Tennyson Courtyard Apartments
Green Street Realty took over the management of Tennyson Courtyard in September of 2010. The 96 unit complex was owner managed and suffering from high vacancy rate and numerous units that were unfinished and in the construction process. When we took over in September of 2010, the complex was at 58% occupied. We immediately changed the onsite staff, ramped up the marketing efforts and were 85% leased by January of 2011. We reached 98% occupied in the summer of 2011 and increased the monthly rent roll by $25,000 per month. The property is currently stablized and the owner was able to refinance his loan to a favorable rate with the inceased occupancy.