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DRUCKER + FALK TO MANAGE PINES OF YORK APARTMENTS, A 248 UNIT SUBURBAN LIVING COMMUNITY IN YORKTOWN, VIRGINIA

DF to help oversee multimillion dollar renovation project

November 2021 – Newport News

Riverpass Holdings LLC, a prominent New Jersey based real estate investment firm, has appointed Drucker + Falk managing agent of Pines of York Apartments in Yorktown, Virginia, a 248-unit community located in the highly desirable York County suburb with convenient access to all major interstates, Langley AFB, NASA, and Peninsula Town Center.

"Expanding our existing Hampton Roads’ footprint with optimally located, value add properties that will benefit from a strategically focused capital infusion that yields solid returns for investors, and an enriched living experience for deserving residents, has been our business model from the start," said Mark Wachs, Vice President at Riverpass Holdings. "We look forward to working with our management partner, Drucker + Falk, to bring the same discriminating finishes and luxury amenity upgrades to Pines of York, that we’ve successfully implemented at Hampton Center and Waterman’s Crossing."

"Drucker + Falk could not be more pleased and excited to help bring to fruition, the owner’s vision of a beautifully appointed living alternative for Peninsula residents who live or work in the Hampton/Newport News/Yorktown corridor. Having managed apartments in this market for nearly 84 years, and with a management portfolio of more than 40,000 apartments in 11 states, Drucker + Falk is intimately familiar with the housing alternatives that today’s discriminating and savvy apartment dwellers seek." said Wendy Drucker, Managing Director and firm principal.

Situated on Highway 134 connecting Hampton, Newport News and York County, the property boasts large one-, two-, and three-bedroom apartments, a recently constructed clubhouse, fitness, and business center, and numerous amenities including a pool, tennis courts, dog park and playground. Owners plan a multimillion dollar interior and exterior renovation to be overseen by Drucker + Falk.

"We’re thrilled to be working with such an exceptional ownership group in overseeing and administering needed upgrades and enhancements that will make this property a standout community, and ultimately, one of the most highly desired living alternatives on the Peninsula. With its stellar location and fresh, modern interior and exterior upgrades and luxury amenity enhancements, deserving Yorktown residents will have many more reasons to call Pines of York home" said Deidre Brown, Multifamily Director at Drucker + Falk.

Julia Pape, Drucker + Falk Regional Property Manager, who currently works with the Owners on 2 other communities on the Peninsula, will oversee Pines of York Apartments and help guide the renovation project. "In addition to being located in one of the top school districts in the Commonwealth of Virginia, the plethora of planned upscale, family centric amenities and interior renovations, are all geared to creating an exceptional living experience for our residents," said Pape. "We are honored to be part of creating an attractive, functional and comfortable respite that so many of our deserving neighbors will call home."

Founded in 1938, Drucker + Falk is a full-service real estate and investment firm, managing a diverse portfolio of more than 40,000 apartments in 11 states including Virginia, Maryland, North Carolina, South Carolina, Georgia, Florida, Tennessee, Indiana, Kentucky, Ohio, and Texas. With roots in third party fee management, Drucker + Falk specializes in multifamily management of all asset types, new development construction consultation and lease up, urban revitalization, asset repositioning and stabilization of challenging properties, mixed use management and due diligence services. With more than 3 million square feet under management, Drucker + Falk also offers commercial sales, leasing and management services.

To obtain more information, please visit our website at www.druckerandfalk.com or contact Lisa Brewer, Business Development Director at lbrewer@druckerandfalk.com.