CLASSIFICATIONS

CLASS A

Multifamily

Generally, product built within the last 10 years
Generally, product built within the last 10 years
High-rise product in select Central Business District may be over 20 years old
Commands rents within the range of Class “A” rents in the submarket
Well merchandised with landscaping, attractive rental office and/or club building
High-end exterior and interior amenities as dictated by other Class “A” products in the market
High quality construction with highest quality materials

CLASS B

Multifamily

Generally, product built within the last 20 years
Exterior and interior amenity package is dated and less than what is offered by properties in the high end of the market
Good quality construction with little deferred maintenance
Commands rents within the range of Class “B” rents in the submarket

CLASS C

Multifamily

Generally, product built within the last 30 years
Limited, dated exterior and interior amenity package
Improvements show some age and deferred maintenance
Commands rents below Class “B” rents in submarket
Majority of appliances are “original”

CLASS D

Multifamily

Marginal construction quality and condition
No amenity package offered
Shorter remaining economic lives for the system components
Generally, product over 30 years old, worn properties, operationally more transient, situated in fringe or mediocre locations
Lower side of the market unit rent range, coupled with intensive use of the property (turnover and density of use) combine to constrain budget for operations