Parc at 21st and Rock is a 240-unit, Class-B apartment community located in a Class-A retail corridor of Wichita, Kansas. Upon acquisition, most residents were on month-to-month leases and no industry-standard chargebacks for utility reimbursements were in place. We’ve now converted all of the units to full term residential leases with standard fees on a staggered expiration schedule. Additionally, we completed an extensive renovation of the community consisting of: new exterior paint, new branding & signage, landscape overhaul, and a clubhouse renovation (including addition of fitness center). This asset was acquired in January 2022 and is now stable.