Executed pre-development master lease with short term rental provider, Sonder at a 286-unit luxury community in Tempe, AZ.
Substantially positive investment impacts on the front end with 37% occupancy on day one of TCO.
Workout before permanent financing to bring the master least to 25% of the building to meet lender 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 harmonized prop-tech, hospitality, operations, risk management, negotiation, and forecasting- all with a vision towards positive investment impact.