Transcript Slide 1
Greystar Real Estate Partners Bay Area Management, Investment, & Development Overview 16th Annual Developers Forum Bay Area Apartment Association greystar.com Overview Based in Charleston, South Carolina, Greystar has a presence in over 88 markets nationwide supported by 16 city offices. With multiple lines of business and over 170,000 units managed across the United States, Greystar’s vertically integrated business model leverages expertise across multiple disciplines to provide turnkey solutions and seamless execution. Since inception in 1993, Greystar’s focus has been solely on multifamily real estate – a focus that is maintained today. Executive Leadership Bob Faith Bill Maddux Derek Ramsey Stacy Hunt Chairman & Chief Executive Officer Chief Operating Officer Chief Financial Officer Executive Director – Client Services Andrew Livingstone Executive Director – Real Estate Services Wes Fuller Executive Director – Investment Services Scott Wise Executive Director – Development & Construction 2 greystar.com Structure “We know the real estate business is cyclical, but our balanced focus on both the service side of the business and the principal side gives us opportunities to grow wherever we are in the cycle.” GREYSTAR REAL ESTATE PARTNERS Client Services Property Management 4 Regional offices 16 City offices 70+ Markets 140,000+ Units Managed 4,000 Employees Asset Management National Coverage 15,500 Units $1.5B Managed 25 Employees Expertise across multiple product classes and investment strategies Transaction Management National Coverage 20 Employees 81 Acquisitions 52 Dispositions Numerous debt and equity relationships Principal Activities Development Investment National Coverage 11,500 Units 20 Employees $2.75B Invested since inception 4,000 Units $350M Development pipeline 15 Employees In-house construction Capital Projects 7 Regional offices $250M – renovation volume in last 3 yrs Asset preservation best practices 20 Employees Residential Types Market Rate Housing Student Housing Senior Housing Affordable Housing 3 greystar.com Clients Greystar has proven its ability to protect and enhance value for many of the largest institutional owners in the country. Organic growth through repeat business, customer referrals, and a reputation as a blue chip organization. 6 greystar.com Bay Area Management Presence Strong Local Presence Seneca Tampa Management 24 Properties, 7708 units Lease-ups Renovations Stabilized Properties Leadership Team National Division Office Andrew Livingstone SE Regional Office Gary Crane Jim Fawcett-Florida City Office Lori Krull 4 Regional Managers greystar.com Bay Area Development Presence Seneca at Cypress Creek – Opened in June 2009 Seneca at Cypress Creek Cypress Creek, Pasco Co., FL 451 units, 2009, Class A greystar.com Seneca at Cypress Creek Site Aerial Hwy 54 greystar.com Seneca at Cypress Creek Sustainable Land Plan •28 Acre wooded site – 46% tree save including specimen trees and unique clusters • Surface water – Conservation easements for Cypress Creek and critical linkage • Protected species – 14 gopher tortoise contained and relocated offsite Property Description •28 Apartment Buildings • 3-story garden and townhouse • Stucco / Hardi exteriors • Direct access garages • Screened Lanais •Controlled Access greystar.com Seneca at Cypress Creek Amenity Package •Controlled Access Gates •Business Center & Cyber Cafe •Game Room with Billiards •Resort style pools •Outdoor Fire Pit •Cabana and grill poolside •24/7 Cardio/Fitness Center w/ Spinning Room •Bark Park •Plenty of open air space/courtyards Services Included •Spot on Maintenance Team •Door to Door Valet Trash & Recycling •Package Receiving •Planned Social Events •Pest Control greystar.com Seneca at Cypress Creek Clubhouse features • Leasing Center • Business Center • Cyber Cafe • WiFi club room • Home theater • Game Room w/ Billiards greystar.com Resident Business Center greystar.com Game and Media Room greystar.com Clubhouse and pool area greystar.com Seneca at Cypress Creek Fitness Center • 2,000 SF gym •Free Weights, Cardio, Universal • Kid’s playroom • Wii Fit gaming gear • Spinning/group room greystar.com Natural Area with picnic/grill areas greystar.com Seneca at Cypress Creek Resort-style pool • Three deck/water elevations • California kitchen, fire pit • WiFi and surround sound • Screened porch seating area greystar.com Seneca at Cypress Creek Diverse Unit Mix • One (645 – 981 SF) - 40% • Two (947 – 1340 SF) - 46% • Three (1321 – 1379 SF) - 4% • 2 BR TH (1507 SF) - 6% • 3 BR TH (1611 SF) - 5% Modern Features • 9’ ceilings • Open floor plans •Screened in Lanias/Bonus rooms* • 42” maple cabinets •Kitchen Island/Bar* •Wood Plank Floors • Black on Black/Silver Metallic* GE Appliances w/Microwave • Washer / Dryer provided greystar.com Home of the Kitchen! greystar.com Marketing Plan • • Property Website Marketing collateral – – – – • • Guide Books News Releases Internet sites – – – – Apartments.com internet sites affiliated with print advertisers Craigslist.com Social Media campaign – Facebook/Twitter Drive-by appeal – – – – – Brochures Business Cards Direct Mailers Business Marketing Pieces Print Advertisements – – • • Signage (front entrance) Banners on County Line Road Billboard on 54 Landscaping Human Directionals Social Events – – – – Resident Activities Grand Opening in May 2010 Annual Haunted House Pool Parties greystar.com Traffic, Leases and Closing Ratio by Source greystar.com 46 50 31 Average Traffic per month: 2009 105 2010 112 Average # of NET leases per month: 24 32 Net Closing Ratios 23% 28% greystar.com Demographics greystar.com Seneca at Cypress Creek YE 2009 90% Occupancy greystar.com greystar.com quotes to live by: MMFI - make me feel important!! Prospect -------------------------------------------------------------------------Customers are the center of the universe. Help them and in turn you’ll be awash with opportunity Sean Storms, TBJ ------------------------------------------------------------------What TEAM SENECA lives by: Price is what you pay, Value is what you GET! Warren Buffett Build it they will come, manage it and they will stay! Developer! greystar.com A Fully Integrated Multifamily Service Provider Greystar Real Estate Partners 18 Broad Street, Third Floor Charleston, SC 29401 Greystar Real Estate Partners 4030 Boy Scout Blvd Tampa, FL 33407 Phone: 843-579-9400 Website: www.greystar.com Phone: 813/882-8700 Website: www.greystar.com greystar.com