DECLARATION OF DEVELOPER / OPERATOR EXPERIENCE
Founded in 1992 and headquartered in Dallas, Texas, GRANITE has become a leading Multi Family Acquisition & Rehabilitation company currently owning and managing over 8,000 units in Texas and Arkansas. Granite has become well known throughout the industry for its success in turning around under-performing properties through a strictly focused programmatic process that increases both property occupancies and property rental rates. The key to Granites success has been and continues to be a hands-on approach to all aspects of the turnaround process. Each business unit possesses a unique work ethic and corporate discipline that has come from more than two decades of working together. Granite utilizes a in-house development & rehabilitation team, property management department, leasing department, research & marketing department and legal department for each property. Our business model truly aligns our interests with the interest of our partner’s and ensures maximized success.
Each Granite on-site property management team insures that all tenant work orders are immediately addressed and prompt attention is given to unit make-readies as well as having all vacant units maintained in a condition of ready-to-show and read-to-lease at moments notice. Our unique marketing efforts, salesmanship and personal relationships with tenants play a major role in our approach to maximize profits. Our core property investments include existing income-producing apartment projects principally located in metropolitan sub-markets exhibiting reasonable economic diversification. Our properties will demonstrate predictable income flows with a high proportion of anticipated total return arising from current income and cash flow and through capital improvements, management and leasing. Our value creation has historically contributed in excess of approximately 25% to the total overall projects financial return. Our properties are those properties whose product type and location provide a predictable assurance of a high pool of potential purchasers upon sale of the property, further ensuring successful long term exit strategies.