An Opportunity Under Construction

The Quin
Plainfield, NJ

14 months

Holding Period

$1.5 Mil (38%)

Increased GOI



212 Units



A two-building Class A property under construction, the Quin held great promise — but construction had stalled due to lack of funds…and poor general management.


Despite its striking aesthetics, the property was experiencing severe lease-up challenges, and hovered at 50% occupancy. Longtime Premier contacts made the firm aware of the off-market opportunity, and Premier set out to do due diligence.

Thorough analysis of the area and market suggested immense potential: with a distinct “affordable luxury” vibe, the desirable location between two major train stations provided strong  merit to justify a quick lease-up through a Premier’s laser-focused stabilization plan.


At acquisition, the first of The Quin’s two buildings was completed and occupied at 50%, while the second building was just nearing completion.

Complete Repositioning

Upon acquisition — which required creative, relationship-driven financing — Premier promptly took over The Quin’s management and administration, introducing tight protocol and procedures, along with a much-needed restructure of the parking areas.

The goal was clear: secure a high-quality clientele and reach full occupancy in 9 months. To that end, Premier developed a strategic branding and advertising campaign and extensively promoted the properties (under the previous management, The Quin hadn’t been marketed at all). A dedicated leasing team was also assembled to optimize results and help fill the units faster.


Following a total management and operational overhaul  — as well as extensive marketing efforts — the lease-up was rapid: occupancy rose to over 90% in a matter of months. Scrupulous management ensured efficient, cost-effective operations, and consistently enforced rent protocols increased collections to over 99%.


Now 97% occupied, The Quin was sold within 16 months of acquisition at a 68% IRR.

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