NOI Property Management LLC Updates its LEASE-UP Assignment for Stoneleigh On Major Phase II

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Lease-up assignment ahead of schedule and above underwritten rents.

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Phase II of this beautiful Class A asset has reached 50% occupancy 2 months ahead of expectations and 2% above underwritten rents.

NOI Property Management LLC is pleased to update its LEASE-UP assignment for Stoneleigh On Major Phase II located in Beaumont, Texas.

“Phase II of this beautiful Class “A” Asset has reached 50% occupancy 2 months ahead of expectations and 2% above underwritten rents,” said V James Marfuggi, President of NOIPM. "We continue to experience a great reception to the product in the Beaumont market, particularly in the 3 bedroom floor plans which were not in the original construction of phase I." According to Marfuggi, NOIPM expects the lease-up to be completed on time, under budget and over expected rents.

NOI Property Management LLC is a Texas based 3rd party multifamily management services company. NOIPM officers have operated over 3.5 billion in multifamily assets over the past 25 years in primary and tertiary markets across the United States.

NOIPM is best described as offering high impact management for both clients and residents alike. Adhering to best practices to exceed market performance, NOIPM focuses on operating basics, or what we refer to as “Performance Fundamentals." We maximize the resident experience, emphasize product presentation, and educate our team in financial metrics, thereby raising the performance expectation. NOIPM offers clients a proven track record of success across multiple operating disciplines: conventional management, turnaround management, value add management, construction services management and new development lease-ups.

For more information about NOIPM, contact ksmith@NOIPM.com

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Karen Smith
@NOIPropMgmt
since: 04/2014
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