Manager Drucker + Falk has expanded operations in Texas and opened a new regional office.
One of the largest apartment managers in the U.S. has expanded its operations in the Dallas-Fort Worth metro and opened a new regional office. Newport News, Va.-based Drucker + Falk announced at the end of April it added more than 2,800 apartment homes to its management portfolio, and it opened a regional office in Arlington under the direction of Mark Copeland, Multifamily Director.
The newest community additions bring Drucker + Falk’s portfolio to nearly 40,000 apartments in 12 states.
"On the heels of a year in which the world around us limited social interactions and public gatherings, we are beyond excited at the prospect of working with committed owners and our site teams to renovate the properties, re-imagine and re-open amenities, engage with our residents and build strong communities" said Copeland in a release.
Drucker + Falk is under new ownership; New York-based equity firm Manhattan Five Partners LLC said the communities will undergo interior and exterior capital improvements and upgrades.
"We are excited to expand our multifamily portfolio to Dallas, where planned renovations to these value-add communities represent not only a prudent business decision for investors, but one that will benefit the many current and future residents who choose to call our communities home,” said Jeffrey Srulowitz, Managing Principal with Manhattan Five Partners, in the release. “We are committed to investing in sorely needed, quality housing options for an ever-growing, dynamic workforce."
Jack Holuba, Vice President of Acquisitions at Manhattan Five Partners said, "Our renovation strategy combined with the professional management and exceptional resident service for which Drucker + Falk is broadly known, positions us in these submarkets to be the property of choice for our target audience. We know resident satisfaction and bottom line NOI are inextricably linked, and we're excited for our investors and our residents, about what is to come."