1970's construction with significant deferred maintenance evident with declining appearance in an emerging Class A-/B prime location adjacent to Denver’s Cherry Creek Sub-market. Properties are located within 5 miles of the thriving Central Business District of Denver and just over a mile from the prestigious Cherry Creek Shopping Center.
This was a neglected, decayed 1960’s product with significant deferred maintenance but located in a rapidly emerging market close to the Denver Central Business District. Occupancy was down to 80% when we purchased the property. This prime location of Denver’s Cherry Creek sub-market is strategically adjacent to our Rise and The Edge multi-family properties.A major rehab of interior, exterior, and public areas to upgrade from tired Class C to modernized Class B. We are filling a niche providing Class B product where there was extremely limited supply. The adjacency of our Cherry Creek properties allows additional efficiencies of operations and management. Net Operating Income (NOI) has increased by approximately 206% in less than 4 years.
Extreme shortage of housing for oil workers in a rural landscape with limited building infrastructure to accommodate huge demands. This project is located in Williston, North Dakota. Due to hydraulic fracturing activities, the Bakken has become a micropolitan area (a population cluster with fewer than 50,000 people).180 units were built (phase I) before the oil price crash. Phase two was not completed.
A gap in availability of Class B/C product in Aurora Colorado, a growth area of Denver conveniently located proximal to Highway 225 and 18 miles to downtown Denver.A niche was filled by transitioning the properties from 1980’s stock to updated appeal with complete re-brand, redesign, washer dryer installations with requisite engineering modifications in each unit and gating of community. Net Operating Income (NOI) increased more than 240% with robust increase in rental income and tenant demand.
Proximity to the Los Angeles ports, this multi tenant industrial commercial park suffered from previous poor asset management, loss of occupancy and debt overload. GCG acquired this well-located multi-tenant facility at a deep discount to market. Upon acquisition we renovated to accommodate altered market dynamics. Additionally, we re-branded, and re-financed with strong cash flow, all which led to occupancy fulfillment with improved credit tenants.