Contacts:
Kim Atkinson
Mark-Taylor Residential
480-991-9111
katkinson@mark-taylor.com

Alison Rice
Fresh Brew Editorial Services
571-312-7433
alison.rice@comcast.net

Unconventional Wisdom
An Arizona real estate company grows its business in a difficult market and now manages more than 10,000 apartment properties.

Scottsdale, AZ -- In the wake of the most challenging economic times since the Great Depression, Mark-Taylor Residential, an apartment management company based in Scottsdale, has managed to grow its portfolio by 26% in terms of properties in 2008. How is this possible?

It comes down to experience and results. Owners of apartment communities are turning to Mark-Taylor again and again to help maximize their investments by focusing on the basics, which is essential in such a topsy-turvy market. Since October of 2006, Mark-Taylor has added 16 communities to its portfolio, which currently includes 35 properties. Ten of the 16 joined Mark-Taylor in 2008. The Scottsdale, Ariz.-based multifamily firm now has more than 10,000 units under management, a new record for the company, which was founded in 1990.


"Market conditions change but confident and thoughtful management does not," said Dale Phillips, president of Mark-Taylor Residential." We certainly feel the effects of increased competition with home rentals and failed condo conversions. However, we have nearly doubled our size in the past two years. Owners are calling us to ensure their investments are getting the best care possible. Our team is comprised of dedicated, hungry, and talented people who want the best for the company, and it really comes through during the tough times."


Most recently, the partners of SkySong selected Mark-Taylor to manage the 325-unit multifamily project, citing Mark-Taylor's creative approach and solid lease up experience.  In addition, Wood Partners hired Mark-Taylor to manage the new and upcoming Alta Phoenix Lofts in downtown Phoenix, the 8-story "soft-loft" style community just south of the Arizona Center. Trammell Crow hired Mark-Taylor to manage Aldea at Estrella Falls in Goodyear, which opened its doors September 15. One of Mark-Taylor's largest clients, The Premier Residential Group of San Diego, brought Mark-Taylor on board to manage Borrego and Azul, two sister properties in Gilbert. The results enjoyed since the June 1 takeover have been remarkable. The community was at 50%, and Mark-Taylor has increased Azul to 84% in just 4 months.


Overall,  the market currently sits at an average of 12% vacant in Q2.  Mark-Taylor's portfolio averaged just 9% vacancy rate, or 3 percentage points above the market.


"This is no bubble," Phillips says. "This is just old-fashioned growth by paying attention to basics while keeping our creative edge: solid  customer service to renters, watching hard costs, and delivering on promises to our clients." The creativity comes into play with how we promote our brand. We are always looking for unique ways to position ourselves to garner more attention than our competition."


Mark-Taylor is one of few apartment management companies to "brand" itself through marketing promotions online, onsite, on the radio, through special events and even its own YouTube channel (mark-taylor.tv).  Owners contribute to branded leasing campaigns so every community benefits from a consistent message and offer, paying a fraction of what it would cost to launch a campaign independently. The company's annual Summer of Love campaign brought in 16,813 leads and 1,759 leases in 33 communities. Based on the campaign's budget, owners paid less than $5 per lead and $46 per lease.


Leasing up communities is one of Mark-Taylor's hallmarks. San Portella, a 308-unit community in Tempe and the company's newest build, is leased to 85% since its mid-January opening, which would be considered a strong achievement even in a good economy. In the Tempe submarket, a strong lease up in normal times would be to achieve 90% within one year. But even in the midst of the current economic challenges, San Portella is on target to achieve, if not surpass, this goal by January 2009, showing the business success that Mark-Taylor can achieve, even when the market might suggest otherwise.


Mark-Taylor Residential is an award-winning company that excels in apartment management. Mark-Taylor has developed more than 13,000 apartments in the Southwest and currently manages more than 10,000 apartments in the Phoenix area, providing residents with beautifully appointed apartment homes and a resort-style lifestyle. For more information, visit www.mark-taylor.com