Proven Results at Tanager - A Creative Approach
01 The Opportunity
The long-term multifamily development plan for Downtown Summerlin required our team to create a brand consistent with Aviation Row standards that would transcend time and truly represent this new standard of urban living.
02 The Solution
Pre-leasing was done virtually through leading-edge technology, and our marketing efforts were supported by a customized app and highly service-oriented team who created robust resident programs, community events and retention efforts.
03 The Results
- Achieved rents 10.4% higher than underwritten expectations with minimal concessions and accelerated leasing velocity
- Current market rent is 21.4% higher than underwritten expectations at $2.21 per square foot
- Minimized losses and maintained a collection rate of 98% during COVID-19 by keeping the integrity of the rent roll
- Minimized expenses by enhancing operational efficiencies, leveraging our national purchasing power and implementing strategic leasing technologies to achieve a year-to-date favorable variance
Multifamily Property Management that Drives Value