Drucker & Falk Increases Management Portfolio by 814 Units in Richmond and Colonial Heights

RALEIGH, NC, January 13, 2011 (Press-News.org) Drucker & Falk began the New Year by expanding its multifamily fee management portfolio in Richmond, VA and the surrounding area with the addition of 814 managed apartment homes. During the first week of January, the 73 year old apartment management firm assumed management of eight communities, including seven communities in Richmond and one community in Colonial Heights.

In Richmond, this expansion includes a partnership with Oliver Properties, who has contracted the firm to manage their 417 unit multi site portfolio. This diverse group of communities includes Kensington Place Apartments, Grove Avenue Condos, and Patterson Place Apartments, all located in Richmond's historic Museum District; Rock Creek Apartments, located in the city's Southside; and Highland Woods Apartments and The Highlands Townhouses, both located in the East End. "We are excited about our new management partnership with Oliver Properties," says Andrew Chisholm, Drucker & Falk's Director of Management in the Richmond and Northern Virginia region. "Oliver Properties has established an excellent reputation during their 27 year history, and we look forward to serving them as their professional management firm."

In addition to the Oliver Properties portfolio, Drucker & Falk added Hunt Club Apartments in Richmond, a 297 unit apartment community in the heart of Henrico's West End. The community is located near I-64 and I-95, minutes from the village of Short Pump. In Colonial Heights, the firm assumed management of Bermuda Run, a 100 unit, Section 236 community just south of Richmond.

Drucker & Falk plans to continue its portfolio expansion in 2011, seeking multifamily management business throughout the Mid Atlantic and Southeast. "We are looking forward to an exciting year," says Dan Haefner, Executive Director of Multifamily Management. "We are equipped to serve our clients better than ever and are expecting increased value for our management clients as well as additional management growth for the firm."

Drucker & Falk, LLC is a full service investment real estate services firm, offering multifamily property management, commercial management, commercial sales & leasing, senior living, and advisory services for the real estate industry. For more information on Drucker & Falk LLC, visit http://www.DruckerandFalk.com.