Provence Continues Expansion Across Southeast

ATLANTA, GA - Provence Real Estate, LLC, a prominent property management firm based here, announced it has assumed management of two luxury apartment properties in Louisiana. Provence will manage all operational aspects of Ansley Place Apartments in Houma and Ansley Walk Apartments in Lafayette, including marketing, leasing, staffing, maintenance, accounting, capital improvements, and reporting.

“We are very pleased to be entrusted with managing these properties, which are both class A luxury assets with strong fundamentals,” says Art Lieb, Managing Partner of Provence Real Estate. “We look forward to applying our proven expertise in all aspects of property management to maximize returns for the owners, while offering residents of the communities with exclusive amenities and unparalleled services.”

Ansley Place Apartments, built in 2009, consists of 246 units, while Ansley Walk Apartments, launched the same year, has 242. Both properties offer 1-3 bedroom apartments ranging from 650-1,400 square feet. Amenities at each include a resort-style pool with cabana, health club-quality fitness center, business center, and movie theater.

According to David Hathaway, principal owner of the properties, “After careful consideration, we hired Provence Real Estate as the managing agent for these assets since they have proven to us on multiple projects that they consistently outperform the submarket.” He adds, “Provence also provides exceptional reporting capabilities that allow us to make informed strategic decisions.”

Headquartered in Atlanta, Provence Real Estate also has expanded operations to all Southeastern states. The company’s current management portfolio includes more than 3,000 units—with a notable stabilized portfolio occupancy of 95 percent. Provence has management contracts for an additional 1,000 apartment units in 2012 and has hired a new regional manager and support staff to accommodate this growth.

Provence also continues to actively build their business in the Atlanta area. During 2011, the firm took over as managing agent of Montage Embry Hills Apartments in North Atlanta, comprising 225 units. They currently manage a total of 1,500 units in Georgia.

“Our success has been based on our capability to assist owners and partners in strategic investments by adjusting quickly to market cycles, maximizing the value of financial funding, and retaining talented leadership,” Art Lieb concludes.

Provence Real Estate, LLC is a privately-held real estate management organization with a focus on multi-family assets. Headquartered in Atlanta, GA, Provence Real Estate operates in several disciplines of real estate and offers talented leadership with decades of experience in transactions, development, and property management. Types of assets managed by the company include: apartments, condominiums/ HOAs, student housing, high-rise properties, mixed-use properties, retail, seniors housing, and military housing.