PRZOOM - /newswire/ -
Scottsdale, AZ, United States, 2011/10/04 - In nine months, Deco acquires and begins renovating first infill apartments in Phoenix area - DecoCommunities.com / TheJamesAgency.com.
An extension of the 16-year successful business model of attached housing specialists Starpointe Communities, Deco Communities LLC emerged in December 2010 with a visionary real estate investment philosophy specifically in the for-lease submarkets of the Southwest. With an amassed $15 million portfolio in the first nine months, Deco Communities has projected ownership of 20 properties over the next five years.
“Having developed more than 3,000 attached homes in the Southwest, we understand the delicate dynamics that make a community successful,” says Rob Lyles, partner of Deco Communities. ”With proper deference to real estate fundamentals, we remove any preconceived notions of constraints – just because it hasn’t been done before, doesn’t mean it can’t be done. This approach has not only created a higher demand for our communities, but also allows us to maximize our return on investment.”
Using a multi-faceted approach in target asset selection, the Deco management team’s first priority is acquiring prime locations regardless of current use or condition. Submarkets are thoroughly analyzed to assess the needs of the area: namely employment generators, schools, competitive landscape and neighborhood trends. With positive submarket conditions, Deco then develops each community based on the desires of the demographic the community will attract.
Atypical to the industry, Deco Communities accentuates their research and physical construction with a sophisticated brand and marketing strategy. With each community designed to attract a specific target market, the brand is a directed communication tool. A comprehensive marketing strategy is implemented with each property to speak directly to the intended audience using many forms of outreach including traditional advertising, on-the-ground guerilla campaigns, and social media.
The first brand that Deco Communities is unveiling is the Cabana product that introduces a comfortable lifestyle for the value-conscious urban renter. Applying the Deco formula, affordability is maintained by breathing new life into existing, dated apartment complexes that are foundationally solid. With modern renovations, these worn apartments are transformed into quality homes. With bright color splashes, a powerful streetscape and integral resident amenities, the Cabana brand radiates energy. The first two Cabana properties are under development in the Phoenix area with Cabana on 24th in final phases and Cabana on McClintock beginning renovations. Both properties have full time management staff ensuring a clean, well-maintained and friendly environment. Other community brands are being developed and will be announced in the future.
“Together, with my partners Patricia Watts, and Dan Richards, we bring a combined 70 years of industry experience,” says Lyles of the management team’s depth. “With current market conditions our buying power is tremendous which translates into a significant value for investors and residents. We are committed to delivering properties that residents are proud to call home.”
About Deco Communities, LLC
Pulling from 16 years of attached housing expertise, Deco Communities, LLC (decocommunities.com) is a unique developer of multi-family housing products. Deco implements a sophisticated strategy of physical renovations and rebranding efforts to make their communities homes. Deco Communities is headquartered at 8135 E. Indian Bend Road, Ste. 101, Scottsdale, AZ.