RMS is Awarded Management Responsibilities for Coliseum Lofts
July 8, 2015
123-unit Apartment Community Prime Location for Students of Virginia Commonwealth University
RICHMOND, Va., July 8, 2015 – ROSS Management Services, a leader in multifamily property management, today announced it has taken over management responsibilities for Coliseum Lofts, a 123-unit market rate, student-oriented community located at 1359 West Broad Street, Richmond, Va.
Situated directly across the street from Virginia Commonwealth University (VCU) in the high-demand Monroe District of Richmond, the Coliseum Lofts, owned by Time Equities Inc. (TEI), offers convenient access to restaurants, shopping and all amenities offered by the university. TEI selected ROSS Management Services because of its extensive experience increasing asset value through its innate ability to market to the right property demographic at the right time, its strengthening of resident relationships and improving the efficiency and professionalism of apartment operations.
“ROSS Management Services has a sterling reputation in multifamily operations, management and enhancing asset valuation through superior operational performance,” said Brad Gordon, Director of Residential Acquisitions with Time Equities Inc. “They are forward-thinking, resident-centric and collaborative. These attributes are what we want from a third-party manager representing TEI as we’re committed to the quality and value afforded to the residents and communities. We believe this partnership will be advantageous not only for the portfolio of communities, but also for the residents who call Coliseum Lofts home.”
The company will revamp the community’s digital marketing strategy to make it easier for students, and their parents, to find information on Coliseum Lofts and to lease an apartment home. As part of the effort, ROSS Management Services will boost the community’s search engine marketing program, including its search engine optimization activities and its pay-per-click advertising efforts, while also implementing technologies that enable students to lease and parents to co-sign for leases all online. In addition, ROSS will employ its award-winning reputation management platform to strengthen Coliseum Lofts’ reputation on review sites like Yelp, ApartmentRatings and Google.
ROSS Management Services will also update technology-based services for Coliseum Lofts residents, including the addition of online rent payments, an online resident portal and resident satisfaction surveys. These services are designed to exceed the technology expectations of the student population and deliver the conveniences they expect from their apartment community.
“We are focused on enhancing the lifestyles of our residents with a customer-friendly approach that builds strong relationships and leverages innovative technology that makes living at a ROSS community meaningful for our residents,” said David J. Miskovich, chief operating officer of ROSS Management Services. “Time Equities is a fantastic organization that aligns with our desire to provide the best living experience to our residents. They understand a well run, customer-centric apartment community has an exponential positive impact on the value of the asset and the value to the neighborhood it serves. The synergies between our organizations will forge a powerful partnership.”
Coliseum Lofts offers studio, one-, two- and three-bedroom apartment homes along with several live-work spaces. Inside the apartments, residents enjoy sleeping lofts, high ceilings with skylights and ceiling fans and trendy exposed brick walls, while all utilities, internet and cable are included in the rent. Amenities offered are a business center, entertainment room with video games and recliners, bike racks and an electronic entry system.
With the addition of Coliseum Lofts, ROSS Management Services currently operates over30 apartment communities, representing over 10,000 units, in the Mid-Atlantic area.
About ROSS Companies
ROSS Companies, founded in 1983 in Bethesda, Md., is a recognized leader in multi-family acquisitions and investment, development, property management and renovation. With a managed portfolio of more than 10,000 apartment homes in over 30 communities, the privately-held company is one of the most active multifamily real estate firms in the Mid-Atlantic region. ROSS Companies is comprised of three affiliates – ROSS Development & Investment, ROSS Management Services and ROSS Renovation & Construction. In 2015, ROSS Development & Investment is celebrating its 31st anniversary and ROSS Management Services is celebrating 26 years in business. In 2015, 19 ROSS-managed apartment communities were awarded the Apartment Ratings’ 2014 Top Rated Award, reflecting ROSS Companies’ unwavering commitment to customer satisfaction. These annual awards recognize communities with outstanding resident satisfaction ratings as measured on ApartmentRatings.com. For more information about ROSS Companies, visit TheRossCompanies.com.
About Time Equities Inc.
Founded in 1966, privately-held Time Equities, Inc. (TEI) has been in the real estate investment, development and asset & property management business for more than 45 years. With properties in 25 states, four Canadian provinces and Germany, the TEI portfolio consists of approximately 20 million square feet of residential, industrial, office and retail property. For more information, please visit www.timeequities.com.