FAIRFIELD, NJ-Woodmont Properties has appointed a senior manager to take charge of its growing apartment management division as the company's portfolio expands, GlobeSt.com has exclusively learned
Marla Posey, previously a regional property manager for Morgan Properties and Edgewood Properties, is coming on board at the time same as Woodmont's launch of a joint venture with Loew Enterprises to reposition the 317-unit Abitare Apartments in Voorhees.
“We will be making improvements to re-restablish the community's value, as well as taking on the property management,” says Fairfield-based Woodmont's president Lewis Zlotnick. Another 100 units are planned at Abitare, which is located next to the Voorhees Town Center.
“Aside from the waterfront areas, there has been a lack of rental apartment development for about 20 years in this state,” says Zlotnick. “Understanding the economics and demographics that affect housing today, Woodmont is going down a long-term path of developing multi-family communities throughout New Jersey and Pennsylania.”
In the last five or six years, the company has helped develop around 1,000 apartments. It currently has another three communities under construction (in Red Bank, Cranford and Hanover) and Zlotnick estimates the company has a total of 2,000-4,000 units in the pipeline on property it controls.
Woodmont currently manages three communities: Woodmont Square, a 100-unit complex in Bridgewater Township; and two luxury apartment communities in the Lehigh Valley, PA, the 216-unit Woodmont Place in Palmer and the 204-unit Woodmont Mews in Bethlehem.
In her new role, Posey will oversee these projects and all others the company adds to its management portfolio.
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