Siena Luxury Residences just celebrated the Grand Opening of their new clubhouse and 7 additional buildings on Thursday, November 14! The team worked tirelessly for many months to ensure that everything turned out perfectly for this event. Take a look at the Siena Facebook Page and look through all the pictures from the event. Help us congratulate #TeamSiena!
Cove Property Management was a Silver Sponsor for the annual 5k fundraising event with Paul’s Place. On Saturday, November 9th we had 9 employees take part in the Huff & Puff 5K/1M, at the Carroll Park Golf Course. It was a great event for a great cause!
Paul’s Place is a catalyst and leader for change, improving the quality of life in the Southwest Baltimore communities. Paul’s Place provides programs, services, and support that strengthen individuals and families, fostering hope, personal dignity and growth.
On October 10th 2019, many employees of Cove Property Management attended the MMHA Star Awards. Congratulations to Greg Swietkoski, he won the GOLD STAR AWARD for Service Supervisor of the YEAR. Greg is our Service Supervisor at Somerset at Towson and has been an integral team member with Cove since Sept 2014. We are all very proud of Gregs award and commitment to proving excellent service to our residents. Way to go Greg!
The principals of Advantage Properties and Cove Property Management purchased the portfolio from a joint-venture between Feldman Bergin Properties and Fortified Property Group for $9.95 million.
“We are pleased with the Oakland Ridge acquisition as these properties are expected to generate substantial cashflow over time. The properties are well-positioned in the Columbia market and will benefit from strong demand for the asset class in the coming years,“ commented Alex Gross, President of Advantage Properties.
The Oakland Ridge Portfolio totals 84,514 square feet on 6.78 acres. At 100-percent leased, the portfolio provides strong in-place cashflow with value-add potential through rising rents. The portfolio is also buoyed by the future Howard County Courthouse development, a $140 million development project just a quarter-mile away.
Executive Managing Director Cris Abramson, Director Nicholas Signor and Associate Ben McCarty of NKF’s Maryland Capital Markets team facilitated the sale. The sale marks the third disposition arranged by the NKF team in the Oakland Ridge Industrial Park over the last 12 months.
“The Oakland Ridge Industrial Park continues to prove its merits, as another new investor enters the market,” said Abramson. “Located at the convergence of MD-29, MD-100 and Route 108, the Oakland Ridge Portfolio benefits from tremendous access and location at the midpoint between Washington, DC and Baltimore.”
About Advantage Properties and Cove Property Management
Advantage Properties, Inc. is an entrepreneurial real estate development and asset management company that specializes in identifying, acquiring, and overseeing the management of multi-family income producing real estate in the District of Columbia, Maryland and Virginia.
Cove Property Management provides real estate management for apartments and townhomes for rent throughout Maryland and New Jersey. Cove offers a full suite of property management services, led by a highly qualified team and driven to be responsive, proactive and thoughtful. We approach each investment from an owner’s perspective because we are owners. Currently Cove’s portfolio includes fifteen apartment communities in the Maryland, Washington D.C. metro, New Jersey areas totaling 2100+ apartment homes.
The board of directors of the Maryland Multi-Housing Association, which represents providers of rental housing and professional residential services, elected new officers for the 2018-2019 fiscal year.
Stephen Margerum, founder and principal of Cove Property Management LLC, will serve as president of the board. Also, Patrick Butler, vice president with Bozzuto Management Company, will serve as vice president; Steve Weidner, president and CEO of Carpet Consultants, will be treasurer; and Jamie Lubliner, vice president of finance with Hendersen-Webb Inc., is the new secretary.