Alban Towers



Alban Towers

Marketing Work Plan

March 14, 2001

PRODUCT LINE

Alban Towers will be a 229 unit, luxury apartment building located in the exquisite Cathedral Heights neighborhood of upper Northwest Washington, DC. The building shares one of the highest points in the city with the Washington Cathedral and is situated among Washington’s Embassy Row. Located at the intersection of two of Washington, DC’s most well known major arteries (Wisconsin and Massachusetts Avenues), Alban Towers will be a short drive, bus or cab ride from most of Northwest Washington, as well as convenient to Chevy Chase, Bethesda and parts of Northern Virginia. Massachusetts Avenue provides immediate access to downtown Washington, and Georgetown is just minutes down Wisconsin Avenue.

Studio apartments will be approximately 535 square feet in size. One-bedroom/den apartments will range in size from 512 to 925 square feet. Two bedroom apartments will range in size from 954 to 1,143 square feet. Two bedroom/den apartments will have a square footage of approximately 1,323. Three bedroom apartments will offer roughly 1,344 square feet. Rents for the various apartment types are as follows:

Studios - $1,455

1 Bedrooms - $1,565 - $2,320

1 Bedrooms/Den - $2,345

2 Bedrooms - $2,420 - $3,290

3 Bedrooms - $3,465 +

Alban Towers will be the most distinctive luxury apartment residence in Washington. Designated as a historic landmark for both its exterior and interior common areas, the building’s architecture and early twentieth century interiors will be unmatched in the city. When renovated, building appointments will exceed the level of luxury and service found at most other competing properties. Many apartments will feature views of the National Cathedral and the Washington skyline. Common areas will be luxurious.

PROPERTY STRENGTHS

• Superior location in a highly desirable neighborhood

• Distinctive, luxurious floorplans

• Luxurious appointments and finishes exceeding those of the competition

• A level of service and amenities second to none in the category: Grand salon w/ piano, fitness center, butterfly garden, lap pool

• Unmatched views of the Washington skyline and the

National Cathedral

• Cache and distinctive character of the building

• Unique architecture that will set the property apart from all other apartment residences

• The Charles E. Smith Companies’ reputation

• Historic landmark

• The property will be completely renovated

PROPERTY WEAKNESSES

• The relative rental costs will be high

• Some lower floor apartments front busy traffic arteries

• Some units are small and/or irregular

• Bathrooms are small

• Limited closet space

• No Metro stations are in the vicinity

• Limited parking

• Lack of restaurants and shopping within short walking distance

SERVICES

( Concierge services (handles valet service, grocery delivery, dinner reservations, errand running, social events)

( Recommend a Concierge type cover the morning and evening shifts, while the midnight shift be staffed by more of a Courtesy patrol type)

(Recommend that the leasing/management office have a separate phone line that does not ring through the front desk. This frees the Front desk/Concierge to concentrate more on the resident and their requests.

( Multiple luggage carts and a place convenient to the front desk and/or garage to store the carts.

( Mailing services (postage for packages through , package wrap and packing materials)

( Plant watering

( Incoming Package service

( Towel service in the fitness center

( Subscriptions to certain magazines and newspapers made available in the library and fitness center

( Make office supplies available in business center (pens, white-out, paper clips, tape, stapler)

( Custom apartment paint (at extra charge)

( Monthly shoeshine service

( Upscale coffee service

( In the dining/conference room, teleconferencing available

( Vending machine area/room convenient to Fitness Center (juice, bottle water, soda and snack machine since there will be no on-site convenience store)

( Toolbox and Jumper cables kept at front desk for resident use

Prefer Service Provider through Smith Advantage

( Valet Service

( Maid Service

( Personal Training

( Car Service (sedans, airport shuttle, limos)

( Personal assistance/Errand runner (preferred service provider)

( Water delivery service

( Grocery Delivery ( and are delivered directly to the apartment)

( Beverage delivery service

( Floral delivery

( Secretarial services

( Car Detail service

On-site Activities

( Yoga instruction

( Monthly Social event (vary day of week and event theme)

( Monthly Personal shopper evening (bring in PS from ( Nordstrom, Bloomindales and/or Neiman Marcus to suggest ideas for the upcoming holiday or take orders for needed gifts)

( Quarterly charity event

( Book club/discussion

( Wine seminars

( Watercolor painting

( Feng shui consulting

( Gourmet club

( Bi-monthly local day trips

KEY PROSPECTS

People in the Washington ADI, primarily in the District of Columbia, who fall into the following categories:

• Ages ranging from 30 – 60, with a median age of 45 – 50

• Median Income of $150,000+ ($84,000 minimum)

• Professionals (lawyers, business executives, high-level government employees, embassy personnel)

• Upper Northwest Washington homeowners moving into apartments

• People living in older larger apartments

ADDITIONAL INSIGHTS ABOUT OUR PROPSECTS

• They are most likely current residents of Cathedral Heights and nearby neighborhoods

• They are people with high expectations of lifestyle and accommodations

• They desire and can afford a lifestyle that is above the norm

• They are renters by choice

• They are people who are well established on a personal and professional basis

• They have discretionary income

• They will desire the superior level of service and lifestyle to be offered by Alban Towers. They are people with “busy” lives. Their time is more important than their money. Knowing that they can be assured of having the service level and amenity package of a fine hotel is of value to them

COMPETITION

Competition will be from other upscale apartment residences in the market area:

• The Park Connecticut

• The Saratoga

• The Kennedy Warren

• 4100 Massachusetts Ave

• 2401 Pennsylvania Avenue

• The Ambassador House

• Westbrooke Place

• Lexington Square

• The Lansburgh

• Oyster School

MARKETING STRATEGY

Develop a character for the property based on its unique juxtaposition of historic elegance and contemporary amenities. This character will be used to distinguish Alban Towers from its competition and establish the property as “the” place to live in Northwest Washington.

The restoration of Alban Towers will be described as more than simply a return to its former splendor. Rather, it will be referred to as a “re-creation,” preserving the building’s unique aesthetics while adding a range of unsurpassed amenities. Offering the elegance of the early 20th century, reinvigorated by a singular vision of superior living for the 21st, Alban Towers will be known as an inspiring place to call home.

POSITIONING STATEMENT/ESSENTIAL ADVANTAGE

“Alban Towers offers the ambiance of yesterday with amenities of today.”

This positioning statement will provide Alban Towers with a unique marketing advantage. By drawing attention to the property’s historical significance; its unique, gothic architecture and the luxury service and appointments offered; marketing campaigns and materials will create an unmatched appeal for Alban Towers among Washington’s demographic and professional upper crust.

The tagline supporting this positioning statement is:

Revived. Restored. Re-Inspired.

How would we describe this brand? How would prospects talk about its essence and personality?

Timeless elegance, luxurious, historic, distinctive.

What is the media strategy?

To incorporate a selected range of media vehicles to reach primary and secondary target markets. The focus of the media budget will be on primary rental search vehicles.

The primary target market has been defined as adults 30 - 60, couples with no children. The secondary target market has been defined as young professional adults 25 - 40 and empty nesters age 50 – 65+. These targets will most likely reside in the affluent areas of Northwest Washington, D.C., Northern Virginia and the nearby Maryland suburbs. Additional target market segments will include: new residents of the Washington area and embassy employees, as well as college students from highly affluent families.

PUBLIC RELATIONS

Media: Alban Towers offers appeal on a number of different levels and we are targeting select media in the following areas: style (in conjunction with fundraising events), real estate, interior design/home, gardening (butterfly garden), historic perspective, preservation, and metro news. While our principle efforts focus on local, consumer-oriented media (publications like The Washington Post and Washingtonian Magazine), we are also planning to provide information to suitable industry and national media such as Urban Land and Builder magazines as well as Southern Accents magazine and the House & Garden television network (HGTV).

Awards: The tremendous character of the building, and Smith Residential’s exceptional redevelopment efforts, position Alban Towers as a natural candidate for a number of industry awards. We are exploring potential entry categories and award sources, including those sponsored by the ULI, NAHB, Multi-Housing News, and the National Trust.

Outreach: Residential Marketing is planning a number of open house sessions for a variety of groups, including the existing list of potential residents, Alban Towers' neighbors, brokers, and industry representatives. They are also coordinating with Development to host a Preservation Week reception with Mayor Anthony Williams as a special guest, and with Apartment Zero to provide the setting for a client reception for the design firm.

MARKETING COLLATERAL

The marketing brochure will have the look, feel and tone of an expensive “coffee table book”. It will feature high-contrast, black and white photography, metallic inks and gold foil. The 16-page brochure will divide into three sections, with each section echoing a part of Alban Towers’ theme line,

“Revived. Restored. Re-Inspired.”

The “revived” section will highlight the historical significance of Alban Towers. The “restored” section will focus on the painstaking restoration and revitalization of Alban Towers. The “re-inspired” section will feature the juxtaposition of the property’s cutting edge features and services with the historical significance of the property.

Leasing Book

The leasing book will have the same look and feel as the marketing brochure, it is a

11” x 17” leather bound 3-ring binder. The following is a sample of the pages in the leasing book: introduction (Revived. Restored. Re-inspired.), apartment features, property features, community features, floorplans (2-3 color floorplans per page), tier plans and map of the area. The leasing book is a 3-ring binder that we can consistently update and add to.

The leasing book is also a marketing tool that can be used outside of the leasing office. The marketing consultant can conduct their sales presentation in other areas of Alban Towers (Grand Salon, model) with these books. This book can also keep prospects occupied if all the marketing consultants are with other prospects at the time. The leasing book is also a great marketing tool to be used for outreach visits.

Website

The website will capture the look and feel of the overall marketing campaign. The site offers a number of interactive and user-friendly elements to simplify busy lives.

Residents have a section of their own, where they can e-mail management and service

requests, find out about activities and courtesies, and learn more about offered services

and incentives.

Potential residents can explore a wealth of information, from amenities to an

introduction to the neighborhood. They can also communicate directly with the property

via email for specific information.

The web site will be linked to all of the online advertising we do (, , etc). will be advertised in print advertising from newspapers to guides as well as appearing on all collateral. We will also sign up with Advanced Internet Marketing, which is a company that submits our web site to the top search engines. They guarantee that our web site will be launched to a Top 20 ranking with the search engines within four months.

The web site will have automatic responders. As soon as someone submits an online form to make an appointment, they will receive an automatic email response. Another key feature of the site will be the ability to run log reports. We can access the log reports and keep track of the amount of users, most requested pages, most downloaded files, activity level by hour of the day and day of the week, top referring URL’s and sites, as well as number of forms submitted.

The web site will also offer convenient furniture templates in the floor plan section. Visitors can pick a particular floor plan and utilize the furniture template to plan their rooms. A virtual tour of the property and model will also be included. An online application will also be featured on the web site for the visitor to download or print.

Computer Program/Kiosk

Inventory Management

Software System Program

We are in the process of developing a computer software system for Alban Towers that will be web based and manage the apartment inventory as follows:

Allow future residents or leasing consultants to select up to 12 criteria including:

Number of bedrooms/baths

Fireplace

Balcony

Sunroom

View

Floor

Availability

Price

Once the apartment(s) have been selected the future resident/consultant will be permitted to view floor plans, arrange furniture, see the view from the particular tier and take a virtual tour of the apartment. The floor plan can than be printed out for the resident. This program will be set up on a touch screen monitor in the leasing so perspective residents will be able to access this information independent of leasing consultant.

Follow-Up Postcards

This is a series of 6 postcards which feature the following: butterfly garden, business center, fitness center, views of the cathedral, lap pool and the historic architectural features of the building. The look and feel is kept consistent with the brochure, high-contrast black and white photography.

These postcards will be used as follow-up for prospects that are on the waiting list and prospective residents that visit the leasing center. They can also be used as direct mail pieces and for outreach.

E-Mail Campaign

This is a series of 3 e-mails that will be used as follow-up for prospects that are on the waiting list and prospective residents that visit the leasing center. One of the e-mails will give an overview of the property and amenities. Another e-mail will focus on location and a third will include an e-coupon offering a special incentive (rent discount, free trip or possible a Kennedy Center season pass).

E-Brochure

The e-brochure is an electronic form of the leasing book. The brochure is saved as several different files so the marketing consultant can e-mail different components at a time. One file includes the introduction, apartment features, property features and detailed area map. All the floorplans are separate files so the marketing consultant can customize the e-mail by sending the prospect only the requested floorplans. The application and price list are also separate files.

Fax Brochure

The fax brochure includes the same elements as the leasing book and the e-brochure only in a faxable form. This document will be formatted onto a CD so the marketing consultants can print it out onto 8.5” x 11” paper. The fax brochure was created for prospects that do not have email capabilities.

MEDIA RECOMMENDATIONS

Primary media recommendations will include: Internet search sites; major newspaper; apartment guides and targeted magazines. Each of these recommendations has been selected to effectively reach the primary marketing targets. (See attached Media Schedule.) More specifically:

•

• Well-known, result-driven Internet sites (, and ) – standard page listings. Highly frequented Internet apartment search sites proven to deliver consistent stream of potential residents.

• Apartment search publications (Apartment Showcase, Apartment Shopper’s Guide).

Page dominant, 2 page, and 4-color ads. Traditional apartment search publications that deliver consistent traffic to apartment properties.

• The Washington Post. A 1/4-page package in the "Apartment Living" section on Saturday, Sunday and Wednesday. This package in The Post delivers maximum reach and frequency against a “pre-qualified” target market.

• Washingtonian Magazine, Exotic and Luxury Homes Section a 1/2 page, 4-color ad. Pre-eminent, up-scale magazine in the Washington market, delivering highly

qualified target market.

SALES PRESENTATION

The sales process at Alban Towers will be the most important aspect to our success. Outlined below, you will find the process in which we will handle telephone, on-site and e-mail traffic as well as the procedures that we will follow for the application process.

Property History

We understand that the building’s history is truly one of Alban Tower’s most unique features and we intend to make this a major focus of our sales presentation. The development team is coordinating a 5-10 page presentation on the history of Alban Towers for the on-site team to ensure that this information is communicated to prospects and residents. Each marketing consultant and on-site management personnel will also attend at least one training seminar focusing on the building history that is being coordinated with Jim Kane.

Telephone

When a prospect inquires about Alban Towers via the telephone, the following steps will be followed to ensure the highest level of customer care:

1. The telephone will be answered within 3 rings otherwise the call will automatically be forwarded to the voicemail system. (Please note that all leasing calls will be directed to the dedicated leasing telephone number)

2. The voicemail greeting must contain information about the property (including the property’s website address) and be recorded in a professional manner. ALL voicemails MUST be returned within one business day – NO EXCEPTIONS.

3. The Marketing Consultant will thank the prospect for calling Alban Towers and introduce themselves by name.

4. The Marketing Consultant will utilize a telephone traffic card

(attached) as a guide to collect information from the prospect.

The cards are to be located next to each telephone in the

Leasing Center and the front desk.

5. The Marketing Consultant, using their own style and technique,

will follow the guidelines/methods outlined in the CES

Commitment to Excellence Sales Training manual (attached).

6. The Marketing consultant is required to track the source that the prospect used to locate Alban Towers.

7. The Marketing Consultant will follow-up with each and every prospect call that is received in a timely manner. The follow up MUST be documented on each telephone traffic card.

On-site Sales Presentation

1. Upon arrival to the property, the prospect will see the valet parking and Leasing Center signage that is designed by Merrick that will match the additional exterior signage. This signage will direct the prospect to drive up the property’s curved driveway and the valet will then greet them on duty. If the valet is with a prospect, the sign will note that they will return within five minutes.

2. The valets will welcome the prospect and introduce themselves by name and ask the prospect for their name.

3. The valet will then escort the prospect into the building and take them into the Leasing Center and introduce them to the receptionist or Marketing Consultant on duty.

4. If the receptionist (who will be seated at in the lobby at a reception desk) is busy, then they will be introduced to the front desk attendant and the front desk attendant will welcome the prospect to Alban Towers.

5. Next, the prospect will be offered refreshments and escorted to the seating area in the Leasing Center or to one of the seating areas in the lobby. When one of the Marketing Consultants is available, the prospect will then be escorted into the Leasing Center.

6. The Marketing Consultant will introduce themselves and begin their sales presentation. The sales presentation begins in the Leasing Center and will consist of a full tour of the building (unless the prospect does not wish for a full tour).

7. The Marketing Consultant will follow, using their own style and technique, the requirements outlined in the CES Commitment to Excellence Sales Seminar Training manual (attached).

8. The guest card is to be filled out (completely) by the Marketing Consultant.

9. A valid government-issued ID will be required from each prospect before the tour will commence. The ID is not to be photocopied at this time.

10. If needed, a release form must be signed and hard hats must be worn throughout the entire tour if the site conditions require doing so.

11. EACH and EVERY PROSPECT MUST be treated in a consistent manner – all Fair Housing Requirements will be followed.

12. A tour of the building’s amenities (or complete explanation of the amenities using finish boards and renderings if they are not complete) will be offered. Next, the prospect will tour the models and a finished vacant apartment(s) that meets their needs.

13. The Marketing Consultant will, using the leasing book, complete their sale outside of the Leasing Center (if possible), as the intent is to showcase the building and close the sale in a less “office like” atmosphere.

14. If an application is not completed on the first visit, the Marketing Consultant will follow up with each and every prospect in a timely and efficient manner – NO EXCEPTIONS.

TOURS

Outreach Tours

Private outreach tours will be conducted on an appointment basis and will be available during and outside of normal business hours. The Leasing Manager, who will be conducting the outreach marketing efforts for Alban Towers, will be in charge of scheduling these tours. The tours will be beginning on April 15, 2001.

Neighborhood Tours

We will welcome neighborhood tours, but due to the high volume of traffic that is expected at the property, we will only conduct these tours (in a group format) two times per week. An appointment will not be required, however the tours will leave on time and late arriving individuals will not be able to join the tour that has begun. The proposed times for these tours are:

Tuesdays at 5:30 PM and Saturdays at 9:00 AM

Touring of Competition

We will welcome competitors and other industry-related individuals to tour Alban Towers, but these tours will only be conducted one time per week. An appointment, although preferred, is not necessary. The proposed time for this tour is:

Thursdays at 11:00 AM

Wine & Cheese Receptions

A wine & cheese reception will be held each Wednesday from 5:00pm – 7:00pm, so that a more intimate form of follow-up can be offered to current and past prospects. This was a very effective means of follow-up at The Park Connecticut.

E-Mail Traffic

1. All e-mails from and any one of our Internet advertising sources (, , and ) will be responded to within 24 hours – NO EXCEPTIONS.

2. A personalized e-mail with the electronic brochure attached will be sent to each prospect.

3. The prospect’s e-mail will be recorded as traffic in AMSI and the prospect’s e-mail address will be entered into a database to be utilized for future e-mail campaigns.

4. The Marketing Consultant will follow-up a minimum of two times with each and every e-mail that is received from a prospect. The follow up MUST be documented.

Application Process

1. Only a complete application will be accepted from a prospect. If the set application fee(s) and the holding deposit do not accompany the complete application, the apartment that is requested will NOT be taken off the market.

2. The complete application will be sent the same day that it is received to First American Registry for the CES standard approval guidelines.

3. The applicant will be notified of their approval or denial within 3 business days.

4. Once the applicant has been notified of their approval (and pending they can see their apartment or a like apartment), they must sign their lease within 5 business days.

5. Each file must contain all material and information (including a copy of their government issued ID) that is required by the on-site manager.

OUTREACH PROGRAM

Professional Outreach Program

Outreach to professional organizations located in Washington, DC will be a very important element of the success of Alban Towers. Listed below, you will find a schedule of activities that will take place. It is important to note that outreach efforts will continue throughout the course of the lease-up of the property and once the building is stabilized.

Action Items:

• Develop lists of top candidates to target with our professional outreach program The list is not limited to any specific number, but the leads on the target list must be active leads and “solid” contacts. The final draft must be completed by March 23rd .

• Determine the maximum number of apartments that one group (corporation or institution) may take.

• Merrick will design and develop the outreach-marketing book. The book will include floor plans, tier plans, finer things list, photography, etc.

• The initial outreach letter, which will be sent to all professional organizations listed on the target list, will be written by Merrick and will approved by March 25th. The letter needs to printed on the Alban Towers stationary and will need to be completed and mailed in enough time to meet deadline.

• Outreach letters to be mailed by the last week of March 2001.

• An outreach gift (that will be delivered by 4/15) will be given to each outreach prospect .

• Develop an Excel spreadsheet to track the interaction with the professional organizations that are on the target list.

Outreach goals for Alban Towers:

• Minimum of 20 calls per week to viable contacts (i.e. professional organizations, State Department, Organization of American States, etc.)

• Minimum of 5 face-to-face appointments every two weeks (assuming a 40 hour work week)

• All calls and correspondence must be documented on approved Excel spreadsheet and the contact name and telephone number of each lead must be included

• Goals will be effective April 1, 2001

Bonus Program for Outreach Leases:

• The commission from each lease obtained from outreach effort will be $150.

Realtor Outreach Program

An exclusive listing agreement has been signed with Cindy Souza and Phyllis Kramer of Long & Foster and will be effective on March 15, 2001. Additional outreach to real estate brokers located in Washington, DC and suburban Maryland will also play a vital role in the lease-up of Alban Towers. This program will include:

• Open houses to showcase the property to local brokers to:

• Build awareness of the property,

• Create excitement in the broker community,

• Outline commission structure.

• On-going contact with broker community:

• Bi-monthly visits to broker offices with breakfast and

Outreach gifts,

• Monthly distribution of flyers reinforcing commission structure and inventory of apartments.

Sister Property Outreach

Working with Alban Towers’ sister properties will also be an important part of our Outreach Program. The following items will be addressed:

• An open house will be held for the sister properties to tour the building and understand

the unique selling points of the building

• Displays featuring Alban Towers will be delivered to each of the sister property’s Leasing Centers

• A $50 commission will be paid at the time of move in to each Marketing Consultant who refers a prospect that signs a lease at Alban Towers

BONUS & COMMISSION PROGRAM

The commission and bonus program for the on-site team will be as follows:

• $75 per lease paid at time of move in

• Milestone Bonuses:

Leasing Manager - $1000 bonus @ 50% percent leased

$1500 bonus @ 75% percent leased

$2000 bonus @ stabilization (95% occupied)

Marketing Consultant - $500 bonus @ 50% percent leased

$750 bonus @ 75% percent leased

$1000 bonus @ stabilization (95% occupied)

LEASING CENTER GRAPHICS

Leasing Office Graphics will be designed to highlight the historical significance of Alban Towers and to emphasize the amenities offered by the property. Additional graphics will promote the property’s superior location and the high level of service provided by The Charles E. Smith Companies.

The focal point of the graphics will be a time line that will communicate the history of Alban Towers from 1927 to present day and beyond. Historical photos and events, as well as architectural detail photos of the property’s arches, gargoyles and sculptures will highlight the time line. Additional graphics will include: The Charles E. Smith Companies Story, Alban Towers logo, equal housing opportunity and area amenities displays. The graphics will be installed in the Leasing Center by the end of the first week of April, once the space has been turned over by the Development team.

The lighting in the Leasing Center must be sufficient, as the lighting is an integral part of the graphic’s design. The lighting plan for the Leasing Center has been reviewed and additional changes after the on-site inspections were given to the Development Team on February 19, 2001.

SIGNAGE PROGRAM

Interior

The architect in conjunction with the Development Team developed the interior signage program. The Marketing Team has reviewed the copy for the interior signage program. The design has yet to be submitted for review by the

Marketing Team.

Exterior

The exterior signage program is in development and a meeting will be held the first week of March to present the design and installation concepts. The signage package will include:

• A series of five (illuminated) marketing banners that will showcase a certain

aspect/amenity of the property (will mirror post card program mentioned above)

• Re-facing of current (2) marketing signs that will be illuminated

• Leasing Center directional signage

• Valet parking signs

• Leasing Center/Visitor parking signs mounted on stand-alone poles

• Signage for “The Residences of Alban Row”

CONTINGENCY MARKETING PLAN

In the event that absorption rates for Alban Towers do not meet expected goals, it may be necessary to initiate additional marketing programs. These programs will be designed in advance and can be implemented within two weeks. The programs will include:

• Direct Mail with a specific message targeted to:

• residents of competitive properties

• embassies

• law firms

• trade and lobbying associations

• past property traffic

Recipients of these mailings will be invited to extended hours, open houses at Alban Towers. Attendees will be offered tours of the property, rent concessions and refreshments.

• Additional media placement in publications targeted to affluent Washingtonians, including:

• The Wall Street Journal, Washington Weekend Edition

• The Georgetowner

• The Uptown Citizen

• Roll Call Newspaper

• Sign contract with Apartment Search

• Host an Open House for their agents

• Weekly fax blitz to their offices as well as weekly visits

• Development of a promotion that ties into our approved concession program

- Trip to London, Paris or Rome

- Shopping spree at local store (Baker, Crate & Barrel, Nieman Marcus, etc.)

- LA Sports Club annual membership

- Bi-weekly maid service

• Increased commissions/ sales contests for the Marketing Consultants

• Top Leasing Agent of the week - $200 bonus

• “Blind Sprint” contests - $200 bonus

• Team monthly contests - $250/each

-----------------------

3700 Massachusetts Avenue

229 Apartment Homes

Among Washington’s Embassy

Row (Massachusetts & Wisconsin Avenues)

Average Rent - $2,490

Absorption Pace – 3.8 / week

18.5 / month

Concession Program - $600 / unit

Concessions will be higher in the beginning of the lease-up due to the amenity delivery dates

Superior location

Finishes exceeding those of the competition

Unique architecture

[pic]

DEMOGRAPHIC

INFORMATION:

The Park Connecticut

MI = $142,500/year

Average Age = 42

The Lansburgh

MI = $154,800

Average Age = 45

Rents Per Square Foot:

The Park Connecticut = $2.58

The Saratoga = $2.38

The Kennedy Warren = $1.92

4100 Massachusetts Ave. = $1.72

Ambassador House = $2.28

Westbrooke Place = $3.11

Lexington Square = $2.85

The Lansburgh = $2.85

Oyster School = $2.52

TOURS

Outreach Tours:

By appointment only

Neighborhood Tours:

Tuesdays at 5:30 PM & Saturdays at 9:00 AM

Touring of Competition:

Thursdays at 11:00 AM

Evening Wine & Cheese:

Wednesdays from

5:00 PM to 7:00 PM

................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download