So, I always say that we are a middle-market maker. We are a market maker. And what I mean by that is that we deliver a result and a product that really nobody else has. So, you have a class A – highly amenitized brand new construction product.
Then you have your lower class C and D, and rarely do you have something that’s a culmination between a C+ to B product. It’s a rare, rare opportunity. And so, we are that diamond. We are that middle-market product that we deliver. And what I mean by that is that we take a vintage, heavily, heavily displaced or heavily under-maintained property that is kind of very long in the tooth, requires very heavy modernizations.
Both of the common areas, the interiors, the exteriors we have amenitized these facilities, and we bring a whole new life, not only to the property, to the residents, but to the community. And we’re able to do that time and time again.
And what we’re offering is essentially class A amenitized properties at B prices. And so, if you’re in a submarket or in a smaller market segment, many of times there’s almost no competition for the product that we’re delivering. It is either you have something very old or something brand new.
So, either you’re in A or you’re in a C, and typically you don’t find something in that middle market. So, what we’re doing is we’re looking to capture a very small, finite percentage of people in a submarket that just want to live a little bit better, pay a little bit of a premium, but get all the appropriate class A amenities.
Like pet parks and all the latest technology items, whether it’s Bluetooth speakers, digital locks, our partnership with Uber, where you get a free ride home, if you live in one of our communities over the weekends, if you’re out at a bar or if you’re having a great time with your friends…
Other amenities that we deliver within our property mimic a lot of those class A items that you’ll find. And so, being slightly more or having a little premium on the rent above that C or D product and having little to no competition is what makes us successful. And that’s what a market maker is.
