La Solera

www.lasoleraapartments.com

Formerly known as “Onyx Apartments,” La Solera had a negative reputation among residents in the area. Upon acquisition, Nord Group recognized the opportunity to revitalize the property, beginning with a rebrand to “La Solera,” meaning “The Hearth” in Spanish, to better connect with the growing Hispanic community in the market.

La Solera stood out as a compelling value-add investment from the start. At acquisition, only 5% of the units had been renovated by the seller, generating a $200 rent premium over classic units. Nord Group’s transformative approach has since renovated 45% of the units, achieving a strong $190 rent increase per unit. Occupancy rates have improved from 81% to 90%, while rental collections soared from 72% to 98%, reflecting the property’s enhanced appeal and operational improvements.

We have also reimagined shared spaces, upgrading landscaping and recreational areas to create a more welcoming environment. Through strategic lease renewals and targeted upgrades, La Solera has seen significant NOI growth, establishing itself as a thriving, high-performance asset within our portfolio.
rades, La Solera has seen significant NOI growth, establishing itself as a thriving, high-performance asset within our portfolio.