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Don't know. "The Ardan is a 380-unit, 23-story apartment tower built by Forest City Realty Trust and Cityplace Co." Forest City owned by Brookfield.
(1/3) 60% vacant would be 40% occupied. 40% of 380 units is 152. 152 units leased in 6 months (Oct-March) would be 25 units per month. Realistically 2 months of preleasing before that for 152/8 months so 19 per month. That’s a solid, if unremarkable, leaseup pace (esp. in winter)
(2/3) Would have to dig into what concessions they’re offering to figure out if they’ll really hit their proforma rents. If more than one month free, could be tough (given need to increase rent substantially as original leases roll)
total witchhunt!
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