NOI Property Management LLC Announces Value Add Assignment for Cypress Pointe Apartments in Tomball, TX

August 1, 2013 - HOUSTON, TX - NOI Property Management LLC announced another value add assignment for Cypress Pointe Apartments in Tomball, Texas.  The property will be the recipient of a capital improvements program to enhance community amenities, exteriors and 100% of unit interiors that will result in significant rental premiums.  

“Our Construction Services Team did another great job putting together a very efficient interior scope of work, and we fully expect our site team to pre-lease units as delivered, on time and within rent budgets for all floor plans. This asset has an excellent location, our costing is great and we are looking forward to a successful lease-up once again,” said V James Marfuggi, NOIPM President.  Per Mr. Marfuggi, NOIPM expects the return on capital to be over 400%. The first units will be delivered for occupancy in 3-4 weeks.

"We are very excited to have reached the 50% leased mark in our renovation leasing for this asset, particularly since we are doing very well managing the balance of logistics of high occupancy with available units to renovate each month. We are within budget on both sides of the ledger: cost and rent," said V James Marfuggi, President of NOIPM. According to Marfuggi, NOIPM expects the full lease-up of renovated units to be completed in the short few months ahead.

About NOI Property Management LLC

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.

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