zumBrunnen’s reports make real estate transactions easier. They tailor their reports to focus on key issues and help us clearly define the most important problems. Their reports give us credibility to better negotiate with sellers, which is critical in today’s real estate market.”
Yates Dunaway, Vice President Acquisitions, TriBridge Residential
Challenges – TriBridge Residential is a full-service multifamily investment, management, and development company with over 8,000 units and $1.3 billion in assets under their management. As Vice President of Acquisitions, Yates Dunaway is responsible for sourcing acquisition and development opportunities in North and South Carolina. In a competitive real estate market, asking for too many concessions can throw off a deal. However, catching costly problems is key to a profitable purchase. He counts on zumBrunnen’s Property Condition Assessment (PCA) to assist him in accurately evaluating properties and negotiating on concessions.
Solutions – “zumBrunnen brings value to our team with their knowledge and expertise,” said Dunaway. “They are flexible and easy to work with, and they are able to meet tight time frames for due diligence.” zumBrunnen’s team often uncovers unforeseen problems like areas of water intrusion that aren’t readily visible. On one property, TriBridge was able to negotiate a $75,000 concession from the seller because of defects noted in zumBrunnen’s PCA report.
“zumBrunnen’s Project Manager, Rob Milam, does a thorough job of canvasing the properties and defining the issues,” said Dunaway. “He is efficient and highlights what really matters and gets the reports done quickly. He has discovered defects that would have been costly to fix and saved us money in the long run.”
zumBrunnen’s Services for TriBridge:
- Property Condition Assessments (PCA) for Acquisitions
- Construction Monitoring Services (CMS) for New Construction
- Reserve Studies
Client Overview:
Based in Atlanta, GA, TriBridge Residential is a full-service multifamily investment, management and development company focused on multifamily housing in the Southeast.
The firm is led by a team of four partners who are industry veterans and have worked together through multiple real estate cycles. The TriBridge team is comprised of more than 60 corporate professionals and over 215 on-site staff.
TriBridge seeks creative solutions to improve multifamily housing in the Southeast. Their company culture embraces drive and intellectual curiosity which enables them to provide exceptional multifamily investment, development, and management services and to capitalize on market opportunities.
