Purple Arrow targets apartment communities with under-market rents and repositions them into competitive Class B+ buildings with focused management.
Purple Arrow creates value by turning neglected properties into desirable buildings with quality finishes while keeping rents at a sizable discount to Class A properties.
Our business plan includes the following elements:
Renovate apartments to create modern interiors that appeal to renters
Update common areas, rebrand properties, create amenities and improve curb appeal
Streamline ease-of leasing through an onsite manager, descriptive floorplans, staged marketing photos and a have strong web presence
Enhance revenues by bringing rents to market, accurate utility bill-backs and instituting market fees for ancillary services
Additionally, we create economies-of-scale by owning multiple properties in one market to develop a strong team of property managers, construction crews, and maintenance staff.