As we begin 2026, we’re taking a moment to reflect on the momentum, milestones, and progress that defined 2025 at PLK. Over the past year, our teams delivered strong results—while continuing to invest in the people, systems, and processes that support long-term success.

2025 was a year marked by disciplined execution and meaningful growth. From maintaining high portfolio occupancy and delivering new apartment homes, to completing major construction projects and expanding into new markets, PLK continued to build on a strong foundation. At the same time, we remained focused on consistency, safety, and service—ensuring our communities, residents, and partners experienced the PLK standard every day.

Take a closer look at the key achievements that shaped 2025—organized by the teams and disciplines behind the work.

📊 Operational Excellence

Operations teams focused on maintaining strong occupancy, driving leasing performance, and strengthening execution across the portfolio.

Operations delivered a strong year with 3,799 apartments leased, 2,822 new residents moved in, and 3,794 leases renewed (55.56% renewal ratio). We maintained 93.5% average occupancy and 95.3% average leased across the year, reflecting consistent performance across our communities.

Beyond the numbers, teams strengthened execution through leadership alignment and operational planning, while adopting and effectively applying tools and processes—including Budgets Pro, Bulk Renewals, and our CRM—to support continued improvement. We also improved Valence Docs performance by 4% over the year.

🏗️ Construction & Development

2025 marked a year of strong progress for Construction & Development, with major projects completed and new initiatives underway across the portfolio.

Construction and Development completed Factory 52’s Kenilworth East Building and Remington Lake, and brought our new corporate office to the finish line as we prepare for move-in.

We delivered a record 384 new development apartment homes and kicked off what’s next at Factory 52 with the start of the Factory 52 Townhomes, plus the new Leasing Office and Residential Amenity Building.

We also acquired land for Christopher Apartments (Newport), and began construction planning, and launched a joint-venture partnership with Birge & Held (Norwood).

🛠️ Maintenance Excellence

Maintenance delivered high-volume, high-impact results in 2025—supporting the resident experience through responsive service, strong safety performance, and consistent standards across our communities.

Completed 29,329 work orders (69% within 72 hours), maintained a 94.95% safety compliance score, and delivered 2,564 make-readies.

Through InCheck, teams logged 3,756 unit inspections, including 1,312 move-out inspections, 1,080 clean & check inspections, 601 make-ready checklists, and 220 make-ready inspections, strengthening consistency and documentation across the organization.

We also implemented quarterly RMS inspections (41 completed) to proactively support sites and completed 37 safety compliance inspections.

Beyond the metrics, the team invested in training and engagement throughout the year—supporting ongoing development through internal and partner-led sessions (including Pool School, HVAC/heat training, and winter preparation), along with regular touchpoints such as monthly check-ins with RMS and site teams and four quarterly maintenance huddles. The Maintenance team also launched training video production to expand access to standardized learning across sites.

Operational improvements included standardized color-coded maintenance shops, Safety Centers in maintenance shops to support PPE readiness, onboarding three national vendors to support site operations, and expanding the team with an additional support role. The team also continued updating maintenance policies and procedures, with more enhancements planned ahead.

📕 Training Wins

Training & Systems supported consistent execution in 2025 through onboarding, systems training, and alignment around shared standards.

Strengthened consistency and execution in 2025 through structured onboarding, systems enablement, and cross-team alignment.

The team hosted the 3rd Annual ELEVATE Summit (PLK’s training conference) and the 2nd Annual Interplay Day, focused on maintenance learning and skill assessments.

Across the year, Training & Systems completed 66 90-day check-ins (26 for maintenance new hires and 40 for leasing/office new hires), delivered 15 Maintenance CX/Systems trainings and 11 Leasing CX/Systems trainings (spanning 44 days total), and conducted 33 PM Systems trainings.

The team also created 103 credential sets to support new hires and role transitions, onboarded **two new properties—Lyons Gate and Afton Palms—**into core platforms (along with phases of Remington Lake and Factory 52), digitized the maintenance skill assessment, and conducted two CRM pilots to support continued improvement.

📑 Accounting & Renovations
Day-to-day execution depends on strong back-office support and continuous reinvestment in our communities.

In 2025, Accounting implemented AvidPay and processed 52,000+ invoices, helping keep workflows efficient and payments moving smoothly across the portfolio.

At the same time, Renovations & Special Projects completed just under 400 renovations across 17 renovation sites and delivered 300+ CAPEX projects at 30+ communities, including the Lakefront clubhouse and gym renovation and a new maintenance shop at Mallard Lakes—all supporting long-term asset health and the resident experience.

⭐️ Our Team

Behind every milestone is the team making it happen—2025 was a year of growth, development, and recognition across PLK.

🏆 Recognition

Recognition in 2025 reflected the strength of our teams, leadership, and communities—earning honors across workplace culture, industry excellence, and local impact.