Markets West
CASE STUDY
Property Summary
Location: Florida
Affordable Housing Program: State specific
Units: 300 units across 10 buildings
Lot size: 21 acres
ACQUISITION STORY
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Brand new, Class A building from well respected merchant developer.
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Reduce rents to reposition the property as workforce housing.
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Take advantage of newly created state specific workforce housing legislation.
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Market leading amenities, priced below the competitive subset.
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A natural resident base of graduate and medical students, university employees, and healthcare professionals fit our strategy perfectly.
MANAGEMENT PLAN
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Improve housing outcomes for individuals by reducing rents. Class A housing at Class B rents.
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Maintain strong occupancy (95%+) and reduce turnover by providing best-in-class housing at attainable rent levels.
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Implement proactive maintenance program and bring in institutional management (Willow Bridge).