Overview
Kittle Property Group (KPG) has partnered with ION Water since 2019, with ION’s End-to-End Water Management System currently deployed across 12.5K units in 98 properties.
Leading up to a disposition event at Bradford Gwinnett Apartments and Townhomes, KPG needed to ensure maximum value via optimal NOI.
KPG’s Key Challenges at Bradford Gwinnett Apartments and Townhomes
- The property was not using ION’s End-to-End Water Management System, resulting in water consumption double that of ION-managed properties
- The high cost of significant water waste negatively impacted property valuation
Solution
- KPG implemented ION’s End-to-End Water Management System leading up to property sale
- ION’s system enabled KPG to reduce water consumption which reduced associated utility expense by more than 50%
- Despite only two months of savings data, the buyer and broker accepted an annualized projection of the reduced costs
Results
- Substantially improved NOI
- $2.8M increase in property value and final sales price
“We had two months of water and sewer recapture on financial statements using ION’s platform. Because the buyer saw that water was managed so professionally, ION had a substantial impact on sales price.”
Robyn Eaton, Senior Vice President, Kittle Property Group
