Background and History
Sermar Management was established in 1981 for the purpose of organizing investment partnerships to acquire multi-family residential projects. The company serves as the managing general partner for the partnership and as the management agent for the property, under contract to the partnership. To date, thirty one partnerships have been organized, twenty five of which still operate, with property valued at over seventy million dollars. The properties consist of twenty-four apartment communities. Seven of the properties have been developed as low income housing under the Federal Tax Credit programs. The majority of the properties are in suburban locations in New York State. New acquisitions over the last two years are in the Lima and Syracuse areas of NY State.
Sermar Management has its headquarters in the Piano Works building in East Rochester, NY. There are six members of the office and headquarters management staff and thirty three full-time field personnel located at various sites.