case studies
Eagle Point
Eagle Pointe Apartments is a 223-unit complex located in Durham, North Carolina near the research triangle. The asset performed very well over the management period. Providence executed a strategic business and management plan addressing the many issues ownership was facing. Eagle Point was a case that required strong management and interior value-add improvements which Providence oversaw. This combination boosted NOI making Eagle Point a success.
NOI was increased 41% within 9 months.
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WoodStream
Located in Fayetteville, North Carolina, WoodStream is a 202-unit garden style apartment community. The asset performed very well over the management period. WoodStream was an extremely successful project for Providence and in a military tenant dominated market such as Fayetteville, NC management is integral. Through focused management and upgraded interiors WoodStream was one of Providence’s most successful management periods to date.
NOI was increased 175% over the managment period.
Waterford Landings
Located in Birmingham, AL in the Hoover Sub-market, Waterford Landings is a 220-unit garden style apartment community. The asset performed very well over the management period. Providence oversaw the installation of several upgrades, both internally and externally. Through focused management and an executed business plan, Providence was able to boost NOI and surpass expectations.
NOI was increased 13% through management period.
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Parham Pointe Apartments
Parham Pointe is a 184-unit multifamily property located in North Little Rock, AR. Providence was able to implement the planned project rehab, push rents, and follow a strategic business plan to ultimately exceed NOI expectations.
NOI was increased 39% through the management period.
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Lenox Apartments
The Lenox is a 190-unit multifamily property located near Augusta University. Providence Property Management oversaw $620K worth of improvements into the property, increasing rent and NOI. Shortly after the transition, tenant issues began to arise. Providence acted swiftly to remediate the issues. Through a combination of strong management and teamwork with local officials, Providence was able to succeed in maintaining a high occupancy and low delinquency ultimately increasing NOI. Our goal to maintain a safe and desirable place for all to live while delivering strong returns was achieved.
NOI was increased 43% through the management period.
Wellington Manor Apartments
Wellington Manor is a 312-unit multifamily property located in Birmingham, AL. Providence was able to implement the planned project rehab, push rents, and follow a strategic business plan to ultimately exceed NOI expectations.
NOI was increased 53% through the management period.
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