Acquired in 2022, Landings at North Ingle epitomizes our ability to identify hidden value in well-located assets. Despite its prime location and solid tenant base, the property's interiors had not seen meaningful updates in decades. Our $2.5M investment in comprehensive unit renovations, including upgrades to flooring, fixtures, cabinetry, appliances, and lighting, has transformed the property. This strategic repositioning has maintained strong occupancy and collections while meeting our revenue targets.
Project Milestones:
- Renovation program completion anticipated one year ahead of schedule
- Achieving at or near projected Gross Potential Rents
- Maintaining robust renewal rates and collection performance throughout the renovation process
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