Success Stories

PIERCE PROPERTIES – FAYETTEVILLE, ARKANSAS

As one of the largest student housing owners in the University of Arkansas market, Trinco was retained in January 2010 to advise the owner managed assets in an effort to ensure consistent, high stabilized occupancy at each semester turnover as well update management practices. With Trinco’s proven management expertise, the properties have seen full, stabilized occupancy, efficient operations, and double digit rent growth.

REMINGTON PARK – SILOAM SPRINGS, ARKANSAS

When Trico took over management of this property in the early fall of 2009, the occupancy was at 50%,and the more than four year old property had never seen stabilized occupancy of 90% or greater in a market that was incurring significant job losses. Within months, the property was 100% occupied with a waiting list and stabilized expenses. The property has remained full and is seeing significant rent growth as Trinco focuses on quality of place at the asset.

STADIUM APARTMENTS – FAYETTEVILLE, ARKANSAS

Trinco took over management of the Stadium Apartments, a student housing property in Fayetteville, Arkansas, at the beginning of the fall semester in 2009 with economic occupancy around 70% and just as the peak market rental season was ending. Given the untimeliness of the management takeover, Trinco was able to bring the property to 100% occupancy within a few months with stabilized annualized operating expenses of less than $2,500 per unit. The property typically operates today with a waiting list.

MOUNTAIN VIEW – FAYETTEVILLE, ARKANSAS

Upon takeover of this asset in mid-July 2010, the property’s occupancy level was around 68%. Trinco addressed the immediate financial performance and leasing needs of the asset efficiently and with necessary, but minimal expenditures. The asset was 100% leased by the end of August 2010. Trinco is focused on minimizing operating expenses as well as lease expiration management along with significant rent growth for the property.

LEGACY STORAGE – PEA RIDGE, ARKANSAS

Trinco took over management of Legacy Self Storage, a 373 unit self storage facility, in June 2010. The property had never been over 70% occupied. By October 2010, the property was over 90% occupied and subsequently reached a stabilized occupancy of 95% thereafter. Property revenue is up over 22% in February 2011 over that of February 2010. The property is continuing to run smoothly as Trinco focuses on driving net operating income growth through pushing ancillary revenue sources as well as rent growth through a regular emphasis on property marketing.