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Clark Realty Management Assumes Management of Kendrick Court

August 1, 2001

HERNDON, Va. — Clark Realty Management (CRM)*, a full-service property management firm founded by Clark Realty in January, recently began managing Kendrick Court, a 139-unit senior housing community in Herndon. Established with a focus on new technology, CRM is dedicated to serving owners and residents with state-of-the-art management services.

Clark Realty Management Assumes Management of Kendrick Court Press Release Image

Kendrick Court at McNair Farm

CRM's General Manager, Stephanie Shum Anderson, is responsible for managing the new technology and leading the eBusiness initiative at Clark Realty.

"The proliferation of the Internet and the invention of web-based applications has created a unique opportunity to reinvent property management operations," Anderson said. "As a new firm, CRM has the advantage of building our business with the latest tools, based on a foundation of new technology. We're excited by the possibilities."

At Kendrick Court, CRM is already implementing several new high-tech tools to streamline the management business and provide community information and additional services to residents. One of these new business tools is a web-based property management software package that tracks leasing, management, and forecasting for the property. Because the product is web-accessible, CRM's managers have uninterrupted access to property data from anywhere with an Internet connection.

A second innovation is the creation of a web-based Intranet. This Intranet provides CRM employees with operations manuals, forms, and guidelines, while eliminating many paper-based systems. It also provides up-to-date, 24-hour access to company information over the Internet.

In addition, CRM is experimenting with a new web-based eConcierge service. This online service acts as a resident portal for users to access information about community events, review accounts online, pay bills, and submit service requests to the facilities managers.

At Kendrick Court, CRM plans to release a limited set of functionality to residents by the end of the year. Mary Froehlich, CRM's Vice President of Operations, has eighteen years of experience in residential and commercial management and feels that Kendrick Court's new resident services far exceed industry standards.

"At Kendrick Court, we're adding a new level of responsiveness and accessibility to resident services," Froehlich said. "This community was originally designed to create lifestyle and convenience to active seniors, and our new management systems will greatly enhance our ability to provide our senior residents with a variety of community activities and upgraded services."

Before joining CRM, Froehlich managed a real estate portfolio valued at more than $100 million with a staff of over 100 people. Last year, her innovative management operations helped earn her prior firm the "2000 Property Management Company of the Year" award from the National Association of Homebuilders (NAHB) and Multi-Housing News magazine.

Developed by Clark Realty Capital**, Kendrick Court was constructed by Clark Realty Builders*** and completed in December 1998. The project was developed to complement the active senior's lifestyle and provide conveniences normally available only in an urban setting. The VHDA tax-credit project offers residents many amenities, including a library, activities room, beauty salon, game room, arts and crafts center, fitness center, and computer center with Internet access. Each unit also includes a pull-cord activated emergency response system with 24-hour monitoring, and the building is equipped with a secure entry system.

Kendrick Court is located in the McNair Farms community in Herndon, within walking distance of a grocery store, pharmacy, dry cleaner, restaurants, and retail shops. It is also convenient to Dulles International Airport.

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About Clark Realty management

Clark Realty Management (CRM) is a full-service firm providing value-added services from the conceptual design phase through marketing, lease-up, maintenance, and asset management. Clark Realty began management of apartment and commercial properties in 2001.

About Clark Realty Capital

Clark Realty Capital (CRC) offers a full spectrum of services to the real estate industry including investment, development, construction, property management, capital markets, and advisory. ***Clark Realty Builders (CRB) is a national, multifamily general contractor which was recently ranked as the sixth largest such firm in the U.S. by Builder magazine. More information about Clark Realty can be found on the Internet at www.clarkrealty.com.

CRM, CRC, and CRB are all subsidiaries of Clark Enterprises, Inc., which also owns The Clark Construction Group, the nation's largest private general contractor with approximately $2 billion in annual revenues.