i kinda hate it.  it doesn't "brand" the company at all.  it'd be like ford motor company using a picture of a truck as a logo.  you need to get out of the box and not use those buildings.  living is a condo is horrible, so don't remind the clients that they will be trapped in a giant building by showing it over and over again.  the look of it borders on institutional. 
create a logo that has more emotional content, like the name of the company laid over a modern vector of a door knocker.  that way they'd be reminding the clients of "their property"  i.e. their condo/door.  not that they are sharing it with a bunch of strangers because it's more affordable than an actual home.