Last year, the company added over 2,100 units to its portfolio, investing over $450 million in joint ventures. Its value-add strategy includes implementing an efficient operating structure, renovating apartments and amenities, and rebranding and repositioning assets. Marquette is also constructing new properties in Illinois and Texas totaling 793 units with an investment of over $250 million, as well as in the planning phase with three more properties – two SFBTR properties and a multi-phased mixed-use property in Nashville and Texas, representing over 1,200 more units.
In addition, the company assumed management of multiple properties located in the Chicago suburbs, adding to its robust portfolio of AUM in the area. The company received more than 20 awards for operational excellence in 2022, a testament to its commitment to delivering high-quality living experiences and strong returns for investors.
Marquette is dedicated to making a difference in the communities in which it operates as well. In 2022, the company raised almost $200,000 from its charity golf outing, benefiting scholarships for children and families, expansion of the Community Life program, and a new food distribution program serving families in need. Employees and residents of Marquette communities also raised more than $57,000 to help Ukrainian refugees find housing and medical care.
For 2023, the company plans to continue its core investment strategies of value-add acquisition and new developments, with a focus on 13 key markets. They also plan to complete targeted recapitalizations of assets and seek out distressed opportunities in response to the influx of non-institutional investors entering the space after the pandemic.
2022 was a year of growth and excellence for the company, solidifying its position as a leading and growing player in the industry.
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