FOURMIDABLE Assumes Management of 4 Communities
- Jan 27, 2021
National real estate management company FOURMIDABLE has been designated new managing agent for four multifamily communities in Arkansas, Michigan and Tennessee. The apartment and senior living communities collectively encompass 405 residences.
“FOURMIDABLE was selected based on our experience and placement in the market,” Michael Schocker, company president, told Multi-Housing News. “We have a track record of not only being able to stabilize these types of properties but . . . a proven ability to elevate them in a manner which is beneficial to the residents and clients we serve.”
The company will begin a series of upgrades, he added. “We anticipate most of the challenges will surround implementing a solid preventive maintenance program to address any existing maintenance issues,” Schocker said. “The secondary main issues are related to implementing policies that will address resident concerns. When these policies are fully in place, the resident experience will be better for all people involved.”
The properties include the following:
Families First Homes
This community is comprised of 50 three- and four-bedroom residential homes on individual and separate parcels in West Memphis, Ark. Rents start at $500 a month.
Mason Homes on 4th
Constructed three years ago, this is a 77-unit apartment community in Memphis, Tenn. The smoke-free property features two- and three-bedroom apartments with open layouts, hardwood floors and granite countertops. Common-area amenities include a clubhouse fitness center. Apartment rents start at $776 per month.
Country Club Manor
This Flint, Mich., property is a 155-unit market-rate apartment community offering one- and two-bedroom residences. The community features laundry facilities, storage lockers and carports. Rents begin at $519 per month.
Also in Flint, this 123-unit senior community provides meals, housekeeping, activities and personal services for adults 55 and older. Rents start at $800 monthly.
Earlier this month, another Tennessee property gained a $22 million Freddie Mac refinancing.