ROSS Companies Acquires Richmond, VA Apartment Community
RICHMOND, Va., Oct. 9, 2019 /PRNewswire/ — ROSS Companies, a leader in multifamily acquisitions, property management and renovation, today announced it has acquired Hampstead Apartments, a 98-unit community in Richmond, VA.
ROSS Companies has begun to employ a $3MM repositioning and rebranding program for the community, which includes renovating the apartments in an effort to meet consumer desires for new contemporary housing in a popular, convenient location. Hampstead Apartments (which will be rebranded under a new name) is nestled in a newly developed section of Richmond called Libbie Mill – Midtown. Libbie Mill – Midtown is an 80-acre mixed use space offering retail, restaurants, offices, trails, and a world-class library.
«Given its prime location, Hampstead Apartments is an exciting investment opportunity for us» said Dave Miskovich, CEO of ROSS Companies. «We believe the extensive capital improvements program that we will be undergoing will put Hampstead Apartments directly in line with the demands of today’s savvy apartment consumer, who are seeking sophisticated, highly functional apartments.»
This 98-unit community consists of 2-bedroom apartments. Renovation will include creating an open living, dining, kitchen concept, installing luxury plank flooring, and completely new kitchens and bathrooms. There will also be wide-spread exterior upgrades to the building fascia, landscaping and signage.
About ROSS Companies
ROSS Companies, founded in 1983 in Bethesda, Md., is a recognized leader in multifamily acquisitions and investment, development, property management and renovation. With a managed portfolio of more than 10,000 apartment homes in more than 30 communities, the privately held company is one of the most active multifamily real estate firms in the Mid-Atlantic region, and is recognized for its ability to add value to communities and to drive high levels of resident satisfaction. ROSS Companies is comprised of three affiliates – ROSS Development & Investment, ROSS Management Services and ROSS Renovation & Construction. In 2018, ROSS Development & Investment celebrated its 35th anniversary and ROSS Management Services celebrated 30 years in business. In 2018, ROSS Management Services was honored for the fourth consecutive year with a National Resident Satisfaction Award from SatisFacts. Also, in 2019, it was announced that 9 ROSS-managed apartment communities had been awarded the Apartment Ratings’ Top-Rated Award for 2018, 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 RossCompanies.com.
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SOURCE ROSS Companies