PROPOSAL FOR PROPERTY MANAGEMENT SERVICES PREPARED FOR
Mr. Michael Hernandez Sedgwick Properties
CONTENTS PAGE
Your Project
7
About Us
17
Property Management
25
Relevant Experience
33
Tricap Residential Group
312 725 9440
954 W. Washington Blvd. Ste 700
info@TricapRes.com
Chicago, IL 60607
TricapRes.com
INTRODUCTION Dear Mr. Hernandez, On behalf of Tricap, thank you for the opportunity to present this proposal for property management services for your new apartment development in Bucktown. As you may be aware, we currently manage 725 apartments in Chicago and possess an in-depth knowledge of the market. Our local staff includes industry veterans at all levels of employment including managers, leasing specialists, and maintenance professionals. Our use of leading technology services allow us to provide measurable, quantifiable results for our clients, and the dedication, professionalism, and work ethic of our staff is second to none. We are pleased to present this proposal for services and hope you will consider our firm for your exciting investment. I look forward to discussing our proposal further in the near future.
Sincerely,
TRICAP RESIDENTIAL GROUP
Bryan Pritchard President
DRAWING UPON OUR ROOTS IN PROPERTY ACQUISITION AND IMPROVEMENT, WE EMPLOY AN OWNER’S PERSPECTIVE TO CRAFT A TAILORED SOLUTION FOR YOUR PROPERTY. WHAT SETS TRICAP APART IS WHAT FUELS YOUR PROJECT SUCCESS: Owner’s Perspective No matter what the assignment, we manage each property as if it were our own. We look at each property acquired not only with a sense of professional pride, but personal satisfaction.
Accountable and Committed Team Tricap isn’t just accountable to the quality of the work we provide, but also the character of the team that acts as your liaison for each property. It’s for this reason that we make sure to hire only the most professional colleagues possible, individuals that deeply understand our core principals of honesty, trust, and reliability.
Principal Involvement Adding to the strength of our dedicated team, you can ensure Principal involvement in each property we undertake, and for each client we work alongside. Our whole team is involved in our daily operation so there are no communication mishaps. We keep our staff continuously in the know so each of us is perpetually informed of how to approach your specific project and property.
Tailored Solutions Backed By the Latest in Technology Through our focused operation we ensure the application of leading edge, best in class technology. What makes us stand out is our team focuses the attention and time to show you how to fully integrate tools and technology into your property. We offer full support to determine the best programming specific to your needs.
SEC TION
YOUR PROJECT Project Details Fees Staffing Plan
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YOUR PROJECT
P R O J E C T D E TA I L S SEDGWICK PROPERTIES IS EXPECTING TO DELIVER A FIRST-CLASS BOUTIQUE APARTMENT COMMUNITY IN THE BUCKTOWN NEIGHBORHOOD OF CHICAGO. THE MID-RISE PROPERTY IS EXPECTED TO BE FIVE STORIES WITH APARTMENT UNITS LOCATED ABOVE RETAIL AND PARKING.
The approximate unit breakdowns will be as follows:
Unit Type
Unit Size Range
Average Unit Size
Unit Mix
Units
Total Square Footage
1 Bedroom 1 Bathroom
675 -700 Sq. Ft.
688 Sq. Ft.
27%
8
5,500 Sq. Ft.
2 Bedrooms 2 Bathrooms
860 - 1200 Sq. Ft.
1030 Sq. Ft.
46%
14
14,420 Sq. Ft.
3 Bedrooms 2 Bathrooms
1150 - 1500 Sq. Ft.
1325 Sq. Ft.
27%
8
10,600 Sq. Ft.
30 Total Units
The property in Bucktown is expected to have private roof decks and will include Wi-Fi Internet access, on-site dry cleaning and package delivery lockers, bike storage, and secure resident/guest access control. Apartment interiors are anticipated to have designer kitchen cabinets, stainless steel appliances, plank flooring, solid surface countertops, in-unit washer/dryer, and designer plumbing and lighting fixtures. Some or all of the apartments will have private outdoor space, however this may change prior to final construction completion. The building is anticipated to be “pet friendly” and allow for dogs and cats in accordance with lease documents. Leases are anticipated to include a “RUBS” package that includes water, sewer, trash, and bulk cable for each apartment.
Tricap Residential Group | TricapRes.com
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YOUR PROJECT
FEES MANAGEMENT FEES SHOULD BE SIMPLE, TRANSPARENT, AND FAIR.
Our mantra is to draw a definitive line between property and corporate expenses, and not burden the property with an expense that are not a clearly defined direct benefit to the property. The proposed property management fee for this assignment is 2.5% of the gross monthly collections at the property with a monthly minimum of $1,500 during the lease up period. Leasing commissions will total 70% of the first month’s rent and 100% if the unit is co-brokered. The fee will be paid monthly in arrears and would commence upon the hiring of the Community Manager for the properties. A sample property management agreement has been provided in the supplemental information package.
Tricap Residential Group | TricapRes.com
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YOUR PROJECT
S TA F F I N G A SHARED STAFFING PLAN BY TRICAP WILL ALLOW FOR THE MOST EFFICIENT USE OF MANAGEMENT AND MAINTENANCE PERSONAL WHILE MAINTAINING A COST EFFECTIVE BUDGET FOR THE PROPERTY.
The proposed staffing and compensation plan for the developments are as follows:
Management Team Community Manager Salary: $2,000/month (part time) The Community Manager is responsible for all operations on site, including setting goals for the on-site team and enforcing top performance. This position will also maintain a positive rental program, qualifying prospective residents. The Community Manager will be hired 30-60 days prior to the delivery date of the development(s). The Community Manager is responsible for all operations of the facility including: • • • • •
Oversight of the leasing and maintenance activities Weekly reporting to ownership Rental collections and resident relations Vendor purchase orders and invoice approval Execution of the management plan as determined by client
Service Team Maintenance Technician Hourly: $45/hr (part time, approx. 20/week) The Maintenance Technicial will be responsible for all maintenance related activities at the properties including: • In-unit maintenance on non-warranty items • Resident customer service • Turnover needs of apartments when vacated (typically does not include painting) • Repairs and maintenance in all common areas of the property • Coordination of all regular and non-regular service vendors The position will be filled 30 days prior to first occupancy of the developments.
Tricap Residential Group | TricapRes.com
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YOUR PROJECT
M A R K E T S U R V E Y, M A R K E T I N G P L A N A N D B U D G E T A GOAL WITHOUT A PLAN IS JUST A WISH ( ANTOINE DE SAINT-EXUPÉRY ).
Leasing and marketing execution is critical to the execution of your business plan. Throughout the construction and development process, our senior team will work with you to develop and execute a plan that works for your goals and budget. In an effort to help identify and quantify the competition for your project, we have completed a market survey, the results of which are summarized below. A full survey can be found on the next page.
1 Bed / 1 Bath Property
Address
2 Bed / 2 Bath
3 Bed / 2 Bath
Market Rent
Per SF
Market Rent
Per SF
Market Rent
Per SF
1545 W. North Ave
1545 W. North Ave
$2,250
$3.27
$3,250
$3.15
$3,800
$2.88
1611 W. Division
1611 W. Division
$2,350
$4.43
$3,966
$3.46
--
--
Mondial River West
910 W. Huron St
$2,515
$3.36
$2,970
$2.94
$3,970
$2.43
Sono East
840 W. Blackhawk St
$2,239
$3.80
$3,591
$3.24
--
--
Xavier
625 W. Division
$2,375
$3.60
$3,425
$3.49
--
--
New City
1457 N. Halsted
$2,626
$3.28
$3,538
$2.75
--
--
$2,421
$3.69
$3,498
$3.18
$3,970
$2.43
Comparable Averages
Rent Comparable
Tricap Residential Group | TricapRes.com
Price Per SF
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YOUR PROJECT
R E N T C O M PA R A B L E S
A
C
B
1545 W. North Ave 1545 W. North Ave Chicago, IL
1611 W. Division 1611 W. Division St Chicago, IL
SoNo East 840 W. Blackhawk Chicago, IL
1545. W. North Ave
1611 W. Division
Mondial River West
SoNo East
Xavier
New City
Year Built
2016
2013
2009
2012
2015
2015
Number of Units
30
99
141
324
240
199
Property
E
D
Mondial River West 910 W. Huron St Chicago, IL
Xavier 625 W. Division St Chicago, IL
F
New City 1457 N. Halsted Chicago, IL
Community Details
Stainless Steel Appliances
Fitness Center Outdoor Pool Juice/Coffe e Bar Catering Kitchen Roof Terrace Grilling Area
Fire Pit Theater Clubroom Zip Car Skyline / Lake Views Business Center Guest Suites Door Person
Dog Run
Pet-Friendly
On-Site Retail Walk Score
D F
E
B
A
98
87
95
85
Tricap Residential Group | TricapRes.com
C
96
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YOUR PROJECT
PROJEC T TIMELINE THE TIMELINE BELOW HAS BEEN DEVELOPED TO ENSURE AN EFFICIENT AND TIMELY SUCCESS OF THIS PROJECT. 1 MONTH JAN
Brand Discovery Phase
3 MONTHS, FEB - MAY
Launch Phase
9 MONTHS, MAR - DEC
Leasing Phase
Month 0
3
6
9
12
Brand Discovery Phase
Launch Phase
Leasing Phase
»» Strategy kick off
»» Website (temporary static and full final)
»» Certificate of Occupancy - May 1st
»» Property Naming »» Property identitiy (color scheme)
»» Signage
»» Leasing (with concessions as needed)
»» Property Logo
»» Collateral
»» Prospect follow Up
»» OneSite integration
»» Prospect Eblast
»» Advertising
»» Stabilization
»» OneSite integration »» Pre Leasing with concessions »» Staged unit »» Property photos
Tricap Residential Group | TricapRes.com
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YOUR PROJECT
MARKETING BUDGET
Jan 16’
Feb 16’
Mar 16’
Apr 16’
May 16’
Jun 16’
July 16’
Aug 16’
Sep 16’
Oct 16’
Nov 16’
Dec 16’
Expense
Total
$106,675
Branding*
$23,400
Brand Identity
$19,400*
Website
$4,000*
Printing
$5,700
Coming Soon
$750
Retail Space
$1,500
Now Leasing
$700
Move in Today
$750
Retail Space Update
$1250
Banner Update
$750
Advertising
$400
Craigslist
$0
Domu.com
$400
Photography
$3,250
Photos
$750
Staging Unit
$2500
Admin
$200
Website Domain Hosting
$200
Leasing Commissions**
$73,725**
*Proposed pricing by UpShift Creative, full proposal attached in supplemental package **Leasing commissions equal to 75% of 1st months rent for all units.
Tricap Residential Group | TricapRes.com
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SEC TION
ABOUT US Services Leadership Our Team References
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ABOUT US
SERVICES TRICAP’S APPROACH TO YOUR REAL ESTATE NEEDS IS AS SIMPLE AS IT IS EFFECTIVE: WE MANAGE EACH PROJECT AS IF IT WERE OUR OWN.
Understanding Your Goals by Listening to Your Needs Tricap understands that each property, project, and owner is unique. We pride ourselves on taking the time to understand your property and investment goals at the onset of our relationship.
Executing a Plan That Exceeds Your Expectations Once we understand your goals, Tricap will form and execute a plan tailored to your needs. Our plans are full coverage, detailing unit pricing, property marketing and leasing, resident and reputation management, facilities maintenance, accounting, and reporting. On top of this personalized plan we create a best-inclass experience for our clients through sophisticated technology integration whenever possible. This step reduces overhead and allows each customer to gain a detailed understanding of their investment.
Experience and Direct Communication at Each Stage
Development
Value Add
Stabilization
»» Land Acquisition
»» Deal Sourcing and Underwriting
»» Efficient Property Management
»» Development Analysis and Underwriting
»» Program Development
»» Resident Retention
»» Construction Management
»» Reputation Management
»» Product Development and Program Management
»» Property Management
»» Revenue Management
»» Property Lease Up
»» Property Positioning
»» Design, Construction, and Disposition Management
Tricap Residential Group | TricapRes.com
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ABOUT US
LEADERSHIP OUR TALENTED TEAM OF REAL ESTATE PROFESSIONALS HAVE AN UNCANNY ABILITY TO ANTICIPATE AND IDENTIFY OPPORTUNITIES IN DIVERSE MARKETS. WE CREATE VALUE THROUGH STRONG MANAGEMENT AND PUT OUR EXPERIENCE TO WORK AT EACH STAGE.
Bryan Pritchard - President Listen to Bryan talk about real estate for five minutes, and one thing becomes abundantly clear: He loves what he does. In today’s tumultuous real estate marketplace, that enthusiasm is every bit as important as talent – which in Bryan’s case is considerable. In 2007, Bryan founded Tricap as a redeveloper of multi-family assets, and achieved quick success repositioning properties through a combination of renovation, enhanced property management, and lease-up. From there, he built the company into a multifaceted organization that develops, manages, and leases thousands of apartments throughout the Midwest, and has completed redevelopment projects ranging from neighborhood walk-ups to major high-rise renovations. Bryan holds a B.S. in Mechanical Engineering from the University of Michigan and is a Past President of the Lincoln Park Builders of Chicago. The net result of all his experience is the “owner’s perspective” that Bryan uses to personify the company’s approach to each aspect of the real estate business.
“The secret of success is to understand the point of view of others.” —Henry Ford
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ABOUT US
OUR TEAM INTEGRITY, TRUST, AND HARD WORK PUSH OUR DEDICATED TEAM AHEAD, OUR GOALS AND CLIENT COMMITMENT HOLD US TOGETHER.
Brian Arseneau - Controller Brian joined Tricap in 2014 and brings a level of experience that includes several tenures at private and institutionally funded real estate companies, including his position as the Controller at the Land Division for Kimball Hill Homes. Brian’s rolls include, but are not limited to, accounting, treasury management, forecasting, and compliance. In addition to being an accomplished real estate professional, Brian represented the United States in the 1988 Winter Olympics, and is a member of the National Speed Skating Hall of Fame. Brian is a graduate of Northern Michigan University as well as a CPA.
Brandi Tucker- Marketing Director Brandi joined Tricap in February 2015; she sets the strategy and oversees branding, marketing, public relations, and community affairs. With a diverse background, she brings a wealth of knowledge in community and promotional marketing. Possessing a strong passion for brand development and consumer behavior, she guides the company’s focus to be resident-driven. Prior to Tricap, Brandi was the V.P. of Marketing at Pangea Universal Holdings. Before Pangea, she was the Marketing Manager at Morningside Equities group where she oversaw all facets of marketing for a 60 million dollar project. Brandi graduated with a Bachelor’s in Marketing Communications and a concentration in Public Relations from Columbia College Chicago. She has been an active member of The Chicagoland Apartment Association for over four years and has sat on two committees.
Rachel Dunseth - Director of Property Management As Director of Property Management, Rachel directs all areas of property management. Rachel has 20+ years of property management experience in communities throughout the Midwest and prior to joining Tricap she was a regional property manager for Ardent Properties in Columbus, OH. Rachel’s work ethic and positive attitude are infectious. She not only serves as a manager at Tricap, but also a role model to everyone on her team. Tricap Residential Group | TricapRes.com
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ABOUT US
OUR TEAM (CONTINUED).
Nicole Carney - Propery Manager, Chicago Nicole joined the Tricap team in 2011. and oversees both multifamily and commercial property for Tricap. Nicole has over 10 years experience and has a strong track-record of building profitable relations with executive, clients and business partners. Continually, she demonstrates her ability to recognize potential problems, evaluate alternatives and implement positive solutions.
Chris Skoczen - Property Manager, Chicago Chris has been working with Tricap since 2013. He has a major in accounting and is very enthusiastic about working with people. He oversees rental properties at Ravenswood Gardens, 150 units, and 3524 N. Marshfield, 30 units. Chris has 7 years of experience with a strong record of building successful relationships with tenants and business partners. He demonstrates his ability to improve the quality of the properties he manages and has a positive impact on the Tricap portfolio.
Tricap Residential Group | TricapRes.com
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ABOUT US
REFERENCES OUR COMMUNITY IS NOTHING WITHOUT TRUST AND PARTNERSHIP. WE WORK CLOSELY WITH THE ORGANIZATIONS WE VALUE AND RESPECT SO WE ENSURE THAT WE ARE BEING HELD AT EQUALLY HIGH STANDARDS.
References Lee Kiser
Erik Stamell
Founder Kiser Group 1628 W. Montrose Chicago, IL 60613
Partner National Equity Corp. 6905 Telegraph Road, Suite 110 Bloomfield Hills, MI 48301
lkiser@kisergroup.com (773) 293-5000
erikstamell@yahoo.com (248) 227-7263
David Galowich
Stephen Cochran
President Madison Realty Group, Inc. 200 W. Madison Street, Suite 2601 Chicago, IL 60606
CEO WOW! Internet, Cable & Phone 7887 E. Belleview, Suite 1000 Englewood, CO 80111
dgalowich@madisonchicago.com (312) 759-5020
scochran@wideopenwest.com (303) 641-3931
Robert Kaplan
Michael Chioros
Partner Ansonia Properties 815 W. Van Buren, Suite 301 Chicago, IL 60607
President Chioros Properties 53 W. Jackson, Suite 1757 Chicago, IL 60604
rkaplan@ansoniaproperties.com (312) 492-8866
mike@chioros.com (312) 613-3931
Nicholas Coburn
James Peterson
Founder & Partner Bloomfield Capital 280 North Old Woodward Avenue Birmingham, MI 48009
Partner Pioneer Acquisitions, LLC 180 East Post Road White Plains, NY 10601
ncoburn@bloomfieldcapital.com (248) 220-1956
james@pioneeracq.com (212) 588-8821
Tricap Residential Group | TricapRes.com
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SEC TION
PROPERT Y MANAGEMENT Overview Marketing Leasing Operations Retention
3
3
PROPERT Y MANAGEMENT
PROPER T Y MANAGEMEN T OV ERV IE W WE DEDICATE OURSELVES TO YOUR RESIDENTS AND COMMUNITY BY CONSISTENTLY PROVIDING INCREDIBLE CUSTOMER SERVICE, TREMENDOUS VALUE, AND A COMFORTABLE LIVING ENVIRONMENT.
Experience and Professionalism Matters The residential apartment market is ever changing, and maximizing NOI is critical to the financial success of your investment. Our management teams have a thorough knowledge of your community, and thus a deep perspective of the variety of renters in the market.
Marketing Pinpointing the competition and measuring the ROI of your marketing budget is critical to your property’s success.
Leasing Utilizing personalized and up-to-date marketing and advertising strategies, we track your marketing dollars to the place that it matter most: lease signings.
»» Competitive Market Analysis (CMA) »» Customized Marketing Plan »» Tracking Your Budget »» Reporting and Analyzing Your Results
»» Price Syndication »» Revenue Management »» Lead Tracking Systems »» Resident Screening
MA X
NOI
Retention The most important prospect is a renter who already resides in your community.
»» Resident Events »» Social Media Interaction »» Reputation Management »» Real-Time Resident Feedback »» Proactive and Friendly Staff
Operations Our management teams are experienced multifamily professionals and problem solvers by nature.
»» 24 Hour Maintenance »» Resident Portals »» Online Payments »» HR, Training and Benefits »» Professional Education »» Accounting and Reporting »» Vendor Compliance
Tricap Residential Group | TricapRes.com
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PROPERT Y MANAGEMENT
MARKETING WE POSITION AND BRAND OUR COMMUNITIES WITH AN IDENTITY THAT IS RECOGNIZABLE, MEMORABLE, AND RESONATES WITH YOUR TARGET DEMOGRAPHIC. Custom Marketing Campaigns That Leverage Technology to Maximize Results Tricap understands the importance of returning the most from each marketing budget that we implement. To ensure our marketing strategies are performing at their peak, we utilize a sophisticated lead tracking system that monitors both the quantity and quality of each lead.
Competitive Market Analysis (CMA) Tricap prepares a Competitive Market Analysis (CMA) of any neighborhood we go into to determine market pricing for that community. Upon completion of this CMA we prepare and execute a comprehensive marketing plan and budget for owner review and approval.
Custom Marketing Plan Developing and communicating a clear and consistent message is paramount to effectively marketing your property. We understand the importance of professional marketing, and we have the experience to develop and broadcast the message that best fits your image. Our integrated system includes an imbedded call-tracking technology to determine each call’s origins, and targets which calls are main leads. This technology also interprets which team members answer each lead, how long each call lasts, and what days and times are peak for leasing calls. Tricap automatically captures guest card information and lead source data to seamlessly transfers it to your property management system.
WE BELIEVE IN ONE PRINCIPLE ABOVE ALL OTHERS: GREAT PEOPLE CREATE GREAT EXPERIENCE . IT’S THE DIFFERENCE THAT OUR RESIDENTS ARE PROUD TO EXPERIENCE EVERY DAY.
WE BELIEVE IN ONE PRINCIPLE ABOVE ALL OTHERS: GREAT PEOPLE CREATE GREAT EXPERIENCE. IT’S THE DIFFERENCE THAT OUR RESIDENTS ARE PROUD TO EXPERIENCE EVERY DAY.
DR AW ING DRAWING UPON PROUR UP IN OPE ROOTS O IMPR RT Y AND N OUR PROPERTY ACQUISITION AC OV RO QUI EM PERSWE UTILIZE OT IMPROVEMENT, AN OWNER’S SIT S IN ION PECT ENT, WE SO TO CREATE IVE A TAILORED PERSPECTIVE LUTI UTILI AND TO ON ZE CR SOLUTION FOR YOUR PROPERTY. FO AN R YO EATE OW A NE UR WH AT R’ S PRO TAILO SET S TRIC RED PERT Own AP Root er’s Pers APA Y. ed WHAT SETS TRICAP FUELS YOUR PROJECT SUCCESS: impr pect IS WHAT RT in APART ovem prop
Custom Websites We provide professionally designed websites that are easy for you and your prospective residents to use.
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Property Management Acquisition & Development Real Estate Advisory tricapres.com
BRYAN PRITCHARD President
tricapres.com
Advertising We highlight and cater messaging directly to your target audience.
747 N. LaSalle, Suite 210 Chicago, IL 60654 T 312 725 9440 F 312 725 9440 bpritchard@tricapres.com
Group 210
Residential Suite Tricap LaSalle, 747 N. IL 60654 Chicago, 9440 312 725
Management Property & Development Acquisition Advisory Real Estate tricapres.com
info@tricapres.com
Internet Listing Service Pricing integration delivered in realtime for all of your internet marketing sources.
Professional Leasing Staff An organized and dedicated team that supports your tenants both future and present.
Tricap Residential Group | TricapRes.com
BRYAN PRITCHARD President
747 N. LaSalle, Suite 210 Chicago, IL 60654 T 312 725 9440 F 312 725 9440 bpritchard@tricapres.com
Property Management Acquisition & Development Real Estate Advisory
Customized Collateral A tailored solution to display the benefits of your property and community.
Property Signage Clean and effective signage customized to your property’s key attributes.
Tracking Your Dollars and Reporting the Results Detailed management reports help us to maximize our advertising budget while gaining visibility into site performance and pinpointing successful methods to increase productivity.
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PROPERT Y MANAGEMENT
LEASING APARTMENT COMPLEXES ARE ABOUT BUILDINGS. OUR APARTMENT COMMUNITIES ARE ABOUT PEOPLE.
Dedicated Leasing Agents Utilizing the most up-to-date marketing and advertising strategies, our experienced teams are compensated primarily on a simple metric— lease signings. Our reward-based compensation structure, balanced by your pre-determined applicant screening criteria, ensures filling your vacancies with qualified, long-term tenants.
Price Syndication & Revenue Management The complexities of the multi-family market make it difficult to accurately determine all the variables necessary to calculate a price that balances rental rates with occupancy for a forecasted maximum profit. Tricap navigates these intricacies by utilizing the industry leading revenue management software from YieldStar. YieldStar leverages a growing database of multifamily lease transaction data for millions of apartment units. This massive data store allows us to provide our clients with an exceptional visibility into past and current performance trends for thousands of properties and submarkets nationwide.
Lead Tracking Systems We utilize a sophisticated lead tracking system to monitor and track both the quantity and quality of each of our leads. Our system includes an imbedded call-tracking technology to determine the prospects coming from each lead source, and which team member is responding to the inquiry.
Resident Screening Tricap adheres to an advanced screening technology that gives an extensive look into each potential resident through in-depth criminal background and credit checks. Our screening ensures a property’s improved profitability through ledger-level integration and the industry’s largest rental payment history database. »» Impartial Scoring Model »» Credit & Criminal Background Checks »» Instantaneous Decision Making »» Reduced Rental Losses Via Up-Front Due Diligence
Tricap Residential Group | TricapRes.com
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PROPERT Y MANAGEMENT
O P E R AT I O N S WE TREAT EACH PROPERTY AS IF IT WERE OUR OWN, COMBINING ONLINE AND ON THE GROUND PERSPECTIVES TO MANAGE THE DAY-TO-DAY OPERATIONS OF YOUR PROPERTY.
Experienced Property Managers Connected With a Professional Maintenance Staff By streamlining each property’s staff we make sure that each detail of the property is taken care of, from curb appeal to fixing a leaky faucet. We adhere to a level of attention that ensures even the smallest details are an important part of our equation—one of the many ways that helps to set us apart in the field.
Staffing We take our investment in human capital very seriously. Each member of our team is a highly trained real estate professional, from property managers to our on the ground maintenance team.
24 Hour Maintenance Service requests from our residents happen 24/7/365. By being available when our residents need us, we make sure our residents are satisfied with their home and the team behind it.
Resident Portals Tricap provides a Resident Portal system with an easy-to-navigate online gateway that complements our residents’ lifestyles while also enhancing their community experience. Optimized for mobile devices, residents can quickly access this portal from their smartphone, tablet, or computer. Resident portal services include securely paying rent, submitting service requests 24/7, and reserving property amenities at the resident’s convenience.
Online Payments By providing our residents the ability to make electronic payments, we are able to accept multiple payment options. Placing this service online also ensures security and 24-hour access. Through our online payment system our residents can check balances, set up one-time or reoccurring payments, and pay whenever and wherever they want.
HR Training and Benefits By partnering with several best-inclass training and human resource management partners, Tricap maintains a work environment that is challenging, vibrant, and rewarding for our employees.
Tricap Residential Group | TricapRes.com
Accounting and Reporting Our in-house team utilizes sophisticated accounting software to provide a reporting package specific to each of our client’s needs. Timely and accurate reporting is essential to measure a property’s performance, and we maintain the necessary checks and balances to ensure fiduciary responsibilities to each client are maintained.
24 HOUR
Vendor Compliance Our clients sleep soundly knowing their assets are properly insured. By partnering with Compliance Depot we establish that all of our vendors have executed general services agreements that comply with the insurance requirements outlined in our property management agreement.
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PROPERT Y MANAGEMENT
RETENTION YOUR MOST VALUABLE RESIDENTS ARE THE ONES THAT ALREADY LIVE AT YOUR PROPERTY. WE CREATE COMMUNITIES THAT RESIDENTS WANT TO STAY AND THRIVE WITHIN.
Providing the Services That Earn Your Property Positive Feedback Through instituted programs we ensure that your residents are not only satisfied, but happy members of your property’s community. We promote activities that bring your residents together both on and offline, while tracking any feedback that might come your way through several online platforms.
Resident Events Promoting a sense of community and collaboration for your residents can be the difference between a long-term resident or a short-term lease.
Social Media Interaction For tech-savvy target demographics, Tricap customizes a marketing plan that places a strong emphasis on social media networking. This provides another location in which your residents can interact both with you and each other.
Real-Time Resident Feedback Knowing how your residents feel about your property is crucial to improving your resident satisfaction, and thus helping you increase renewals and grow your NOI. Tricap utilizes the trusted SatisFacts survey tool to provide direct and real-time feedback from your residents. »» Real-Time Customer Surveys »» Immediate Follow-Up From Property Staff »» Multiple Touch Points Throughout Lease Cycle »» Executive Team Copied on All Surveys
Tricap Residential Group | TricapRes.com
Proactive and Friendly Staff Both in-house and property management staff at Tricap understand the importance of treating our residents with the highest level of courteousness and professionalism—whether they rented with us in the past, present, or future. Not only do our services promote your reputation, but our staff’s personality and actions do as well.
Reputation Management Listings that are potentially damaging to your online reputation can hurt your credibility. On top of customized community engagement for your residents, we also monitor your online reputation at the corporate level. This ensures that all questions from prospective residents are answered quickly, and any negative feedback has a timely and appropriate response.
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SEC TION
RELEVANT EXPERIENCE Schedule of Managed Properties Case studies
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RELEVANT EXPERIENCE
SCHEDULE OF MANAGED PROPER T IES Property Name
Location
No. of Units
Pioneer Portfolio
Chicago, IL
464
Bryant Mercer Collection
Columbus, OH
354
Hampshire Park
Hobart, IN
186
Ravenswood Gardens
Chicago, IL
151
Residences of Sawmill Park
Columbus, OH
120
Everett Hyde Park
Chicago, IL
98
Worthington Woods
Columbus, OH
96
6720 S. Jeffery
Chicago, IL
81
Portage Park
Portage, IN
44
Southside Flats
Chattanooga, TN
40
Total Units Under Management
Tricap Residential Group | TricapRes.com
1,633
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RELEVANT EXPERIENCE
R AV E N S W O O D G A R D E N S CHICAGO, IL RavenswoodGardensApartments.com
About the Property Found within Sheridan Park, Ravenswood Gardens exists in the neighborhood’s historic district amongst beautiful single-family residences from the early 1900’s. Glass block and lush greenery make our building an oasis in the city, an apartment complex filled with studio and one-bedroom apartments for the active couple or single urbanite.
At a Glance
151 Units
2014 Acquired/ Managed Since
Tricap’s Role Tricap purchased Ravenswood Gardens in 2014 with the business plan of adding value to the asset through a combination of interior unit renovation, expense management, and rent increment. Furthermore, Tricap stabilized the core physical characteristics of the property by replacing all of the roofs and exterior steel entry staircases. The property was originally constructed in the early 1970’s and serves the entry-level renter community in one of Chicago’s up-and-coming neighborhoods, Uptown. Because of the high density of units in near proximity to each other, Tricap is able to manage this scattered site portfolio from a single management office, increasing the level of customer service to the residents and maximizing revenue from resident retention.
Key Metrics »» 10%+ NOI growth in the first year of ownership »» Substantial rent growth realized from cosmetic and exterior renovation program
Tricap’s Role
»» Value Add »» Stabilization
Tricap Residential Group | TricapRes.com
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B R YA N T M E R C E R C O L L E C T I O N COLUMBUS, OH BryantMercerCollection.com
At a Glance
About the Property It’s atmosphere. It’s convenience. It’s the embodiment of Dublin apartment living with the highest standards of comfort. It’s all yours at The Bryant Mercer Collection. A boutique apartment community, The Bryant Mercer Collection has all of the luxury amenities and designer suite features you deserve and would find in a high-end condo.
354 Units
2013 Acquired/ Managed Since
Amenities
Tricap’s Role Tricap, on behalf of a private investment group, was retained as acquisition advisor during the purchase of these properties in September of 2013. The acquisition exemplified Tricap’s ability to execute complicated transactions as it included a Freddie Mac loan assumption and a Freddie Mac loan origination occurring simultaneously in conjunction with a preferred equity investor and general partner syndication. Tricap also acts as property manager and asset manager, handling all facets of daily property activity and periodic investor reporting and management.
Key Metrics »» Complex transaction involving multiple layers of debt and equity financing »» Successful Yieldstar implementation has allowed for high occupancy and rent maximization
Tricap’s Role
»» Value Add »» Stabilization
Tricap Residential Group | TricapRes.com
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PIONEER CHIC AGO CHICAGO, IL At a Glance
About the Property Neighborhood Chicago apartments have never looked so good. It’s the intersection of vintage and sophistication where you will find hardwood floors, custom cabinetry, granite counters, stained wood trim, and stainless steel appliances. In-unit laundry is standard making this charming gem practical and modern.
383 Units
2012 Acquired/ Managed Since
Our convenient, pedestrian and bicycle-friendly locations are near local restaurants, pubs, and public transportation. It makes getting around a breeze, whether hopping on the train to work or stopping to meet friends and neighbors on the way home. After hours, enjoy a bevy of bars and restaurants right outside your doorstep.
Tricap’s Role Tricap is retained as property manager and construction manager on behalf of an out-of-state investment group. Tricap is responsible for the management and execution of a complex renovation program across 10+ buildings in various neighborhoods. The assignment highlights Tricap’s ability to manage complex renovation programs while maintaining high levels of occupancy and resident satisfaction.
Key Metrics »» Execution of complex renovation program while maintaining high levels of property occupancy »» 200+ units renovated and re-leased in the initial 6 month project period
Tricap’s Role
»» Value Add »» Stabilization
Tricap Residential Group | TricapRes.com
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RELEVANT EXPERIENCE
474 0 G R E E N W O O D CHICAGO, IL At a Glance
About the Property Nestled amongst the mansions and architectural treasures of the Kenwood Historic District, 4740 S. Greenwood is Hyde Park’s newest neighborhood apartment development. The building is the perfect balance of modern amenities, sophisticated style, and the historic charm embodied by the tree-lined streets of one of Chicago’s most prominent and exclusive neighborhoods. Enjoy the 53rd Street entertainment district with retail options including Akira, Kilwin’s, CorePower Yoga, ULTA Beauty, and the Harper Court Movie Theatre. After an afternoon of shopping, refuel with dinner and drinks at Starbucks, Pork Chop, Giordano’s, Five Guys Burgers and Fries, Clark’s Diner, or Leona’s. Other cultural options include the DuSable Museum and the Museum of Science and Industry. Need some exercise? Check out LA Fitness, or hit the beautiful shores of Lake Michigan for a relaxing jog or bike ride.
Tricap’s Role Tricap purchased and renovated this property over an 18-month span beginning in 2012. The renovation included historic window replacement and a complete gut rehab of the unit interiors. The property was aggressively leased and stabilized over a 3-month period following the renovation. A subsequent sale resulted in a 50%+ IRR for the investment.
31 Units
2012 Acquired/ Managed Since
Key Metrics »» Gut renovation of the property including historic window replacement »» Fully stabilized in only 3 months after completion of the renovation »» 50% IRR to our investors in under 24 months
Tricap’s Role
»» Value Add »» Stabilization
Tricap Residential Group | TricapRes.com
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Tricap Residential Group 954 W. Washington, Suite 700 Chicago, IL 60607 312 725 9440 Info@TricapRes.com
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