Loss: Missed opportunity by Developer
Cause of Loss: The lobby and common areas were only partially completed by the developer, preventing the new Owner property from achieving “Best in Class” status and falling short of potential occupancy rates.
Solution: Redress all property amenities, including streetscape, lobby/gallery, fitness center, clubrooms, pool-deck and business center.
Result: The Owner achieved steady occupancy rates between 95%-99% while also eliminating all forms of rent-concession.
Property Manager: Greystar
Lender:
