Increasing Property Value Through Capital Improvements
Opportunity: 184-unit distressed property, located in Tampa, FL just minutes from USF.
Acquired: Mar. 2016
Internal Return Rate:
An out-of-state owner, poor marketing and management, and unfavorable traffic resulted in low tenant retention and underperformance.
Successfully initiated a capital improvements plan aimed at enhancing property curb appeal, upgrading units, revitalizing exterior finishes, and rolling out several unique amenities.
- Rent appreciation by $200/door
- Occupancy at 96%
- Improved tenant retention policy decreased turnover by 60%
- Shortened vacancy cycles
“After a multitude of site-visits and a strong understanding of all capital improvements needed, our team constructed a revitalization plan that ultimately turned this property into a high-performing asset.”
CRO, Christina Alletto
SVP of Business Development
11098 Biscayne Blvd, Miami, FL 33161