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RIDGE VIEW COMMONS UPDATE <br />JUNE 2019 <br />• Apartment Turnover <br />Apartment turnovers continue at a steady pace through the first six <br />months of 2019. In June, we had four residents move -out, and three <br />new residents move -in. <br />• Inspections <br />The re -syndication team (architect/engineer/contractor/consultant) has <br />begun the process of evaluating the property for rehabilitation. They <br />started with the exterior. They performed demolition of the stucco on <br />exterior areas around windows, patios and doors, checking for dry rot. <br />They also checked the beam supports for each balcony to find out if <br />replacement was needed. They found the exterior areas of the <br />building had minimal dry rot, and the overall condition of the beams <br />supporting the balconies were solid. <br />The next step has us taking the consultant into each unit to evaluate <br />the overall condition of the apartments. Each unit is well documented <br />with pictures of appliances, cabinets, doors, showers, carpets, and <br />vinyl. This process will be completed over the next several weeks. It <br />will help determine the priorities for upgrades to the property within <br />budgeted constraints. <br />