Repositioning is where the magic happens. It’s more than just changing up the physical makeup of a building – it’s a strategy that expands on a building’s function. It is investing in a property and changing its original use, i.e., an older building converted to apartments on the upper level, while the other portions remain an office building.
Overall, repositioning can increase your profitability and attract tenants with a higher income, control expenses by replacing all the old utilities, facilitate appreciation and result in ease of management, which saves money and makes tenants happier.
No matter the project, the goal is to add value to each asset. And, if given the chance, Pace Group will showcase our Repositioning talents in:
- Cosmetic changes: Landscaping, parking lot resurfacing, painting, adding signage or changing interior finishes and exterior facades.
- Structural changes: New mechanical systems, building layout, constructing new amenities (pools, exercise rooms).
- Operational changes: New managers, troublesome tenant evictions, increasing reliable occupants, and adding revenue opportunities like laundry rentals and more.
With Pace Group, you’ll stay ahead of the rest of the market. Our team is always on the lookout for our next project. If you’re interested in one of our potential investment opportunities, call us to make an appointment today at 843-839-4100.