Full Service Division Of Value Companies To Handle All Operations For 234-Home Apartment Community In North Arlington, N.J.
CLIFTON, NJ – Value Companies, Inc. announced today that Value Asset Management (VAM) has been retained to oversee the management of Arlington Park, formerly known as Ridge Park Apartments in the Bergen County Borough of North Arlington, NJ.
VAM, a full-service division of Value Companies which provides management capabilities and customized asset solutions to third-party real estate investment and property owner clients, will immediately take over leasing, operations and marketing efforts at the 234 garden-style home community located at 20-B Ridge Park Drive.
Arlington Park will be VAM’s second assignment in Bergen County. The company’s successful turnaround and lease up of the 200-apartment Dorchester Manor community at 195 Dilworth Road in New Milford drew the attention of the owners of Arlington Park who cited VAM’s high standards, well-respected track record and proven ability to turnaround existing apartment complexes such as Dorchester Manor as the major reasons for selecting the Clifton-based company.
“Our decision to hire Value Companies was an easy one,” said Arthur R. Kramer, one of the managing partners of Dorchester 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 managed award-winning new home and existing apartment communities throughout the area,” added Andrew Abramson, CEO and President of the Clifton, N.J.-based Value Companies.
“At communities such as Dorchester Manor, we’ve successfully formulated innovative, relevant and well-managed programs that address various market conditions. Our in-house capabilities, coupled with a focus on established 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 leasing campaigns.”
Value Companies currently owns and manages a portfolio of 3,226 residential units across fifteen communities located throughout New Jersey, Pennsylvania and New York. 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. Abramson.
“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. Abramson 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.
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. 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 also received numerous industry awards for its various properties as well as being a 3-time recipient of the New Jersey Apartment Association Management Company of the Year award.
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