JACKSONVILLE, Fla., Jan. 16, 2019 /PRNewswire/ -- ResProp Management was selected to provide full-service management for The Forest Apartments. The Forest is located in Jacksonville's Westwood neighborhood. The two-story surface property offers units averaging 847 square feet. The property is composed of 113 residential units with onsite amenities that included a swimming pool, playground, and an on-site laundry facility.
With the recent addition of The Forest Apartments into the portfolio, ResProp Management now manages more than 7800 units across Florida. This latest addition was made possible through the partnership with Hyperion Endeavors. This Real Estate Investment Firm's management team owns 4,000 units in Texas, Alabama, Tennessee, Georgia, and now Florida.
Clint Miller, Director of Business Development for InvestRes (parent company of ResProp) states, "We are thankful to Hyperion Endeavors for allowing us to take their newest acquisition to the next level. By using the scale we have with ResProp Management and our technology capabilities via Trustwork, we will execute a robust value-add program to make sure they attain their investment goals and continue to grow their portfolio".
"Expanding into the Florida market has been an exciting experience for Hyperion Endeavors and Think Multi-Family. We are pleased to bring new life and vitality to The Forest Apartments through a well-structured value-add program that includes both interior and exterior improvements. Through our partnership with InvestRes, we are confident that the west side Jacksonville sub-market will reach new heights," said Andrew Murphy, Co-Founder at Hyperion Endeavors.
"We are excited to continue growing ResProp Management's footprint in Jacksonville. The Forest Apartments will enhance our current well-established portfolio. Our Jacksonville office has demonstrated, through strong leadership, the ability to maximize profitability in 2018. I look forward to continued success and growth in this market in 2019 and many years to come," said Janice Richards, Senior Vice President at ResProp Management.
About ResProp Management: Since 2010, ResProp has managed over 17,000 apartment homes throughout Florida, Texas, Arizona, and Colorado. ResProp will continue to relentlessly pursue our aim to be the premier service to property owners of residential real estate in target markets into 2019. ResProp is a vertically integrated company, handling acquisitions, property management, construction management, and portfolio management in-house.
About Hyperion Endeavors: The Hyperion Endeavors Executive Team is led by Hayden Haucke and Andrew Murphy. A real estate firm specializing in the acquisition of underperforming multifamily assets with value-add opportunities. Through strategic operations, renovations, and expense reductions that result in customized business plans. Their strategies result in improved operational efficiencies and increased property values over the target investment timeframe.
SOURCE ResProp Management