Maximizing Value and Minimizing Costs of Modular/Cardinal Housing
Acquired: Oct. 2014
Property: The Landings
A chance to experience and utilize the efficiencies of modular housing in Winter Haven, Florida.
70% occupied at acquisition with an apparent lack of management and property maintenance, dated and distressed externally and internally.
By gaining a thorough understanding of the design and structural engineering of cardinal style properties, unit upgrades and property revitalization became more streamlined and ultimately required less time and capital.
- Highest companywide occupancy at 99%
- Consistently achieves over 95% of GPR
- Proactive management increased overall tenant satisfaction
- Improved curb appeal received a great response from tenants
“Through acquiring a modular-style community, rehabilitation would essentially become more efficient and less costly. This was a great opportunity to understand and appreciate the design and utility of modular housing.”
CVO, David Runyon
SVP of Business Development
11098 Biscayne Blvd, Miami, FL 33161