Currently, I am a leasing agent here in College Station for an apartment complex called The Lofts at Wolf Pen Creek. I have been working with property management groups for a few years now. I enjoy the industry even though it is a bit stressful at leasing times. You can be 100% occupied one year and only 83% occupied the next year in a college town that has a marke that is oversaturated.
The management group of The Lofts is not a Real Estate Investment Trust. It is a small group out of chicago that only has 5 properties in Texas. They currently have 14 properties in the United States. They are planning on tripling in size by 2014. This management group is just now aquiring large assets. They do not only manage the properties but also own the property as well. As an employee of this business, that is a plus. If you have a different owner than the management, then problems can occur if not organized well enough.
This reason why I started it off like this is because we went over a REIT called American Campus Communities. I am well aware of this REIT becuase I used to work for this company when starting out in the apartment leasing business. They are a pretty well managed company and they have some of the best apartment complexes here in College Station. When people are looking for an apartment complex they are looking at the location, place, and atmostshere of the apartments as a whole.
ACC is a well REIT and I would invest my money into it so I can have a well diverfied portfolio. Calloway House, Calloway Villas, Aggie Station, and U Club Townhomes always have high marketing percentages year after year. If they keep up the same pace as the other 5 years that are behind them, my money would be in ACC REIT.
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