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National Condo and Apartment Insurance Group Joins Forces with Huff McDermott, Assurance Property Management to Leverage Multifamily Collective Skills

CINCINNATI, Feb. 5 /PRNewswire/ -- Three national companies focused on providing key services to multifamily housing investors have joined forces. Huff McDermott, Assurance Property Management, and National Condo and Apartment Insurance Group are pleased to announce their alliance in helping investors overcome the obstacles of multifamily acquisitions and ownership.

The three organizations have collaborated over the past several years in the acquisition of more than $41,000,000 in multifamily assets. "Our companies have worked together on multiple deals and the energy of our alliance was incredible. It only made sense to let other investors take advantage of our growth and expertise," said Frank Constant, President of Assurance Property Management.

The companies plan to utilize their individual niches in the multifamily market place while providing a joint approach to aligning the three key components needed in a profitable acquisition.

Huff McDermott provides some of the most comprehensive financing packages nationally for multifamily real estate projects. Their network of portfolio lenders, local banking institutions, conduits, and life insurance companies allow them to offer financing options to clients who might otherwise be ignored in today's economy.

Assurance Property Management offers high-touch property management solutions to multifamily investors. Known for their ability to increase occupancy, reduce outstanding collections, and improve tenant satisfaction, Assurance Property Management currently manages a portfolio of over 2,000 units.

National Condo and Apartment Insurance Group provides insurance solutions for every real estate scenario. It focuses on the needs of real estate investors in apartment complex insurance and condominium complex insurance. With over 20 years of insurance experience, they bring clients expertise and knowledge so their investments are properly protected at the most reasonable cost.

"Each of our companies supported the others in multiple acquisitions over the past years," said Kent Littlejohn, President/CEO National Condo and Apartment Insurance Group. "It seemed natural for us to roll this alliance out to investors and multifamily property owners looking for the types of tools and technology we can all offer."

The multifamily segment of the real estate industry is expected to remain strong in the coming years in many areas of the country. Tightened mortgage requirements for potential homeowners will keep the rental industry strong. Additionally, Echo Boomers have little interest in owning property and prefer to rent. Echo Boomers refer to the 80 million young people born between 1982 and 1995. The leading edge of this generation is currently in their mid 20s.

In October of 2008 at the Multifamily Executive Conference, it was reported an average of 400,000 immigrants come to the U.S. each year. It was further reported immigrants typically rent for 9 years before purchasing a property. "We feel perfectly positioned as a team providing debt funding, management, and insurance for multifamily owners looking to take advantage of this growing trend in rental properties," remarked James Huff, Senior Principal of Huff McDermott.

Contact Information:

Huff McDermott Commercial Real Estate Services
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Assurance Property Management
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National Condo and Apartment Insurance Group
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