Success Story: Shady Valley Square Apartments
Property Size: 114 units, 1971, Arlington, TX
Shady Valley Square was purchased by the current owners in August of 2007. The community had some deferred maintenance issues, but was plagued primarily by poor property management. As of October of 2007, Wehner Multifamily took over management and has taken great pride in its performance on the turnaround of this property. Although the owner took an active approach on the renovation of the property, our company was responsible for the turnaround of the property’s operations. As a result of the renovations of the owner, and the management of our company, Shady Valley Square enjoys a stable 90% occupancy, and has had a significant increase in revenues. This was accomplished through better tenant retention, significantly lower bad debt expense, and a slight increase in occupancy.