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Stories

Achieving Impressive Rent Growth for a Build-To-Rent Community

Learn how our multifamily specialists achieved management and investment strategy goals for a 69-home community.

01 The Opportunity

Cushman & Wakefield was awarded management of six D.R. Horton communities in their single-family rental, build-to-rent portfolio, which included Rock Ridge Estates in Pensacola, Florida. Our collaboration on this 69-home community began early in the development cycle, allowing our property management team to help influence interior finishes, marketing and branding.

02 The Solution

As the Rock Ridge Estates development progressed, Cushman & Wakefield was able to successfully lease up the community within seven months and achieve stabilization. In March of 2021, our team was again engaged by D.R. Horton to develop an exit strategy for the community and in late April, Cushman & Wakefield brought Rock Ridge Estates to market. Washington D.C.-based Fundrise acquired the property in mid-June of 2021, retaining Cushman & Wakefield as property manager.

03 The Results

  • Under Cushman & Wakefield’s management, Rock Ridge Estates achieved 12.29% rent growth in the 11 months prior to the sale in June 2021
  • The property’s occupancy increased to 93.7% during a two-year period
  • Revenue increased by 3% in the same timeframe

 

Multifamily Property Management that Drives Value

Our platform offers a full suite of residential property management solutions that help clients achieve maximum return on their property or portfolio. We have the scale, depth of experience, and established operating procedures and best practices to champion each property’s performance and highest potential.

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