VALUE COMPANIES. INC SUCCESSFULLY LEASES SEVEN PROMINENT NEW YORK METROPOLITAN AREA APARTMENT COMMUNITIES

CLIFTON, N.J. – Value Companies, Inc. has executed successful leasing programs at seven prominent New York metropolitan area rental communities.

DORCHESTER MANOR

Dorchester Manor, a collection of one-and two-bedroom apartment homes in the Bergen County, NJ Town of New Milford, is perhaps the standout success of 2012 for Value Companies with the community’s 200 rental apartments fully leased under a division of Value Companies, called Value Asset Management, which provides full-service management capabilities and customized asset solutions to third-party real estate investment and property owner clients.

“Dorchester Manor, already well-known in the Bergen County area, represented a unique challenge,” says Jack Linefsky, Vice President of Property Management for the Value Companies. “Since it was first built in the 1960s, the community has been locally-managed by its original owners using more traditional management methods and advertisements.

“ However, once we took over the management, leasing, operations and marketing of the community in 2010, we immediately implemented a comprehensive plan which incorporated certain aspects of traditional management with a more modern technique and a more technologically-advanced approach. The end result was an incredible success with efficient and effective management operation, a high level of customer service and satisfaction and an increased leasing velocity and resident retention.”

The other six properties now fully-leased or nearing the 100% occupancy rate in Value Companies’ portfolio run the gamut of new construction developments to established apartment communities in New York and New Jersey. Two properties in Orange County, N.Y include Northwoods, a brand new offering of 70 upscale one- and two-bedroom apartment homes spread across a distinctly suburban site in Middletown, N.Y, and Sutton Hill, an existing community of 276 apartment homes with a wide range of amenities from a fitness center to a pool, and tennis, basketball, and racquetball courts, a playground and a barbeque area ; and four existing New Jersey rental communities, Valley View Apartments in Paterson, Arla Apartments in Nutley, Saddle Brook Apartments in Saddle Brook and Crestview Apartments in Parlin.

About Value Companies

Across its development division, Value Companies has embarked in new apartment 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 (VAM), provides full-service management capabilities and customized asset solutions to a growing list of third-party real estate investment and property owner clients. Value Companies was also named Management Company of the Year for 2011 by the New Jersey Apartment Association.

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

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