Homeowner & Condo Management

The company’s focus with regard to condominiums is the marketing and sales of two condominium projects in which the principals of PPLLC are involved along with resales of other local units.

In August of 2004, principals of PPLLC purchased a two year old, 56-unit apartment project in Auburn and converted the units for condominium use (The Condos @ Millcreek). The project was basically sold out by June of 2005 and the company is now handling resales.

In early 2005 the company signed a listing agreement with a 3rd party developer to market and sell 84 units of an existing 184-unit apartment project that is being converted for condominium use. The condominium conversion actually occurred in May, 2005 with only 25 being made available for August 2005 occupancy. This project is sold out and the company is handling some resales.

In May, 2005 the principals of PPLLC acquired Magnolia Plaza, a 5-story, 88,000 +/- square foot building in downtown Auburn. The building contains two floors of commercial space and three floors of apartments. The entire building is in the process of being converted for condominium use. The three floors of apartments (42 units) are being renovated for luxury condominium use. To date approximately 70% of these units have been sold. As of this date (July 2007) construction is complete and the project is roughly 75% sold out.

In May, 2006 principals of PPLLC acquired Sweetwater Apartments and converted the property into condominiums (Longleaf Villas Condominiums). The units will appeal to first-time homebuyers as well as students and investors in the local market. At present the project is around 60% sold out.