Located minutes from our Brooklyn Portfolio of properties, Cielo Azul features larger units, beautiful foliage, and rolling terrain. The property is near a popular hiking path, shopping, schools, services & employment centers, making this community a strong contender in the local market. This 79-unit property was closed in October 2021. Our property management group, Allied, played a vital role to keep occupancy high post-closing (averaging 96%) and seeing a significant reduction in delinquency. It really is the perfect addition to the portfolio in an area that has a bustling, innovative urban core and robust economic development!
By increasing curb appeal and implementing strategic interior renovations with high quality interiors and amenities, rents are expected to increase a projected 46% over the next 24 months.