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169 Units Ground-up Construction in Erie, Colorado Generating $4+ Million in Annual Revenue
- GMG assisted in managing the general contractor through a lengthy construction and building delivery period, including the coordination of all post-occupancy builder warranty punch items.
- GMG Integrated the development into an existing PUD community of single family homes.
- Over an 18 month period, GMG successfully marketed and leased up all units as they were completed.
- GMG achieved rents in excess of owner’s proforma analysis.
- GMG created a 360° virtual tour, eliminating the need to tie up a revenue-producing unit as a model
105-unit Townhome Complex in Fort Collins, Colorado
- GMG created the design specifications for a major remodel of all units, including selection of finishes and suppliers.
- Deferred exterior improvements were bid multiple times to find the right contractor. The work was completed in a timely manner at an appropriate cost.
- GMG selected and managed sub-contractors for the remodels.
- As individual units became vacant and were remodeled, GMG was able to lease them for a 15-20% increase in revenue.
- Over 90% occupancy was maintained throughout the rehab process through careful management of renewals and leasing.
167 Units in Henderson Colorado generating $3.2 million in annual revenue.
- Meeting the needs of the community's multiple owners, GMG cost effectively manages shared resources by allocating them on an as-needed basis to separately owned, but closely located properties
- GMG works closely with the individual owners' asset managers to efficiently manage their jointly owned assets.
302 Units in Denver Colorado generating $4.65 million in annual revenue
- Two years prior to sale, GMG was asked to takeover management and position the properties to sell and achieve their highest value.
- GMG oversaw a strategic interior and exterior rehab program through design and remodeling that was able to prove higher rents. This provided a new buyer with a road map to success and pushed the cap rate on trailing NOI down substantially.
- GMG managed the construction of capital improvements at all three properties. Addressing the substantial deferred maintenance made the properties well positioned to attain the highest possible selling price.
- During GMG’s management of the properties, they saw an average increase in occupancy from 87% to 95%, along with a 9% increase in rents.
- When a decision was made to sell the properties,GMG oversaw the disposition process, including dozens of tours that resulted in a significant capital gain for the owners. The properties sold at a record per-foot and per-unit price.
48 units in Arvada Colorado generating $1+ million in annual revenue
- Since assuming management of the property, GMG has maintained a 98 to 99% occupancy rate.
- Through a comprehensive maintenance and asset management program, GMG has been able to assure a highly stable revenue stream with annual increases of approximately 10%.