Case Study

Maximizing Value and Minimizing Costs of Modular/Cardinal Housing

Acquired: Oct. 2014

Property: The Landings

Opportunity:
A chance to experience and utilize the efficiencies of modular housing in Winter Haven, Florida.

Challenge

70% occupied at acquisition with an apparent lack of management and property maintenance, dated and distressed externally and internally.

Execution

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.

Outcome

• 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

Testimonial

“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

CONTACT US

(786) 295-9568


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