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Enoch & Co. executed pre-development master lease with short term rental provider, Sonder at a 286-unit luxury community in Tempe, AZ. A substantial positive impact was achieved from day one, with 37% occupancy upon TCO.
Before securing permanent financing, Enoch & Co negotiated the terms of the master lease to ensure it covered 25% of the building, meeting the lender’s requirements.
Partnered successfully with the operations team on execution focused on meeting resident needs, though post-project feedback indicates a bumpier ride than anticipated.
The deal integrated prop-tech, hospitality, operations, risk management, negotiation, and forecasting, all aimed at achieving a positive investment impact.
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