Case Studies

Rockledge at Bear Valley Property Summary

  • Lakewood, Colorado
  • Built in 1977
  • 230 units
  • Acquired in Q1 2012
  • Completely Rebranded as Rockledge at Bear Valley in 2013

Transaction Overview

  • Total renovation budget of $3.4 million
  • Renovation bump of $123 per month equates to a return on cost of approximately 20%
  • Trailing 12 month occupancy has averaged 95% with an increase in base scheduled rent of 7%

Project Renovations

  • Common Areas – Upgraded the leasing office, expanded the clubhouse, relocated and enhanced the fitness center with state-of-the-art equipment, added new pool furniture, a BBQ pavilion and fireplace with outdoor furniture.
  • Unit Renovations – New appliances, counter tops, cabinets, light fixtures, plumbing fixtures, hardware, and the addition of wood vinyl flooring.
Before and After Photos Click here to view slideshow