The following article appeared in the Spring 2019 edition of The MMHA Advocate Magazine
We would like to congratulate Quest Management Group for being awarded the MMHA Making a Difference Award for the 4th Quarter! We received many great submissions worthy of recognition for the Q4 Making a Difference Award. However, selecting a winner was a no brainer. Quest supported 11 causes in 2018 through The Quest Cares Program. The Quest Cares team, comprised of volunteer Quest employees has been actively involved in giving back to the community and has truly been making a difference! Here are a few of the causes the company supported for 2018:
- Run Wild for Autism - Pathfinders for Autism
- Baltimore Hunger Project
- Suzan G. Komen Race for the Cure
- Horizon Walks - Horizon Day Camp
- Out of the Darkness Walk- American Foundation for Suicide Prevention
- Arthritis Jingle Bell Run- Arthritis Foundation
- Paul's Place
Congratulations to Quest Management Group, we are proud of your philanthropic efforts and of your commitment to giving back! Keep up the good work!
About the Quest Cares Program:
The Quest Cares Program is a charitable way for Quest employees to participate in local initiatives to better our local market. Initiatives are involvement in causes that are inspiring to the Quest team. Causes include giving back to local communities via donations, fundraising events and volunteerism via team bonding activities. The program was launched in 2018, hosts 2+ events per month and was the recipient of the The Maryland Multi-Housing Association's "Making a Difference" Award.
For more information on The Quest Cares Program, contact Alexandra Ahlfield at Alexandra@liveqmg.com
Baltimore Award Program Honors the Achievement
BALTIMORE November 28, 2018 -- Quest Management Group, LLC has been selected for the 2018 Best of Baltimore Award in the Property Management Company category by the Baltimore Award Program.
Each year, the Baltimore Award Program identifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and our community. These exceptional companies help make the Baltimore area a great place to live, work and play.
Various sources of information were gathered and analyzed to choose the winners in each category. The 2018 Baltimore Award Program focuses on quality, not quantity. Winners are determined based on the information gathered both internally by the Baltimore Award Program and data provided by third parties.
About Baltimore Award Program
The Baltimore Award Program is an annual awards program honoring the achievements and accomplishments of local businesses throughout the Baltimore area. Recognition is given to those companies that have shown the ability to use their best practices and implemented programs to generate competitive advantages and long-term value.
The Baltimore Award Program was established to recognize the best of local businesses in our community. Our organization works exclusively with local business owners, trade groups, professional associations and other business advertising and marketing groups. Our mission is to recognize the small business community's contributions to the U.S. economy.
SOURCE: Baltimore Award Program
Baltimore Award Program
Quest Holdings, LLC grows multifamily portfolio to 22 properties and swells to over 6,000 units.
Quest Holdings, LLC, a leader in the mid-Atlantic family market, has acquired Arcadian Apartments, a 432 unit garden apartment community in the Baltimore-Washington Corridor from Investcorp International, Inc.
The property, at 13615 Colgate Way, Silver Spring, MD 20904, is adjacent to Interstate 95, the Inter-County Connector Route 200 and Columbia Parkway 29. The region's top employers: University of Maryland, College Park, JHU Applied Physics Lab, Fort Mead/ NSA/Cyber Command, Towne Center at Laurel, Verizon HQ, White Oak Federal Research Campus, the Mall in Columbia and Westfield Wheaton Mall are all within 13 miles of the property.
Quest plans to execute a value-add investment strategy focusing on exterior cosmetic improvements and interior unit upgrades including installation of decorative mantles, additional lighting, granite and tile backsplashes in the kitchens and bathrooms.
“We are excited to enter the Montgomery County market and bring Arcadian Apartments into our investment portfolio. With the proximity to the Marc train and accessibility to major highways, the Baltimore Washington corridor is one of Maryland's most desirable residential locations. We intend to capitalize on the planned improvements which will enhance the property and add value for our investors.” said Jason Reitberger, Principal of Quest Holdings, LLC and CEO of Quest Management Group, LLC.
This marks the first transaction for Quest in 2018 and the latest since their $328M 2016 acquisition in Prince George's County of 2,490 units, a JV to purchase the largest portfolio of apartments in MD sold that year.
About Quest Holdings, LLC:
Founded in 1999 as a family operated real estate management firm, Quest has evolved into a fully integrated, multifaceted organization with a portfolio valued over $700M. With steady, strategic growth of its portfolio and management infrastructure, Quest currently owns and manages over 6,000 units and is recognized as a leader in the Mid-Atlantic multi-family market.
Quest's relationship with its investment partners is based on a shared desire to achieve long-term, stable cash flow and a strong alignment of interests. With intimate knowledge of the mid Atlantic market and a lean, flexible investment team, Quest has executed transactions in excess of $300M.
Our management company, Quest Management Group, LLC, is recognized as a leader by employing industry best practices to attract and retain high-quality, talented employees. Quest currently employs over 120 people including onsite personnel, regional managers, asset managers and a full back office accounting team.
February 6th, 2017
Sloppy turns, exhausted employees, and unhappy residents can be a nightmare for those of us in property management. Quest Management Group was facing these same issues, but by enabling our employees with the right technology, we turned our bottom performing property into an award-wining, profit-generating machine. Keep reading to see how…
As the VP at that time, I took a step back and started to ask how I could enable our employees to take this underperforming property and turn it into not just one that made us money, but one where the employees were actually thrilled to come to work.
What did we do? Did we hire a big consulting company to review our procedures and reduce delinquency by a percent or two? Not even close. Today this very same property is now having its best year ever. We're stable at 97–98 percent occupancy, delinquency is around 4–5 percent and it is beating its Net Operating Income (NOI) budget by 11.8 percent—and after its end-of-year, looks to be closer to 12.3 percent!
Acquisition of five property apartment portfolio in Prince George's County
Prince George's County, MD - BDMG, Inc. and Quest Holdings, LLC in a partnership with GMF Capital, LLC are pleased to announce the recent acquisition of a five property, 2490-unit Class-B constructed apartment portfolio located throughout Prince George's County. The portfolio consists of Cypress Creek, now Landmark Apartments, a 760-unit community located in Hyattsville; Cambridge Apartments at New Carrollton Station, now Hilltop Apartments, a 466-unit community in New Carrolton; Summerlyn Place, a 424-unit community located in Laurel; Toledo Plaza, a 242-unit community in Hyattsville; and Penn Landing, now The Avenue, a 598-unit community located in Forestville.
Today, BDMG and Quest own and manage more than 9,000 apartment units in Maryland. Since entering the market in 1999, Baltimore-based, BDMG has been focused on Prince George's County. “We continue to be attracted to Prince George's County and its surrounding area as it has emerged as one of the strongest apartment markets in the country with its growing, diversified economy due to its proximity to federal government agencies and supporting contractors,” observed Avi Bernstein, CEO of BDMG. “With the expansion of its mass transit system and pending relocation of the FBI, the county will continue to attract jobs and be a desirable place to live for years to come.”
Pikesville, MD-based Quest Holdings, LLC has been active in the Maryland Class-B multi-family investment market since 1999.
“Quest is very excited about the acquisition of five well-constructed, high quality assets in thriving locations throughout the county. We feel that the purchase prices represent a good basis for our investment partners and further represent discounts to both replacement value and sales of other existing Class B multi-family communities in the region. We plan to add further value by implementing cosmetic upgrades and improving the living experience of the residents,” noted Jason Reitberger, CEO of Quest. “Prince George's County continues to be a strong market performer with continued prospects for future growth. We look forward to continuing to expand our footprint in the area.”
For more information, please contact Jason Reitberger at firstname.lastname@example.org.