VALUE- ADD TIMELINE

4 months (phase 1)

PROPERTY DETAILS

66 units

TOTAL GROSS AREA

74,500 sq. ft.

INCREASE IN REVENUES

+64%

1575 SUMMERHILL

1575 Summerhill Ave, Montreal, Canada

10:24 AM

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1575 SUMMERHILL
OUR CHALLENGE

Located in Montreal's Golden Square Mile, right next to Concordia University, 1575 Summerhill was facing high inoccupancy (40%) as well as low rental rates, disorderly occupying tenants and terrible online reviews from negligent former management, presence of vermine and low maintenance. The challenge was to optimize the property without necessitating high levels of capital expenditures, cycling through tenancies, leasing up to a new product positioning that would reflect the value of the real estate, all over the 4 month summer period.

OUR SOLUTION

An intensive patch and cleanup of the units was performed on rolling 7 day & night shift schedule in order to deliver desirable units for September 1st. Fox's proprietary marketing and leasing methodology generated substantial lead volumes and the team leased virtually (similar to a new-build lease-up) allowing on-site teams to tackle the physical turnaround without any touring or nuisances. A variety of unfurnished, semi-furnished and fully furnished units we represented in order to capture all different price-points for new-to-Montreal incoming residents. Finally, Fox's property management methodology allowed for managing theproperty below industry operating expense benchmarks, without sacrifying customer experience. Summerhill residents benefit from a 24/7 concierge call center, hospitality-minded available on-call personnel, weekly community newsletter, and less than 48h maintenance request completion times.

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1575 SUMMERHILL
1575 SUMMERHILL
NOW IT'S YOUR TURN!

Take your real estate development to the next level! 
Contact us today to learn how we can help you achieve your revenue goals in order to stabilize your asset quickly.

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