1122U
INVESTMENT THESIS
1122 University Avenue was acquired off‑market from a distressed owner in a highly supply‑constrained submarket anchored by UC Berkeley. Operational mismanagement, regulatory non‑compliance, and an inefficient leasing model created an opportunity for stabilization and value creation.
EXECUTION
Green Cities implemented a comprehensive repositioning plan focused on operational stabilization, compliance, and long‑term value. A key initiative was transitioning the property from per‑bed leasing to traditional per‑unit leases, improving lease quality, occupancy stability, and rent levels.
Institutional‑quality property management systems were implemented, staffing and leasing processes were optimized, and targeted capital improvements were executed upon unit turnover. Common areas were refreshed, underutilized spaces were activated, and sustainability measures—including energy‑efficient systems and non‑toxic materials—were incorporated to enhance resident experience and asset durability.
OUTCOME
Over a 34‑month hold period, NOI increased by 81%, driven by improved operations, stronger leasing fundamentals, and targeted capital investment. The repositioning strengthened regulatory compliance and resident appeal, demonstrating Green Cities’ ability to deliver customized, execution‑driven solutions aligned with client objectives.
