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Renovation numbers continued their uptick in 2011 following a year of growth in multifamily property portfolios

By Derek Mearns, www.multifamilyexecutive.com, May 4, 2012

 

Columbia, Md.-based Fincor Construction (No. 9) saw a nice bump in its renovation numbers in 2011.

The company adapted its approach to rehab last year to help it rebound from the halt in production it faced in 2009. “After demand fell off a cliff, we really took on more occupied renovations than we have in the past. It’s starting to become our niche,” says Fincor senior vice president Michael Finn. According to Finn, the company renovated nearly triple the units in 2011 that it had the previous year. With occupancy rates nationwide at all-time highs, and the majority of Fincor’s business being interiors, the company’s new approach to renovations has positioned it to further increase the number of units it rehabs through the end of 2012.

 

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