Subjects: TNM, CXP
Tripalink, Tech-driven Residential Property Operator, Expands its Market in Seattle with the Acquisition of Keystone Properties NW
SEATTLE, Sept. 9, 2021 /PRNewswire/ -- Tripalink, a tech-driven residential property operator, acquired Keystone Properties NW in Seattle, including their 14 properties, totaling 628 units. Following the acquisition, Tripalink now manages about 1,100 units in the Greater Seattle Area and operates over 6,000 beds in the United States with 8,000 additional beds waiting to be signed by the end of this year.
As a fast-growing residential property operator, Tripalink focuses on technology and data to deliver a digital and enjoyable living experience for its tenants, and to achieve higher gains for its collaborating landlords and developers. The company seeks to do the same with the addition of Keystone Properties NW.
Keystone Properties NW is a leading property management company in Seattle, providing quality housing options for both students and young professionals in the University District Area and Downtown Seattle. The company grows its business 100% by referrals and most of its products are SEDU (Small Efficient Dwelling Units). This type of product and local way of operating aligns with the majority of Tripalink's current portfolio, enabling a smooth acquisition.
By combining Keystone's leasing, marketing, and management operations with Tripalink's automated system, the merger will be able to maintain outstanding services, bring the tenant's experiences online, and boost overall operation efficiency, further sustaining high referral and renewal rates.
Such has been proven to work well before for Tripalink. Rooted in its co-living and student housing background, the company has set the standard for this field and has already forged ahead into the conventional apartment industry. The hope is to include non-student tenants and provide a different housing option for its student tenants as soon as they graduate.
Thus, the acquisition of Keystone Properties NW was an important stepping stone in Tripalink's history, making Seattle the second largest market of Tripalink. Yet, this acquisition is just one part of Tripalink's long-term growth and expansion strategy. According to Tripalink's CEO, Donghao Li, the company is expected to increase its total portfolio to at least 10,000 beds under management by 2022.
This growth is backed by the stable rental income and faster lease-up period Tripalink can bring to landlords and developers. Instead of expanding into dozens of different cities or even countries, which lowers the operation efficiency, Tripalink strategically selects the highest potential cities on the west and east coasts and then grows exponentially in different local neighborhoods. Operating in Los Angeles, Irvine, Seattle, Philadelphia, Pittsburgh, Tucson, Austin, and San Francisco, Tripalink also plans to expand to New York City in the near future.
Tripalink is actively seeking collaboration and partnerships with local and national developers in the above cities. Please visit the website for more information and contact us should you be interested and wish to join Tripalink's upcoming endeavors.
About Tripalink
As a national residential property operator, Tripalink is currently managing about 6,000 bed spaces of co-living properties and centralized modern apartments in Los Angeles, Irvine, Seattle, Philadelphia, Pittsburgh, Tucson, Austin, and San Francisco.
Contact:
Shu Du
[email protected]
(858) 230-1267
Related links:
https://tripalink.com/
SOURCE Tripalink
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