In September, we had four different properties across four different markets positioned to complete a supplemental loan. And in each case, it was an incredible team effort.
Over the last 30 days, we’ve rewarded and recognized these teams for achieving revenue targets, closing capital events, and helping drive our 2022 transactional volume. Here’s a recap of our relentless pursuits of excellence in Charlotte, Nashville, Raleigh-Durham and Columbus…
Greenway at Mallard Creek
Greenway at Mallard Creek in Charlotte closed a $7 million supplemental loan. This was the team’s second capital event in nine months, following the $50.5 million refinance in December. Our associates exceeded their revenue target of $460,000 in August by $20,000 one month ahead of schedule.
“To be honest, it was exciting to be part of it,” sales associate Latoya Bell said. “I’ve been with the company for a year, so it was exciting to see it all come to fruition.
“General manager Lindsey Knopf, operations manager Diana Canty, and sales manager Ashley Debnam are always hands-on and lead from the front. We have a great team culture and it absolutely paid off.”
Cross Creek at Murfreesboro
After having an original revenue target of $410,000 in September, the Cross Creek team exceeded their goal two months early, hitting $414,000 in July and then $428,000 in August. That hard work positioned the Nashville property for a $4 million supplemental.
“For me, it was great to be able to see the impact we were able to make,” general manager Valerie Ellis said. “In January, I tested out and had the mindset of done, next. I sat with Kristen and talked about upgrades and re-rents so we could position ourselves to hit our goals and hit another capital event.
“It showed me that if you stick to the systems, you can make goals happen.”
Reserve at Cary Park
Raleigh’s Reserve at Cary Park team positioned the property for a $5 million supplemental. This comes on the heels of a $53.2 million refinance in February. Our associates delivered on their $421,000 revenue target two months early in July.
In less than two years, the team improved net operating income by 91 percent.
“It’s amazing getting to work with a team that comes in and proves ourselves over and over again,” lead sales Nick Friedrichs said. “We are the elite of the elite. For us, the sky is the limit, and we got to show that to four new associates what we work so hard for.”
District at Linworth
Last but not least, our District at Linworth team celebrated their first capital event since purchasing the property in July 2021. The Columbus team originally aimed for a $560,000 revenue target in August to close a $5.3 million supplemental. Instead, they exceeded their goal, delivering $604,000 in revenue in August, increasing proceeds to $9.5 million.
“We measured success daily,” general manager Joe Stephens said. “We knew the goals and objectives and worked one by one. We had the energy and excitement and kept those feelings and emotions, and it was great.
“Using the systems and measuring success, we made sure to stay on track. We all had different jobs and made it happen.”
