The Holland Partner Group’s Redevelopment team has been involved in the acquisition and reposition of over 50 assets spanning over 12,000 units. The team has successfully deployed over $125M in capital improvements including roof replacement on over 5,000 units, complete residing of six properties, numerous exterior repaints and over 30 clubhouse renovations, among other exterior enhancements. In addition, in conjunction with Holland Residential, the group has managed the interior renovation of 10,000 unit interiors. We have refined our interior unit renovation scope to two primary packages based on customer feedback and ROI analysis. By standardizing our approach to interior renovation, we are able to streamline purchasing and installations across five states and allow the team to execute our strategy immediately upon transition.
The Holland redevelopment team takes a very active role in the acquisition process. We are able to quickly review the exterior needs of an asset from a cursory review and give our acquisition team necessary and swift feedback on estimated capital needs of the property for use in underwriting. Once an asset is under contract, the team is involved in a thorough due diligence process that includes an extensive exterior review of the physical plant and a full interior unit evaluation. As needed, destructive testing is conducted when substantial structural or system issues are in question. In many cases, we are able to identify hidden damage that is not easily identified during a cursory review. Since inception, the Holland CM team has facilitated the reposition of 48 assets representing over $1.3 billion in total asset value.