The Challenge: The property was originally developed as a LIHTC community, owned by 75 disparate entities, and spread over 4 homeowner associations, and therefore performing poorly due to lack of cohesive management.

Strategy: Reposition the asset by consolidating the property into one market rate community, under one ownership and management. To capitalize on the uniqueness of being an all townhome community and having a quaint surrounding.

The Outcome: Completed a full renovation of the property’s exterior, and nearly 50% of the interiors. Through creating an attractive and desirable community atmosphere, Brookhaven succeeded in doubling the rent roll, while maintaining a near-100% occupancy. The property value tripled over the ownership and management of Brookhaven.

The Challenge: Aging 70’s property, with deferred maintenance, poor curb appeal, and low resident retention.

Strategy: To reposition the asset by capitalizing on the property’s unique environment of a quiet parklike setting, and its close proximity to the area’s largest retail and entertainment center. Enhance the quality of the residents’ living experience through adding to the property’s amenities and by a moderate renovation of the apartment interiors and exterior finishes.

The Outcome: Raised effective rents by nearly 25%, while maintaining consistently high occupancy, resulting in an increased property valuation of over 50%.

The Challenge: 70’s property, operating on an aging boiler/chiller system, and master metered for gas and electric. Facing a constant struggle to maintain occupancy due to numerous deferred maintenance issues.

Strategy: Take advantage of its desirable location with its close proximity to the city’s main traffic arteries and shopping districts. Reposition the property where it will successfully compete within the submarket through a complete facelift, renovation of its interiors, revamping all of its mechanical components and upgrading of its utilities.

The Outcome: Through a multimillion-dollar renovation, Brookhaven commissioned the installation of new kitchens, plank flooring, HVAC, siding, roofing, windows, landscaping, lighting, and electrical service throughout the property. In just 18 months the effective rents have increased by nearly 20%.