A. Jenning Properties Will Withdraw from Receivership of Ely Walker Lofts

For immediate release – December 11, 2023

On behalf of myself, my associate Adam Felmlee, and the entire A. Jenning Properties team, we are honored that our reputation in the field of condominium and homeowners association management has led to our company being entrusted with the appointment as the receiver for Ely Walker Lofts by Judge Stelzer. We understand the challenges the condominium owners are facing and their desire to restore their historic residence and its condominium association to being a safe, well-maintained, financially stable and highly desirable place to call home.

Several months ago Adam Felmlee and I engaged in talks with the parties involved representing the interests of the owners of the building. We were unsure at the time if we could dedicate the time and resources necessary to accept this receivership and bring about the necessary changes, but we were willing to explore the possibility. Since those initial conversations our portfolio of condominiums and HOA’s under our management has grown, and we are doing our best to keep up with our obligations to the communities we already serve. After careful consideration, we believe the needs of Ely Walker Lofts exceed our ability to effectively address. We must decline this receivership at this time, and we will be withdrawing from this appointment.

I do not wish to cause harm to the case of the concerned condominium owners who have fought so hard to get to this point. However, there was clearly a miscommunication in our readiness and willingness to take on this responsibility prior to Judge Stelzer’s ruling. At no point had we ever extended or accepted any contractual offer, expressed or implied, to assume this responsibility, and we did not become aware of our appointment until we read it in the news like the rest of St. Louis did. After accepting the responsibilities to provide property management services for other HOA’s and condominium associations in recent months since those initial conversations, we are simply no longer in a position where acting as the receiver for Ely Walker Lofts is something we are effectively capable of.

We have provided a recommendation for one of our competitors to the parties involved that we believe would be in a better position to handle these challenges than we are. We wish the best to the condominium owners of Ely Walker Lofts and hope through a more prepared receiver they can bring about the changes they wish to see for their building and the community that resides within it.

Sincerely,

Adam Jenning, CMCA®, AMS®
President | Broker
A. Jenning Properties, Inc.
Phone/Fax: (314) 380-3100
Email: adam@ajenning.com