The Mural at 606 Freeman St. in Orange is a collection of 103 studio, one-bedroom and two-bedroom apartments. — Rendering courtesy: Reynolds Asset Management
By Joshua Burd
Reynolds Asset Management has launched a property management arm to support its fast-growing portfolio of apartments in the Garden State and beyond.
The firm, which is based in Paramus, said its Novara Living platform began operations in July when it took on management of some 1,500 units across 10 properties in New Jersey, New York, Louisiana and Texas. That includes everything from leasing and resident services to maintenance, marketing and financial reporting, Reynolds said, noting that the integrated approach will focus on hospitality and long-term retention for tenants while delivering institutional-quality reporting, transparent communication and hands-on asset management integration aligned with ownership’s business plan.
“The launch of Novara Living represents a natural and exciting evolution for our platform,” said Matthew Earl, chief operating officer of Reynolds Asset Management. “By bringing property management in-house, we are able to align operations directly with our investment philosophy — delivering a best-in-class living experience for residents while also ensuring disciplined, transparent execution for our investors. Novara Living gives us the ability to move with greater precision, accountability and care across our communities as we continue to scale in key growth markets.”
Reynold’s portfolio has grown in recent years with the completion of new development projects in its home state as well as notable acquisitions in Louisiana and elsewhere. Looking ahead, Novara Living plans to expand its services to additional properties in high-growth markets.
Reynolds buys 360-unit rental portfolio in Texas, its latest out-of-state acquisition
