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JEFFERSON - Case Study |
Mission
- Take over a building that has been vacant for five years due to construction
and environmental issues.
- Coordinate the lease up effort to stabilization while undergoing major
renovation.
- Overcome historical property stigma.
- Communicate operational issues with investor partners, lending partners and
ownership.
- Assist ownership with development of operational marketing strategies and
business plan.
Results
- Effectively worked with construction to turn and release renovated units
over a 24-month period.
- Achieved higher than projected post renovation market rents ($400 per unit)
- Achieved higher than proforma collections (35% Increase) and Net Operating
Income (51% Increase).
- Maintained stable property occupancy while undergoing renovation.
- Enabled ownership to refinance short term construction financing with long
term fixed rate debt.
- Successfully repositioned the property as a Class "A" market leader.
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