WORKFORCE APARTMENTS & SENIOR COMMUNITIES

Our investments are an entrée for both newer investors and our current club members who recognize the opportunity created by the critically shrinking supply of workforce housing.

While redeveloping challenged multifamily properties or building seniors housing communities may not seem as glamorous as constructing new class-A housing, we know from over 40 years of experience that redevelopment can be more rewarding.

TRIPLE-BOTTOM-LINE RETURNS

Today, the Drevers and their legacy family investors, along with institutional investors, continue to adhere to the investment philosophy of “Doing Well by Doing Good.”

“Doing Well by Doing Good” is Drever Capital Management’s approach to exponentially leveraging the positive impact of relatively small investments to produce triple-bottom-line (TBL) returns:

First Bottom Line: Generating solid returns including substantial cash-flow distributions.

Second Bottom Line: Supplying apartments for value-conscious workforce families and retirees along with supportive services and educational programs for residents and their surrounding communities.

Third Bottom LineCost effectively providing environmental sustainability with improvements that use eco-friendly materials and reduce consumption of power and water.

Impact Investing

INDUSTRY LEADERS

Drever Capital Management is recognized across the industry as best-in-class redevelopment specialists with a four-plus-decade legacy of transforming challenged workforce apartments into desirable and profitable communities.

SIGNATURE COST-EFFECTIVE ENHANCEMENTS

Drever Capital Management’s signature enhancements create value by cost effectively raising older or newer multifamily apartments and senior housing communities at least one class in appearance. This has resulted in an appreciable increase in rent and rental collections and a decrease in costly resident turnovers.

Our signature cost-effective enhancements:

  • lend our apartment communities a timeless, upscale residential appearance that distinguishes them from their aging contemporaries
  • elevate each property’s curb appeal and first impression with customized upgrades of the clubhouse, leasing office, buildings, community amenities and individual apartments
  • include installation of “green profit builders,” such as:
    • Energy Star programs
    • simulated plank flooring, instead of ‘toxic’ carpeting
    • drought-tolerant native plantings.

SUPERIOR PROPERTY MANAGEMENT

In addition to cost-effective enhancements, our ownership-property management team has a proven track record of:

  • bringing rental collections ahead of market and reducing costly apartment turnovers to below market
  • implementing proactive services that build community and retain residents, such as:
    • after-school programs and nonprofit services
    • tutoring for school-age children
    • on-site financial planning
    • complimentary health-care screening.

MAXIMIZING RENTAL COLLECTIONS & REDUCING TURNOVER

For example, during the Resolution Trust Company cycle, Concierge acquired 79 once-challenged apartment communities (18,000 units) that often had occupancies of 80 percent or less. By the time Concierge merged these properties into a public REIT:

  • physical occupancies averaged 97%
  • turnover averaged 17 points less than the competition
  • rents were at the top of their submarkets
  • rent collections had increased by an average of 13% per annum.

For a great read on the Upside of Value-Add, see here:

Upside-of-Value-Add

For additional reading, see our Media/In the News page.

THE INVITATION TO SUCCESS

We invite qualified investors to ask questions and to inquire about our targeted acquisitions strategy.