About PMC

Since its inception in 1986, Providence Management Company LLC (“PMC”) and its principals have been steadfastly guided by an objective to achieve superior investment returns from:

• a willingness to be innovative and creative in problem solving,
• fostering an intimate understanding of each property’s operation, and
• ethical treatment of and clear communication with all parties.
  

The elements of this philosophy come together in our “Managing To Exceed Expectations” motto that serves as a touchstone to guide the company. PMC has maintained a standard of exceeding expectations by bringing together a highly skilled team of professionals who share these values and are dedicated to achieving and exceeding goals beyond the ordinary.

PMC and its principals have a successful history of both single-asset and large portfolio investment. In combination, the principals have acquired, managed, and profitably sold real estate assets valued at nearly $1 billion comprising 20,000 multifamily units, 6,000 acres of land, and more than 500,000 square feet of commercial space. To realize the investment potential in these assets, PMC’s principals repositioned apartments, executed horizontal and vertical development of class A business parks, and master-planned resort communities, as well as developed corporate headquarters and special-purpose technology buildings. These experiences touched nearly every state in the nation.

The largest transaction was an acquisition of a $139 million 26-property multifamily portfolio located in seven states involving 5,000 units. The PMC succeeded in acquiring the portfolio by raising $45 million of equity from ING and placing a $115 million first mortgage with Fannie Mae. The company successfully managed and profitably executed an extensive $35 million capital improvement program and repositioned these assets. Its team of dedicated professionals improved the site personnel by offering a competitive benefits and training program, installing on-site real-time software systems, and instituting a variety of asset management disciplines. Implementing these programs significantly improved operating decisions as well as the timely preparation of detailed monthly and annual audited financial statements. The company’s intimate knowledge of the specific markets, as well as the multifamily investment environment, made possible a disposition program that maximized value and investor profits. Over the seven-year holding period, the successful repositioning and management of these assets resulted in investment returns ranging from upper-teens to mid-twenties.

PMC benefits from the long-term professional careers of its principals, who have experienced a number of real estate cycles. This experience is vital to guide the company and its assets through the peaks and valleys that inevitably occur in the market.