To introduce The Marq to the Milwaukee market, Catalyst promoted a VIP party to be held at the property. The new brand was teased in direct mail invitations, email invitations and reminders, and social media posts, all driving traffic to an RSVP landing page for the event. Of the approximately 250 people who attended the event, 51 signed leases and another 87 leases were pending guarantor paperwork. Within weeks, the property’s prelease rate was 13 percent higher than the same period for the previous year and is set to reach their budgeted occupancy ahead of schedule.
Catalyst, in conjunction with The Marq’s on-site leasing team, has achieved great results for the 2015–2016 school year as ripples from this campaign continue to boost numbers. The property is currently ahead of last year by 23.64%. The effective rental rate increased 3.1%, from $674 for 2014-15 AY to $695 for 2015-16 AY, rising above the $690 pro forma effective rate for 2015-16 AY. Occupancy increased from 80.17% in fall 2014 to 96.36% in fall 2015 for a total gain of 16.2%.