Virginia Beach, VA (PRWEB) October 14, 2014
The Franklin Johnston Group, the Virginia Beach based apartment developer and manager, has announced an agreement to manage all Waverton Associates Communities comprised of 2200 residences in the Richmond and Hampton Roads areas.
Waverton Associates was founded in Portsmouth, VA in 1996 by John P. Wright to develop, construct and manage high quality multi-family communities and to develop and build exceptional neighborhoods. Waverton has developed and built numerous residential and commercial properties throughout the region with an estimated value of more than $800 million.
The Waverton portfolio awarded to FJG for management consists of the following communities: Meridian Watermark, Chesterfield, VA; Impressions, Newport News, VA; Meridian Parkside, Newport News, VA; Meridian Harbourview, Suffolk, VA; Denbigh Village, Newport News; Waverton Chesapeake, Chesapeake, VA; Ashton Green, Newport News, VA. The portfolio consists of both market rate and tax credit communities. The FJG management team takes over on October 1 of this year.
“When we launched The Franklin Johnston Group a little over a year ago, one of our goals was to associate ourselves with the top tier owners and developers of apartment communities,” said Taylor Franklin, Chief Operating Officer of FJG. “Waverton Associates not only fits the top tier description, but they also share common core values with our company. Our team is extremely excited about managing these communities and we appreciate the confidence Waverton Associates has placed in us,” he added.
ABOUT THE FRANKLIN JOHNSTON GROUP
The Franklin Johnston Group is a developer and manager of multifamily rental residences in the senior, luxury and affordable housing sectors. The company owns and manages more than 7000 units and 45 properties throughout the Eastern U.S. The FJG portfolio is composed of its own properties as well as those owned in partnership with various individual and institutional investors. The company develops new properties and acquires and rehabilitates existing communities. FJG is headquartered in Virginia Beach, VA and employs more than 300 people throughout the mid-Atlantic and Southeast.
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