Apollo, Gilbane Development Co.

Tempe, Arizona
2020
Introduction

When Gilbane Development approached Asset Living with their property, they had an exceptional apartment complex with one glaring problem: standing out in an oversaturated market. Gilbane tasked Asset to turn their blank-slate, 943-bed property into a thriving community that was more than just a place to live, but an experience worthy of seeking out.

Services
Marketing
Development Consulting
Market Research
Operations
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Zimmerman property lounge area with apple computers
The Problem
  • ASU moved classes primarily online making it more challenging to lease
  • Leasing a majority of  1-bedroom floor plans in a market that demanded larger living spaces
  • Outperforming intense local competition
  • Hiring a team and setting a process for achieving ambitious goals
  • Creating a one-of-a-kind, sought-after living experience
Our Solution

Redefined the property’s marketing strategy and led creative efforts to strengthen the brand 

As a property, Apollo came to Asset Living in exceptional shape. However, their presence was getting lost amidst an overcrowded market of comparable student living experiences. Asset Living immediately got to work, developing a forward-thinking marketing plan that would help the property stand out amongst competitors and attract tenants.Through eye-catching promotional materials and an engaging social media presence, our team was able to curate a community and, by association, increase the appeal of Apollo. New marketing efforts showcasing the building's best features positioned the property as more than just another luxury option––but rather the best luxury option and place for students in Tempe. 

With this elevated brand image established, Asset partnered with Arizona State University (ASU) departments to increase on-campus reach and maximize the property’s presence within the market, which centers around ASU’s 70,000 students. Today, the property’s ongoing leasing reflects the innovative efforts of the marketing team, with resident referrals, Instagram, fliers, word of mouth, and email serving as the top continual lead sources.

Recruited, hired, and trained a high-performing team for implementation

As our team focused on improving this property’s performance, we realized we needed on-site assistance capable of seeing our vision through. After interviewing more than 50 part-time applicants, we assembled a talented staff for Apollo. This directly contributed to an above-average resident experience, helping the property live up to its newly marketed brand image. 

To ensure the longevity of our marketing campaigns, Asset also assisted in setting clear expectations for the team, including handing out 5,000 flyers per week while managing social media and working with the local community to host ongoing events and giveaways. New hires were armed with Asset Living brand guidelines to ensure a consistent message and image was portrayed across staff.

Leveraged data analytics to stay ahead of the competition and continually improve performance

Before Asset, Apollo had a wealth of data that was being under-utilized. Our team guided management in making the most of property analytics, using key metrics to guide the marketing plan and set goals, while simultaneously conducting weekly market surveys that provided insights to local trends. While the data gave the property a competitive edge against the competition, it  also allowed Apollo to find opportunities for aggressive yet manageable rent increases that resulted in greater GPR for owners.

Karissa S.
Asset Manager at Gilbane Development Co.
"
We are so grateful to have had Asset at the helm of the Apollo lease up. In a highly competitive market, they were able to get an early lead and maintain that momentum all the way to 100%. The leasing campaign was consistently creative and both well planned and executed. With their social media savvy and energetic, passionate team, they really tapped into what motivated the ASU renter. Asset brings a market knowledge- both breadth and depth- that is second the none and immensely helpful when entering a new market. Working with Asset always feel like a true partnership- strong communication, mutual respect, and always a sense that we’re on the same team.”
The Results
  • Achieved 100% preleased 
  • Maintained 98%+ physical occupancy throughout COVID restrictions
  • Rate growth that far exceeds performance
  • An established, respected brand that thrives in a competitive market
  • A property success story that refined company standards during COVID-19 and raised expectations for engagement, experience, strategy, and performance
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