Start Up Distress
A two-community portfolio situated in the Midwest encountered a setback during its third year of development, coupled with an unusually elevated level of resident dissatisfaction. The REIT that owned these assets reached out to NAS with a request to conduct our proprietary audit. Beyond the audit the engagement also included an evaluation of the competitors through site visits and assessments.
Upon the audit completion, NAS collaborated closely with the management team to implement a comprehensive array of improvements targeting the underperforming sectors. Concurrently, we orchestrated the implementation of essential sales and marketing strategies. Despite an investment of less than $10K in enhancements, the impact was profound.
Upon the culmination of our involvement, even though one community had sustained full occupancy for three consecutive months, the REIT opted to extend our engagement. Notably, they devised plans for expanding one of the campuses, with NAS participation embedded at every tier of the expansion process.