stood us in good stead over the years.”
Harold Abramson began by focusing predominantly on building single-family homes in key suburban locations in the Garden State. In the 1960’s, he turned his attention to the multi-family sector and the development and acquisition of rental communities. His vision, insight and forward thinking resulted in an unprecedented expansion of business throughout New Jersey and well outside the state.
Today, the Value Companies boasts a portfolio of over 3,600 apartment homes in New Jersey, New York, Pennsylvania, and Texas- all of which the company built and still manages. The firm historically has been involved in a wide range of developmental activities – from traditional single family and luxury condominium communities to multi-family in-fill rental property development.
“We combine thoughtful design, efficient engineering, community-based planning, quality construction and sophisticated sales, leasing and marketing to achieve our self-imposed high standards of performance,” Andrew Abramson points out. “Our goal is to provide high-quality multifamily developments while minimizing risk and maximizing return on investment.”
Value has also kept a keen eye on development opportunities in its home state. Recent success stories include 140 Mayhill, an upscale rental community in New Jersey’s Bergen County Saddle Brook Township, which was completely leased up just nine months after opening in 2009.
In addition to its development initiatives, the company has found great success on the management front through its Value Asset Management (VAM) division, which provides fee-based management capabilities and customized asset solutions to third party real estate investments and property owners. VAM adds value by deploying an efficient operating platform, coupled with highly skilled personnel to maximize long-term investment potential of every client’s projects.
“For example, we have in-house roving renovation teams that do complete interior and exterior renovations-drawing on our experience as not just an owner and manager, but also from our deep history as builders and developers,” says Mr. Abramson. “We maintain a service philosophy as if the property was one of our owned assets. Our mission is to create long-term, mutually beneficial relationships with our clients.”
One example is Dorchester Manor, a rental community in the Bergen County, New Jersey Town of New Milford, which is now one of the region’s best-performing assets and apartment communities and one of the best managed properties thanks to the efforts of Value Asset Management (VAM).
Less than one year after VAM was retained by the property’s owners to direct the management, leasing, operations and marketing efforts, the apartment community is nearing full occupancy of its 200 apartment homes.
Although the property was already well known in the Bergen County area, VAM provided Dorchester Manor with the opportunity and support to take the community’s performance to the next level. The company recently completed an aggressive $1.5 million capital improvement program to modernize and significantly update the community, including insulated energy efficient windows and apartment entry doors, new shutters, removal and installation of new landscaping, new roofs on select buildings and apartment renovations. Additionally, VAM is looking forward to pursuing more improvements in the near future.
While proud of its development success, Mr. Abramson is quick to point out that the genesis of the Value Companies would not be complete without a strong dedication and concern for the communities it serves and causes it believes in.
He and his family are responsible for the creation of the Cure Breast Cancer Foundation (CBCF), which was founded in 2007 to raise money for breast cancer research at the Manhattan-based Memorial Sloan-Kettering Cancer Center and other national and international cancer research facilities under the direction of Larry Norton, MD. CBCF has raised in excess of $3 million through its annual October Lease For A Cure program and other events including a fashion show, golf outings, walk-a-thons and more.
With a steadfast commitment and expertise in multifamily housing and its ability to introduce new housing products that address consumer and community needs, Value Companies is poised for extensive development success, growth and expansion in the years ahead.
“Today’s residential market has certainly presented growth opportunities and we’ve implemented a company-wide approach to identify and pursue appropriate development initiatives,” Mr. Abramson points out. “This strategy has the Value Companies well-positioned to emerge from current market conditions stronger than ever.”
A perfect gateway into its milestone 60 year anniversary, in 2011 Value Companies, Inc. was crowned with the prestigious “Management Company of the Year Award” during the New Jersey Apartment Association’s (NJAA) 18th Annual Garden State Awards.