February 2019
- Our occupancy rate has increased to 94.2% (up from 93.2% last month) and preleased occupancy is 95.6%
- Since acquiring The Residence at Midtown, we have renovated a total of 225 of 296 units (3 new units in February)
- We nearly achieved an all-time high in collections in February, ~$260k, which is just a few hundred dollars lower than the previous record
- We were able to achieve an average renewal premium of ~$30 per unit in February
You should have already received your 2018 Schedule K-1 (Form 1065) in the mail and via email. If you have not, please let us know by emailing info@ashcroftcapital.com
January 2019
- Current occupancy is 93.2% and preleased occupancy is 96.3%
- We have renovated a total of 222 of 296 units since acquiring The Residence at Midtown (2 new units in January)
- We achieved another all-time high renewal rate – 71% in January (previous all-time high was 63%)
Brookings recently released migration data from the US census to identify major metros that attracted Millennials (ages 25 to 35) and Dallas-Fort Worth was ranked number 3 in the country with an average net migration of 12,665 per year between 2012 and 2017. This data reinforces our thoughts on the continued strength and demand in the DFW market. Click here to read more.
December 2018
- Current occupancy is 93.9% and preleased occupancy is 95.9%
- Since acquiring Residence at Midtown, we have renovated a total of 220 of 296 units
- The revenue collected in December was an all-time high
- The renewal rate for December was ~63%, which was also an all-time high (up from ~60% in November, which was the previous all-time high)
- We were also able to achieve $0 in delinquencies in December
A record number of companies left California for states with a better business climate, and a new report shows that Texas remains the number one destination. According to the study, 1,800 companies left California in 2016 (the most recent year data is available for), which is a 9-year high, and 299 of those companies moved to Texas. Click here to read more.
November 2018
- Current occupancy is 93.5% and preleased occupancy is 96.6%
- We have renovated a total of 220 of 296 units since acquiring The Residence at Midtown (3 new units in November)
- The revenue collected in November was the second highest all-time
- Our renewals increased to 60% (up from 56% in October), which is the new record high for the previous 7 months
- 53% of December expiring leases have already been renewed or transferred
October 2018
- Occupancy has increased for the second straight month to 93.9% (up from 92.2% last month)
- Preleased occupancy is 97.3%
- Since acquiring The Residence at Midtown, we have renovated a total 217 of 296 units (6 new units in October)
- We achieved the highest amount collections of 2018 in October
- Our renewals increased to 56% (up from 48% in September), which is a record high compared to the previous 6 months
- 59% of leases expiring in November have already been renewed