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NEW ADDITIONS

Marathon Welcomes Lake Orono Estates

At the beginning of 2007, an owner with whom we have enjoyed a business relationship for many years tapped MMI to manage his 36-unit property in Elk River, Lake Orono Estates.

Lake Orono Estates is located just across the street from Lake Orono. Residents are just a step away from the lake's beach and park facilities. The apartment homes offer unique floorplans, with an angled living room and features like built-in buffets. Garages are available.

The owner has upgraded the units, and continued with several building improvements, including window replacements. Within a short time of managing Lake Orono Estates, MMI improved occupancy from 73% to 100% and increased rates by 10%. We are thrilled to be given the opportunity to manage this fine community.

Tonkaway Apartments Returns

We are pleased to announce that we are once again managing Tonkaway apartments in Excelsior. Though the former owner had decided to make a managerial change in May, the new owners Tonkaway Partners II, immediately re-hired Marathon Management to direct operations in October, 2008.

Tonkaway Apartments offers spacious two-bedroom apartment homes in a quiet, well-cared for community. Residents enjoy the extra details like a built-in buffet in the dining area, and screened porches. Tonkaway provides an outdoor swimming pool, laundry facilities on each floor, and storage lockers. Garages are also available.

We are delighted to once again be serving the residents of Tonkaway Apartments, and its new owners.