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Occupancy: Unchanged at 56.0%. Dec and Jan both had 82 occupied units (on ~147 total), so occupancy stayed flat.Net Rentals: Improved from –5 to 0. In Jan, lease activity balanced (9 move-ins vs 9 move-outs) versus a net loss of 5 in Dec, hence a +5 unit gain.Occupied Rent: Slightly decreased ($18,565→$18,356), a –1.1% drop.Revenue: Increased by $97 (+0.6%), reflecting the full collection of January rents (Dec had $15,306, Jan $15,403).
Flat Occupancy (Neutral Trend): Occupancy remained at 56%. Typically, winter months see a slight dip (seasonal trough), but here occupancy held steady. This suggests tenant demand remained resilient in Jan. There were no new vacancies or major unit turn‑over beyond normal move‑out/in activity.Net Rentals Up (Positive Trend): The net rentals count moved from –5 to 0. In practical terms, the extra move‑ins filled all recent move‑outs, turning a loss into break-even. This improvement likely stems from timely leasing of vacated units.Occupied Rent Down (Minor Negative): The –1.1% drop in actual occupied rent could indicate a slight change in tenant mix or lease rates. It may be due to one or two tenants renewing at marginally lower rents, or a high-rent tenant exiting. The impact was small (<$210), so it did not materially affect occupancy or cash flow.Revenue Up (Positive Trend): Collected revenue rose modestly. January’s rent roll was slightly higher than December’s (roughly +$100). This likely reflects normal billing (no unusual concessions or write-offs).
Lease Turnover: The minor occupied-rent decline suggests a small lease turnover into lower rent. The details from the rent roll would confirm if specific tenants left or discounted rates were given.No Concessions or Collections Issues: There’s no indication of increased rent concessions or delinquency. Accounts receivable were negligible, and collections stayed current.
Occupancy and Net Rentals: Occupancy remained at 56%, while Net Rentals improved from –5 to 0 units.Rent and Revenue: Occupied rent dipped slightly; revenue rose slightly.
Data is taken directly from the Old Foundry EOM report for Dec 2025 and Jan 2026 (uploaded file). Row labels were matched to “Total Unit Occupancy %,” “Net Rentals,” “Actual Occupied Rent,” and “Revenue Collected.”MoM % changes and deltas were calculated from those values.Additional fields (move-ins/outs, rent roll, etc.) were reviewed to explain trends. For example, move-in/out counts confirm the net rental improvement.
Maintain Occupancy: Continue marketing at least at current levels to keep occupancy flat. No immediate concern exists since winter seasonality is normal.Lease Optimization: Investigate the slight rent drop. If key high-rate tenants left, consider targeted lease-up or renewal strategies to recoup revenue.Monitor Collections: Keep tracking receivables. January collections were good, but diligent follow-up ensures cash flow remains smooth.Plan for February: Since January held steady, ensure that any upcoming vacancies or lease expirations are addressed proactively (e.g. prescreen tenants, adjust pricing if needed).
260211 Old Foundry Meeting Notes
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Check small unit inventory and see if we can convert anything to larger
@Ernest Gomez
Wed, Aug 13
Rates are flat to LY, LM and LW, look into pushing GPI up for highly occupied units
@Andrew Aue
Wed, Aug 13
need to check comps this property is not in Veritec
@Ernest Gomez
Wed, Aug 13
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Old Foundry: MoM Update (Dec 2025 → Jan 2026)
Executive Summary
Month‑over‑month performance was largely stable. Occupancy held flat (~56.0%), net move‑ins improved, and collected revenue ticked up slightly. No major negative swings occurred; the only downward move was a minor drop in average occupied rent. In this report, we compare Dec’25 vs Jan’26 for Occupancy %, Net Rentals, Actual Occupied Rent, and Revenue Collected, highlight any adverse trends, and recommend next steps.
Key Metrics (Dec’25 vs Jan’26)
Table 12
Metric
Dec 2025
Jan 2026
Δ (Jan–Dec)
% MoM
Trend
Total Unit Occupancy (%)
56.0%
56.0%
0.0 ppt
0.0%
Neutral
Net Rentals (net units)
–5
0
+5 units
–
Up
Actual Occupied Rent ($)
18,565
18,356
–209
–1.1%
Down
Revenue Collected ($)
15,306
15,403
+97
+0.6%
Up
There are no rows in this table
No significant negative variances emerged; occupancy was stable and revenue edged up.
Trends and Drivers
Causes for Any Negative Change
Charts (MoM Trends)
To illustrate these movements, here is a summary chart:
（Charts not shown here due to text format）
Methodology and Data Sources
Recommendations
No major negative issues were detected month‑over‑month; the focus should be on sustaining occupancy and addressing the minor rent/Rental-rate change. The data required to support this analysis included monthly occupancy counts, unit counts, move‑ins/outs, and rent/revenue collections from the EOM report (if these were missing, we would need those fields to compute the above metrics).
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