MIAMI, FL– Ventura Pointe Apartments, a luxury apartment community in Pembroke Pines, FL, recently commissioned Miami-based artist Douglas Hoekzema, aka Hoxxoh, to create a mural at its pool  deck.

The artist is known for his circular, vortex-like pieces featuring an array of colors. Hoxxoh has painted commissioned works at the Miami Marine Stadium, Hyde Hollywood Resort, and several sites in Wynwood, to name a few.

Built in 2018, Ventura Pointe was recently acquired by Lloyd Jones LLC, a real estate investment, development, and property management firm based in Brickell, Miami. While Ventura was purchased in nearly brand new condition with Class A amenities already in place, the firm wanted to add a unique touch to the pool deck with a large art piece.
Lloyd Jones believes incorporating local touches into design elements is a distinctive amenity that real estate developers and property management firms can offer residents.

“We strive to connect with the communities we serve, and one incredible way to do that is to support our region’s artists,” said Stuart Keller, SVP of Asset Management for Lloyd Jones LLC. “Hoxxoh was the perfect choice to design the mural—not only for his talent, but because he’s also part of the South Florida community.”
According to the artist, a percentage of the commissioned proceeds will be donated to World Central Kitchen and Hospitality Helping Hands, two nonprofit organizations aimed at serving meals to those impacted by the COVID-19 crisis and keeping restaurant workers employed.

For more information about Ventura Pointe Apartments, visit To learn more about the artist, visit

By executing a value-add strategy, many investors have been able to increase returns on their multifamily investments. Value-add investments generally target assets that have existing cash flow, but also offer the upside potential of increasing that cash flow through repositioning and implementing improvements to the property. As a result, the property can command higher rents, attract quality tenants, increase tenant satisfaction/retention as well as increase operating efficiencies.

According to the Yardi Matrix report, U.S. multifamily rents grew 3.2% year-over-year from May 2018 to May 2019. Multifamily operators typically increase rents, but in addition they can achieve an even higher rent premium in assets that have room for improvements.

In multifamily real estate, there are many ways an operator can reposition the property and create value. These includes adding value in the form of interior renovations, exterior improvements to the property, and amenities to achieve higher marketability and resident comfort. Strategic improvements can turn an under-performing asset into a high-performing asset. Such enhancements include interior unit renovations with upgraded appliances, cabinets, flooring, lighting and plumbing fixtures, depending upon the market and level of upgrades warranted. Upgraded community amenities often include an expanded fitness center, outdoor entertainment areas , and clubhouse modernization. Once the operator has successfully executed the value-add program, the property should yield a rent premium in addition to the standard rent growth in the market. Successful value-add opportunities offer cash flow throughout the hold period and capital appreciation at sale.

Lloyd Jones’ top three recommendations can be grouped into: interior renovations, curb appeal, and upgraded amenities
1. Interior renovations: Upgrading the units themselves typically involves new cabinetry or appliances and perhaps better flooring. This adds value while aiding in keeping turnover low because these changes directly enhance the quality of life of each resident. At the same time, these energy efficient, maintenance-reducing improvements often decrease the operating expenses of the property.

2. Curb appeal: Not only could improving the landscape of the building please the tenants, but it is likely to catch the attention of potential new residents as well.

3. Upgraded amenities: This can result from enhancing existing amenities such as pools or gyms, or creating new amenities like a dog park or Amazon package locker system. Such changes will offer residents benefits that are typically difficult to access in other types of housing.

Renters often oppose rent hikes. They have many choices in multifamily housing so it is crucial for operators to implement strategies that provide unique or in-demand amenities for which residents are willing to pay premium rents. Without resident satisfaction, there are no fruitful yields for the investment.