GRAND BAY APARTMENTS: FROM CRISIS TO COMMUNITY
The Challenge We Inherited
On April 1st, 2024, we stepped into what many would consider an impossible situation. This multifamily apartment complex had been freshly constructed but abandoned by success, sitting at 30% occupancy after cycling through two previous management companies in less than a year. The property was plagued with construction deficiencies, 24 units sat completely non-operational and unleasable, and the mortgage had fallen into delinquent status. Monthly income barely reached $30,000, and resident satisfaction was at an all-time low.
The First 12 Months: Building Momentum
We didn’t just manage this property, we transformed it. Our team immediately tackled the construction issues head-on, prioritizing the operational units while developing a strategic roadmap for the 24 down units. Through meticulous attention to resident needs, aggressive marketing, and delivering on every promise, we achieved what seemed impossible:
By March 2025, occupancy had surged to 89%, nearly triple where we started, with the majority of remaining vacancy concentrated in those 24 problematic units. Monthly income skyrocketed to $378,000, an incredible 1,160% increase. Even more remarkable, we maintained a 5-star Google review rating, proving that operational excellence and resident satisfaction went hand in hand.
The Final Push: Achieving Stabilization
Rather than accepting 89% as our ceiling, we executed an ambitious renovation plan. Each of the 24 down units was gutted, repaired to like-new condition, and brought to market. The results spoke for themselves:
By June 2025, just 14 months after taking over, the property reached 96% stabilized occupancy, a standard that defines a thriving, fully operational community.
The Numbers That Matter
Occupancy: 30% to 96% (220% increase)
Monthly Income: $30,000 to $378,000 (1,160% increase)
Operating Expense Ratio: Maintained below 30% of income
Resident Satisfaction: Consistent 5-star Google rating
Mortgage Status: Restored from delinquent to current
Unit Recovery: 24 non-operational units fully renovated and leased
Sustained Performance: High 90% occupancy maintained post-stabilization
The Legacy
This isn’t just a story about numbers, it’s about proving that with the right team, strategic vision, and commitment to excellence, even the most distressed assets can become thriving communities. We didn’t just turn around a property; we created a home for hundreds of residents who now trust us with their most important investment: where they live.
Today, this property stands as a testament to what’s possible when operational expertise meets genuine care for residents and relentless execution. From the brink of failure to a shining example of multifamily success…all in just 14 months.
