The River Communities RENOVATION CASE STUDY

Property Name: The River Communities

Location: Atlanta, GA

Units: 708

General Description

In October, 2005 Greystar purchased a portfolio of apartment communities in Atlanta, GA collectively known as the River Communities. The strategy for the portfolio primarily consisted of exterior renovations including a complete residing of all buildings, extensive landscaping upgrades, and upgrade on common area amenities with the end goal of the exterior work being the presentation of an institutional quality asset. Minor work related to unit interiors was also performed.

As a result of the renovations performed and improved onsite management, Greystar was able to grow effective lease rates by approximately 16%, more than doubling the submarket growth rate of 7% during that same period. As a result, Net Operating Income at the property increased by approximately 45%.

Before

River Communities Before River Communities Before

After

River Communities After River Communities After

This website is for informational purposes only and does not constitute an offer, solicitation or recommendation to sell or an offer to purchase any securities, investment products or investment advisory services. This website and the information set forth herein are current as of July 1, 2016 and are not intended to provide investment recommendations or advice.