T2 Launches Property Management Platform
Its portfolio currently includes more than 850 multifamily units.
Image courtesy of Yardi Matrix
Wheaton, Ill.-based private equity real estate investment firm T2 Capital Management has launched a property management company, dubbed Base Living. T2 fully owns the tech-enabled firm.
Its portfolio currently consists of more than 850 multifamily units across three properties, as well as a 1 million-square-foot industrial facility.
The private equity firm plans to expand Base Living’s operations across T2’s portfolio, including student housing. The management company’s headquarters is at 100 N. Main St. in Wheaton, across the street from T2’s office.
Along with the launch, T2 brought Tyler Yates as director of property management. Yates manages Base Living’s team across Illinois, Indiana and Florida. Yates had previously served as vice president of Central Operations and Asset Management at Kairos Living, where he oversaw the national portfolio, comprising more than 5,000 homes, a 125 full-time staff and 350 vendors.
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Base Living utilizes Entrata as its platform, centralizing leasing, communications, payments, maintenance, accounting, renewals and reporting into the same system. The software optimizes prospect engagement, tour scheduling, maintenance coordination and lease renewals.
The AI-property management duo has increasingly become the norm, employed for scale, consistency and performance improvement across assets. HK Multifamily Management CEO Ajay Banga discussed AI’s ability to support a community’s performance through the automatization of repetitive tasks, such as leasing communication, allowing property managers to focus on the overall portfolio’s performance.
T2’s strategies and recent activity
T2’s national collection includes build-to-rent, single-family, mixed-use, industrial, retail and student housing properties mainly coagulated in the midwestern and southeastern regions. The company’s investment opportunities are divided between acquisition, recapitalizations and construction using either their own credit fund or equity strategies, according to its website.
The company’s recent activity includes the expansion of its midwestern portfolio. T2 purchased Village Club of Farmington Hills last year, from City Club Apartments, Yardi Matrix shows. The 240-unit community is in Farmington Hills, Mich., some 23 miles northwest of downtown Detroit, Mich.
