We’ve hired local onsite associates, in addition to local contractors, and we have put more than 100 people to work on this project.
Pensacola, FL (PRWEB) May 25, 2011
J.I. Kislak is currently renovating three recently acquired Pensacola properties, which has created over 100 jobs in the area. Based in Miami, the asset investment firm has established a successful track record of acquiring, repositioning and managing multifamily properties.
“We’re happy to boost the Pensacola economy by renovating three properties,” said Tom Bartelmo, President and CEO. “We’ve hired local onsite associates, in addition to local contractors, and we have put more than 100 people to work on this project. We have an appreciation for the opportunities in the Pensacola market and are happy to provide opportunities for the local residents.”
The renovations of the Jasmine Creek, Villas of Jasmine Fields and Villas at Jasmine Park properties will add over 100 updated units back in to the marketplace. The new upscale units will have hardwood floors, new appliances and other upgrades.
“Thanks to our strong management team known for careful analysis and experienced decision making and based on past successes, there is no reason to believe these renovations will be anything less than exceptional,” said Bartelmo.
J.I. Kislak bought the three financially distressed Pensacola multifamily properties in January. The company is investing over $4 million in the three assets in addition to the initial $11.5m acquisition capital. J.I. Kislak also owns and operates two other multifamily properties, Ashley Club Apartments and Arbor Club Apartments, with 392 units in the Pensacola area.
To learn more about J.I. Kislak and other projects the company is working on, visit http://kislak.com/.
About J.I. Kislak
J.I. Kislak is a national investment company, primarily operating as an owner and operator of multifamily properties. For more than a decade, J.I. Kislak has established a successful track record of acquiring, repositioning and managing properties. The company owns and operates over 3,100 properties in Arizona, Florida, Maine, New Jersey, Nevada and Texas.