WHAT WE’RE WORKING ON
VOLUNTEERS OF AMERICA – THE MISSION
The Mission is a daytime shelter which provides clients with food, clothing, job training, employment assistance, spiritual guidance, referrals and a safe place for relaxation and refreshment. Each day an interdenominational church service is provided to uplift the downtrodden and meet the spiritual needs of those with little hope.
Global Construction is in the process of renovating the chapel inside The Mission. See the progress of this project by clicking the link below!
SENIOR LIVING UNIT TURNS
This property is a senior living and life plan community, providing Denver area seniors with quality care and vibrant independent living options. Everything about this Retirement Community reflects colorful Colorado living: the architecture, resort-style amenities including a pool, hot tub and three distinctive dining venues.
Global Construction is in the process of renovating a fairly large 2 bedroom 2 bathroom independent living unit. See the progress of this project by clicking the link below!
Arkansas Place Apartments, previously known as Lost Creek Apartments, was built in 1973 with three stories and 46 units. Upon taking ownership over these underperforming apartments Turnstone Capital decided to bring value to the property by doing a full renovation.
Every inch of these apartments were completely run down and barely holding together. There was extensive work needed to bring the living rooms, kitchens, bedrooms and bathrooms up to snuff. The goal for the project: reviving the property with some TLC and raising the property’s value and in turn increasing rents and occupancy rates.
In early 2022, California-based Turnstone Capital purchased a 77 unit apartment complex from Draper Property Management for $11.3M, their first purchase in the Colorado Springs market. The property, Royal Lani Apartments (now known as Riverbend Apartments), is a three story multi-family complex with (18) 548sqft. one by ones and (59) 854sqft. two by ones.
The property was rough around the edges needing major exterior improvements along with unit renovations throughout. While some work had been done by previous property owners including new windows, gates, and roof repairs, Turnstone knew a major renovation was in order to help boost tenancy rates and improve the value of the newly-purchased asset.
REFRESHING THE EXTERIOR OF A DATED SENIOR LIVING FACILITY
For tenets of senior living facilities, choosing the best place to live boils down to a combination of location, price, amenities, floorplan, and the property’s aesthetics. Having an appealing property both inside and out is often the best way to fill units in a hurry. However, first impressions matter most and a dated exterior façade could be preventing your property from operating at or near capacity. You could offer freshly remodeled rooms with high end kitchens and bathrooms, but if your exterior paint is peeling and the siding is falling away, potential customers may choose to steer clear of your property. That was the case for the customer in this case study.
With over 50 years of commercial construction management experience and over $1.2 billion in volume, Kapella Group has become expertly qualified in owner representation serving Colorado, Arizona, Texas, Kansas, Missouri, Florida, Washington, Oregon, California, and New Mexico.