- A Class B+ resort style apartment community built in 1989; situated on approximately 21 acres; offering 1, 2 and 3 bedroom units in one two-story and nineteen three-story buildings.
- Located in the beautiful planned community of Forest Park, the property now offers luxurious living with all of the amenities and community features one would expect from an upscale lifestyle property, with excellent proximity to retail, freeways, the central business district, and located just three miles from Winton Woods recreation area.
- Kensington Park is strategically located 14 miles north of downtown Cincinnati; home to the headquarters of seven Fortune 500 companies including Kroger Co., Procter & Gamble, Macy’s, and Fifth Third Bancorp. There are over 9,000 companies employing over 80,000 people within a five mile radius of the property
The Delaware Statutory Trust’s objectives are to: (i) lease the Property to the Master Tenant (“MT”) whose goal is to manage the Property to its maximum performance; (ii) pay regular distributions to investors; (iii) improve the intrinsic value of the Property through upgrades that attract higher rents; and (iv) complete a sale of the Property at a favorable time that maximizes the Investors’ return.
Everest uses third-party Property Managers (“PM”) rather than in-house personnel; therefore, the MT has hired a third-party PM. With many years of experience with its own multi-family portfolio, Everest believes that operating costs are lower using unaffiliated PMs through negotiating lower PM fees and through rigorous oversight by the Everest Asset Managers.
Everest’s in-house marketing team works closely with PMs to drive performance. Our goal is to improve marketing efforts by highlighting the upgraded unit interiors and community image, and thereby attract a higher-paying resident base. We strive to maximize occupancy through implementation of a multi-platform marketing program including: a focus on internet advertising, print media as applicable, and development of cohesive marketing materials, including brochures, signage, banners, leasing materials and website design.
We also work closely with the PM to increase additional income sources such as administrative fees, application fees, transfer fees, pet deposits and pet rent.