San Francisco, CA (May 2023) – As of May 2023, Polaris and our investors have collectively raised $48,140 for the college scholarship program! (Polaris matched every dollar donated)!
We are putting in significant effort to raise awareness about the scholarship and encourage all students to submit their applications. Through an extensive advertising campaign providing promotional materials in both English and Spanish, we want to ensure that all parents are also aware of the scholarship program too. Our property managers have and continually communicate scholarship details through email, text messages, in-person conversations and even distributed flyers to our high school students at bus stops to maximize outreach and awareness.
With these initiatives in place, we hope to reach all college-bound students to maximize helping as many students as possible in our communities. The deadline for essay submissions is June 30th, 2023. Our panel of PREP judges will review + score submissions and final results will be announced on July 31st, 2023. We will hold a ceremony in August at one of our properties in Texas.
PREP specializes in multifamily investment in the continental United States, with a senior management team averaging 26 years of commercial real estate experience. PREP’s portfolio consists of 4,627 units under ownership and management with an estimated portfolio value of $680MM. As of 12/31/22 PREP’s average net return to our investors on the last 16 properties sold was 132%, or 29% annualized with an average investment period of 4.4 years. The company remains deeply committed to making a positive impact in the communities it serves while seeking individual properties or portfolios of 200 to 1,000 units in its targeted areas.