“Local agents will contact me and say, ‘Hey, do you have a three bedroom, a two bedroom, a one bedroom, or a four bedroom?’ And I’ll flip through what we have and tell them. Then they’ll have somebody come in and take a look at it before it’s renovated. They know what our stuff looks like. And then we’ll sign them up and basically get them ready so that when the project’s done, they’re ready to sign a lease and move in. Then we’ll move onto the next project.” The young developer’s efforts have led to more than just increased affordable housing stock. His improvements to the commu- nity have reverberated across social media, leading to chang- ing perceptions of areas peo- ple previously avoided. “A lot of the impact has been made on social media, because people know the Westbrook area as being run down and dirty. And after we’ve finished projects in some of the grittier areas, people come in and say ‘Wow, this does not look the same.’ It’s mind-boggling how paint, flooring, and a little bit of care can change a property and change people’s preconceived notions about an area.” • John Beacham is the CEO and founder of Toorak Capital Partners. Prior to Toorak, he was the founder and president of B2R Finance, the leading mortgage origination company focused on the single-family rental and residential bridge loan markets. Beacham led Deutsche Bank’s single-family rental lending practice where he structured the first- ever securitization of single-family rental properties. In total, he has completed more than $50 billion in transactions and has structured financings which won CMBS or structured finance Deal of the Year awards four times. Beacham graduated from Princeton University magna cum laude with a bachelor’s degree in economics.
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