Management Procedures for Increasing Profits
Opportunity: Stabilize a distressed community in Orlando, Florida; a city with impressive property prices, increasing rent appreciation, and below average cost of living.
Acquired: Oct. 2014
Internal Return Rate:
Rolling Hills was a 240-unit property confronted by low occupancy, below-market rents, problem tenants, and neighborhood crime. These factors implicated a need for a creative and tactical approach to re-positioning.
Upon takeover, problem tenants were immediately addressed, the Crime Free Housing Authority implemented, and improved site maintenance helped revitalize property health.
Enhanced curb appeal, new management/protocol, and effective capital improvements drew in more favorable demographics and brought the property to stabilization.
- Rent appreciation by 190/door
- Expense reduction by 35%
- Occupancy at 96%
- Class reposition from C to B
“We knew that with a strategic rehabilitation plan, Rolling Hills would undergo a complete physical and financial transformation.”
Michael Davalos, SVP of Business Development
SVP of Business Development
11098 Biscayne Blvd, Miami, FL 33161