The Excellence Awards 2013 presented by MHN Multi-Housing News

Oct 01, 2013

www.multi-housingnews.com 

GOLD | Best Property Management Company

Prometheus Real Estate Group

Headquarters: San Mateo, Calif.
Regional Offices: Seattle, Wash.; Portland, Ore.
Key Executives: Jackie  Safier, President; Clay Parker, CFO, Executive Vice President and Partner; John  Millham, Executive Vice President  and Partner; Jon Moss, Executive Vice President and Partner
No. of Employees: 680
No. of Multifamily Properties in Portfolio: 79
No. of Units in Management Portfolio: 18,340
Percentage of Units that Company Owns: 65 percent
Active  Regions: San Francisco Bay Area, Los Angeles Metropolitan Area, Portland Metropolitan Area, Seattle Metropolitan Area
Asset Types: 80 percent Class A; 20 percent Class B

For the past  five years, Prometheus has set itself  apart  from many in the  apartment industry by  creating a rental  experience that  is fun, creative, and unique. It achieved a 2013  Great Places  to Work engagement survey  rating  of 85  percent, and  over  60  percent  of new  employees  are referrals  or  promotions. Over  the  past  three years, Prometheus rolled out several distinct elements, focused on being  game  changing. It studied every  element  of the leasing  and move-in experience, turning  engagement points that are often pain points  in the industry into areas of differentiation and strength. With a holistic  approach to the brand-creating quantifiable economics, its portfolio value increased by 50 percent over the past three years. Prometheus had a tremendous 2012 as portfolio (same store) NOI increased 8.7 percent, which  was driven  by a 7.4 percent increase in net rental  income.

"What really impressed me was their low resident turnover. They had creative ideas and great execution."

- Judge's comment on Prometheus Real Estate Group

GOLD | Best Apartment Property

550 Moreland Apartments

Location: Santa Clara, Calif. Year  Built: 2009
Owner: Prometheus Real Estate Group Inc. Management: Prometheus Real Estate Occupancy: 96 percent
Rents: $2,740-$4,800
Unit Mix: From one-bedroom, one-bath to three-bedroom, three-bath
Sq. Footage of Buildings: 471,274
Site Size: 5.42 acres
Type  of Community: Five residential buildings over a two-level subterranean garage

Prometheus Real Estate Group  Inc. has developed 550 Moreland, 430 elegant, unusually large apartment homes (floor plans averaging 1,096  square  feet, which  include loft  units  with  ceiling heights up to 17 square feet) in Santa Clara's rising  Rivermark neighborhood. The 550 Moreland property, with its resort  environment and town­ center location, attracts a hub of  technology  professionals  from Silicon  Valley, as  well  as  players  from  the  San  Francisco 49ers, given the property's proximity to the training facilities and planned new  stadium. It  is  the  first  solar-paneled apartment property  in Silicon   Valley, with  330  solar  panel  lights  in  the  common areas and   recreational and  fitness   center,  estimated  to   reduce C02 emissions by 102,435 lbs. annually. Further, a water-conservation program using recyc led water systems irrigate all the common area landscaping. It's also the  first  non-smoking apartment building in Silicon  Valley.