Cloverleaf Apartments to See Around $800K in Capital Improvements

Pennrose, a Philadelphia-based real estate development and management company, announced through a news release the addition of Cloverleaf Village Apartments to its Pittsburgh-area portfolio.

Pennrose is managing the apartment community, which sits near Curry Hollow Road on the border of Pleasant Hills and south Baldwin boroughs, on behalf of Winshaw Partners, LLC.

Pennrose will oversee approximately $800,000 of capital improvements to the apartments complex in its first year of management, according to the release, including several exterior projects and the potential rehabilitation of its interior units.

Cloverleaf Apartments, built in 1953, is a conventional, market-rate community of 148 one-, two- and three-bedroom residences spread over 36 buildings.

"With their strong market presence, quality management team and proven ability to deliver results, Pennrose was the clear choice to manage our asset in Pittsburgh," Winshaw Partners stated in the release. "Right away, the Pennrose team identified new opportunities for revenue and created value in areas beyond what we expected."

Said Pennrose Management Company President Robert J. Lampher, "We are thrilled to be part of this management partnership. I am always pleased when respected partners in the multi-family housing industry recognize the benefits of working with a management company that has a clear understanding of the owner's needs.

"I am confident that Pennrose has the ability to successfully deliver management services based on those needs."

Pennrose develops and operates living communities throughout Pennsylvania, New Jersey, Ohio, Maryland, the District of Columbia, Alabama and Tennessee.

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