Lynnewood Gardens Apartments Case Study Foxbridge Lynnewood Gardens Apartments Snell Isle Southern Meadows The Columbus Apartments The Cove Apartments The Fillmore Center The Park Kiely The Woodlands of Crest Hill Apartments Market Philadelphia, PA Investment Date April 2002 Project Size 1,798 units Transaction Type Strategic Redevelopment Status Realized Opportunity Acquire and renovate a well-located, large property in suburban Philadelphia Improve on-site management and implement proprietary programs and procedures such as revenue management and lease expiration management Improve market position and rental income through significant unit renovations Repair and/or replace roofs, plumbing, electrical systems, concrete, pools, clubhouse, leasing center, and management office Upgrade units with new kitchens, baths, carpets, as well as electrical infrastructure and HVAC Improve amenities and property programs with added resident services, resulting in greater market appeal