What made it special:
- A moth-balled multi-family development by a passive investor who was unfamiliar
with the local market.
- Ability to acquire a large-scale development at a favorable price in an area with
limited rental inventory and high rental rates.
- Centrally located and near major roadways, offering excellent access for the area’s
- The property backed onto mature woodlands, offering scenic views.
- Recognized upside opportunity through re-working condominiums into
How we added value:
- Meticulously planned the building architecture to maximize views of mature
woods and natural setting.
- Provided upgraded interior features including 9 foot ceilings, granite countertops,
updated appliances and professionally-curated finishes.
- Developed amenity complex featuring community clubhouse, fitness center, and
pond front pool.
- Navigated the entitlement process to convert condos to rental apartments.
- Leveraged our operational expertise to rapidly lease the property and maintain
excellent resident satisfaction and retention rates.
- Stabilized the asset within 3 months of completion, it has been consistently fully-
occupied ever since.
- Completed permanent financing, returning a significant portion of our initial