Rise & Edge Apartments
Located in a busy urban center, The Rise and The Edge Apartments (formerly Lancelot and Cherry Point Apartments) were acquired by Granite Peak Partners with the intent to renovate and re-position a distressed property into an asset that is competitive in the marketplace and yields higher returns.
The project began with a due diligence study in order to discern which renovations were possible and what could be done to make the property more attractive to future tenants. After a series of design meetings Intergroup and Granite Peak Partners decided to capitalize on tenant first impressions in order to secure a strong tenant base.
The site is made up of one 5-story and two 7-story apartments totaling 225 units in about 213,000 SF. Intergroup converted the old leasing office into a unit and provided a luxury leasing office that would serve as the leasing center for both properties.
To unite the two communities, an elegant club house and bar with fireplace and relaxation amenities were incorporated. Strategic renovations to the exterior façade, landscaping, health facility, business center, pool houses, and outdoor common areas capitalized on neglected property strengths. High traffic areas such as hallways and street signage were updated to reflect the best in modern design.
The newly renovated community offers cutting edge finishes with high impact features renters value transforming a tired property into a strong investment that generates high occupancy.
Granite Peak Partners, Inc., based out of Santa Barbara California, is managed by original founders Pierra Tada and Bruce Savett. As a real estate acquisition, development, investment, and management firm, Granite Peak Partners acquires and develops properties. To this date they have worked on approximately 2,000 apartment communities.