NOI Property Management LLC Announces Value Add Assignment for Stoneleigh on Spring Cypress Apartments in Spring, TX

April 1, 2014 - HOUSTON, TX - NOI Property Management LLC announced a new value-add assignment for Stoneleigh on Spring Cypress Apartments located in Spring, Texas.  Stoneleigh on Spring Cypress is a 216-unit luxury apartment community located north of Houston, built in 2007. Renovations and pre-leasing have begun.

“Our Construction Services Team hammered out a cost efficient interior renovation scope, and we are anticipating our Leasing Team will pre-lease renovation units as delivered on time and within rent budgets for all floor plans. The footprint of this asset is excellent, our costing is superior and we are looking forward to a measured lease-up with this highly occupied asset,” said V James Marfuggi, NOIPM President. Per Mr. Marfuggi, NOIPM expects the return on capital to be 300%. The first units will be delivered for occupancy in 3-4 weeks.

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.

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