Organizational Announcement

We are very pleased to announce a major change which is going to happen as of July 1st. Specifically, we will be launching our new management company, Signature Community Management, LLC (SCM). This new company will be assuming the responsibility for managing all of the properties formerly managed by The Neighborhood Group and Green Street Management. So, as of this date The Neighborhood Group will no longer manage the properties owned by NWJ Companies and their affliaties and Green Street's operations will be merged into SCM.
The reason why this new company was formed was due to the tremendous growth of NWJ Companies, their future plans to become a billion dollar company, and consistancy of the Signature Community brand and its model of Customer Service. For this growth to continue, we believe we need to manage the properties directly through a subsidiary that we control.

So what does this mean to you personally? Most of The Neighborhood Group employees assigned to our properties will be offered employment with Signature Community Management. We are currently reviewing everyone’s performance and the outcome of this will determine who is receiving offers. You will know this very soon.

As far as your compensation, we will make sure that your salary is exactly the same as before. And we are working on the benefit programs, which we will ensure are equal to what you currently receive.

Most of all, what this means to you is tremendous opportunity. You will become part of a growing and thriving organization that is on the cutting edge of building a national brand, Signature Community. This will create for you the opportunity to grow in your career by learning more, assuming more responsibility, and hopefully gaining promotions.

Along with this organizational change, we have hired Nick Moos as the Vice President of Property Management. Nick’s new position with Signature Community Management is to help lead the company by working closely with the regional property managers, implementing training programs, standardizing operating procedures, and much more.

Nick will report to Michael Greenzang, President of Signature Community Management. And the new company, will report to us and be managed by Brian Kroker.

There is also a change relating to Green Street Management, the organization which manages our properties in Philadelphia, Baltimore, Richmond and DC. This organization will become part of Signature Community Management. For the people employed by Green Street this represents mostly a name change.

There is much more information to share with you and we are sure that you will have many questions. So we plan to have a company wide conference call on Thursday, May 29th at 1:00 PM (Eastern Standard Time). Here is the call in information : 712-580-6300, passcode 807247#

We realize at times like this information is very important. So we have created a new blog http://signaturecommunitymanagementtransi.blogspot.com/ which will be updated regularly with further information. Please check it regularly.

Finally, we want to express our sincere thanks and appreciation to Bill Charcut, Mike Napovanice, and everyone at The Neighborhood Group. We know that without their support, passion, and expertise, we could not have reached this important milestone. It is because of the excellent work The Neighborhood Group has provided which got us to this important juncture. Thank you very much to everyone.

Nick Jekogian, III, President & CEO, NWJ Companies.
Brian Kroker, Vice President- Asset Management, NWJ Companies