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Clark Realty Management Wins Two AOBA Apartment Community Excellence Awards

December 3, 2002

Bethesda, Md. — Clark Realty Management (CRM)* was recently honored with two 2002 AOBA Apartment Community Excellence Awards for its Virginia communities, Kendrick Court and Ashburn Meadows. The Apartment and Office Building Association (AOBA), the leading membership organization representing commercial and multifamily residential real estate in the Washington Metropolitan Area, presented the awards to CRM as part of its 2002 AACE Awards and Monte Carlo Evening in Washington, D.C.

Clark Realty Management Wins Two AOBA Apartment Community Excellence Awards Press Release Image

Kendrick Court at McNair Farm

According to AOBA, the awards are presented as "an acknowledgement of excellence within the apartment industry in metropolitan Washington. The award-winning communities demonstrate the physical qualities, marketing achievements, and management caliber necessary to be called one of the best in metropolitan Washington."

Established in 2001, CRM was founded to serve apartment community owners and residents with state-of-the-art management services. The proliferation of the Internet and the invention of web-based applications created a unique opportunity to reinvent property management operations. As a new firm, CRM built its business with the latest tools, based on a foundation of new technology.

At Kendrick Court and Ashburn Meadows, CRM implemented 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.

CRM is also implementing 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.

Developed by Clark Realty Capital**, Kendrick Court and Ashburn Meadows were both constructed by Clark Realty Builders***. Kendrick Court, a 139-unit senior living community in Herndon, Va., was completed in 1998. Ashburn Meadows, a 336-unit two-phased affordable housing community in Ashburn, Va., was completed in 2000.

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* Clark Realty Management, L.L.C. (CRM) is a property management company dedicated to serving owners and residents with state-of-the-art management services using the latest technologies available. 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 Capital, L.L.C. (CRC) offers a full spectrum of services to the real estate industry including capital markets, investment, development, construction, and property management.

*** Clark Realty Builders, L.L.C. (CRB) is a national, multifamily general contractor recently ranked as the sixth largest such firm in the U.S. by Builder magazine.