OUR EXPERIENCE

LEASE-UP WITH POSITIONING TO SALE

 

CHALLENGES

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    Construction delays

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    Opening in Q4, slower season

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    Aggressive market rates

RESULTS

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    Building opened in November 2016 with positioning to sale

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    Property stabilized in 2017-Q2 at 83% occupancy, averaging $7.30 per sq. ft. Sub-market average for same period was $3.94 per sq. ft.

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    Property reached 92.5% occupancy by 2017-Q3, continuing to press rates above sub-market average.

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    Implemented robust marketing to create prominent online presence, and to promote the brand.

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    Established an “A-Team” of lease-up and management personnel to provide superior customer service to maintain resident retention at a high rate.

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    Property sold in September 2017 at $1,071,396/Unit, sub-market’s record high.

 

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