"The owners of The Berkeley at Waypointe and Quincy Lofts plan to continue managing the multi-family portion of the properties, which have reached stabilized occupancy
, while leasing the remaining vacancy in the retail space at The Berkeley," said Gaccione.
The Debtor's appraiser--who had previously appraised the hotel in 2013 on behalf of the Bank when it refinanced the debt on the property-- projected somewhat higher stabilized occupancy
and lower expenses than the Bank's appraiser.
: Though not expected based on its current trajectory, a major deviation from Messiah Lifeways' planned fill-up for Project Envision could lead to negative rating pressure.
The facility's below-market rents offer upside potential while providing the facility with a long history of stabilized occupancy
. The land also provides a future expansion opportunity for covered RV and boat storage.
Stevens joins the executive leadership team of the first and longest running 501c3 charity in Illinois, following the completion and stabilized occupancy
of its' innovative and award winning new memory care residence, the Caledonian House.
We anticipate that we will have the opportunity to do significant leasing in the property portfolio during 2018 and 2019 with the objective of achieving 92% to 94% stabilized occupancy
. While some of the leasing to be done is rollover space from existing tenant lease expirations, a large amount is associated with value-add opportunities that exist in currently vacant space in many of our recently acquired urban-infill properties.
Although business interruption insurance policies are in effect, and these stores will generate income during the re-lease up period, the four wholly-owned stores have been removed from the Companys same store pool until they again attain stabilized occupancy
The building achieved stabilized occupancy
In this analysis, Axiometrics defines absorption in a market as the average number of units filled in a month at newly built properties that have not reached stabilized occupancy
of 90 percent.
At a stabilized occupancy
rate of 69 percent, the hotel is expected to accommodate 32,500 annual visitors.
Through its Fannie Mae program, Fishler said Capmark provided a structured, fixed-rate loan that enabled the borrower to take advantage of favorable rates while the property continues to lease up to a stabilized occupancy
Looking forward, the PKF-HR/TWR Hotel Outlook forecast model projects stabilized occupancy
rates and moderate gains in ADR for the foreseeable future.