VILLAGE GREEN VOICE

or many of us the turmoil in the financial and real estate markets is
unprecedented in our careers. A recession has settled in, Congress is bailing out and
assisting companies and individuals in need, and the stock market has been on what
seems a never-ending roller coaster.
Most likely you or someone close to you has felt the widespread negative effect of
these events. Many companies are tightening their expenditures, reducing staff and
curtailing anything not seen as necessary. Also, record foreclosures and tight capital
markets are affecting home purchases and/or refinances and restricting abilities to
access additional capital for growth and development.
Fortunately for Village Green, multi-family real estate in the Midwest is one of the
bright spots. Due to the lack of supply over the last five years and the troubled
economic conditions, many have become renters instead of owners, contributing to a
positive trend with our occupancies and rents in the past year. This is a much needed
improvement over the early and mid-2000’s when homeownership was at an all time
high and we were forced to discount rents and use concessions to stay competitive.
With that, there are some distinguishable opportunities ahead for Village Green to
continue our growth in 2009. As we enter the second quarter, Village Green will remain
focused on increasing rents, bringing renewals to market, merchandising, improving
economic occupancy, eliminating expenses and servicing our customer so we can
support our clients, partners and fellow associates in bringing stability to this
unstable period.
We look forward to taking advantage of the opportunities before us to help our
pareners and clients offset losses experienced in other sectors and make a positive
impact for 2009.
Sincerely,
George S. Quay, IV
President & Chief Operating Officer