Wayne Courreges IIIManaging Principal, CREI Partners, CREI Partners, CREI Partners, LLC · Disciplined Passive Real Estate. Transparent Leadership.

Repositioning Multifamily Assets Takes Time but Yields Dividends

Name: Repositioning Multifamily Assets Takes Time but Yields Dividends
Uploaded: 2023-09-02T00:01:31+00:00
Duration: 44 s
Channel: Wayne Courreges III
Description: This content was created by Wayne Courreges III, CPM®. This content was uploaded by Wayne Courreges III, CPM®. This is a YouTube video titled…

2 Sept 2023 · 1 min

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This content was created by Wayne Courreges III, CPM®. This content was uploaded by Wayne Courreges III, CPM®. This is a YouTube video titled "Repositioning Multifamily Assets Takes Time but Yields Dividends" (created 2023-09-02). It features a single on-site speaker giving an update about multifamily asset management and property repositioning — referencing recent visits to the Majestic Apartments and the Ivy at the Galleria (purchased about a year earlier). The speaker describes renovations, a temporary occupancy decline to 71% after removing problematic tenants, and a recovery to 92% through hands-on day-to-day operations, emphasizing benefits for investors and residents. The excerpt is in English and reads as a monologue/presentation-style update rather than a multi‑person conversation.

Questions this video answers

71%.

92%.

About a year ago (speaker: 'We bought this about a year ago today.').

Chapters

Hey, everybody. Just got done with the Majestic Apartments, looking at a future acquisition. And I'm here about a mile away at the Ivy, at the Galleria. We bought this about a year ago today. If you follow me on Facebook, you know that we've done a lot of renovations here. But you may not know we went down to 71% occupancy just a few months ago. Part of that was cleaning up second, third, fourth chance type renters that just were causing a lot of struggles for us. So we went through that rough patch. But we're at 92% occupancy now. And it just shows you, with asset management and hands on day to day operations and taking care of our residents, renovating, doing the right thing, we can turn properties around. So it's a great thing for our investors and great thing for the residents here at the Ivy, at the Galleria.