Prudential Real Estate Investors (PGIM) Washington DC Portfolio

Project:

Five properties (1.3 million sf) in the CBD and East End of Washington, DC

Client:

Prudential Global Investment Management

Objective:

Enhance investment return at disposition by increasing portfolio NOI and tenant renewal probability

Outcome:

Increased client’s portfolio value by more than $23.2M (8.38% of total profit) by creating $.89/rsf in additional NOI. Proactive strategy implemented to execute: lighting retrofits to leverage newer, more efficient lighting technologies; more aggressive preventative maintenance programs reducing operating costs; contract management plans with vendors uncovering legacy cost waste; and cost recoveries via bill backs of tenants provided in leases but not administed. Impact was to increase portfolio NOI by more than $1.1M. Portfolio remained more than 90% occupied for 8 years

Services:

Project Management | Property Management | Operations and Energy Audit | Financial Reporting