The organization began in 1994 with a 40-unit property in Norfolk, VA. After a complete rehabilitation of that property the company grew over the succeeding 25+ years to ownership and management of over 6,600 apartment units and approximately 725,000 square feet of commercial real estate in Charlottesville, Richmond, Newport News, Williamsburg, Hampton, Norfolk and Virginia Beach, VA.
The apartment portfolio ranges in size from the original 40 units up to one of the largest multifamily properties in the state at 1,287 units. The primary emphasis has been to purchase properties in need of upgrading which requires significant capital investment in new roofs, appliances, flooring, etc. as well as improvements in landscaping and efforts to improve safety. The company has received several commendations from cities over the years where the city recognizes the efforts being made to improve the locality.
The commercial properties are all in Charlottesville and began with a 500,000 square foot light industrial building that became the home to government users, government contractors, a public school, a pharmaceutical company, warehousers and high-tech companies. Subsequent acquisitions resulted in properties that house building supply companies and the scientific group for the National Radio Astronomy Observatory.
The companies employ approximately 165 employees and continues to look for acquisition candidates.