“It has been my pleasure and privilege to work in tandem with Dan Tilton and Tilton Development. Over the last four years Pinnacle has partnered with Tilton Development as the property manager on six new construction projects consisting of nearly 1,000 units. His ability to recognize all components of development from vision to execution is unsurpassed. These award winning developments have been on the leading edge for design resulting in top of the market rents and national record breaking sales prices.
Each luxury development was unique and extraordinary in its own way. The relationship began with the development of two failed condominium projects in Arizona, Indigo and Cobalt comprised of 190 total units. The process was particularly challenging on this portfolio due to the HOA component. Dan’s meticulous attention to detail and strategic problem solving allowed for a successful execution of the business plan.
Vantage was our next project, which was a highly complicated 110 unit failed condominium project. This infamous, partially constructed, skeleton of a building epitomized the Las Vegas recession and failed housing market. After over five years of enduring the elements as a vacant building, Tilton Development was instrumental in its resurrection. Dan’s amazing capability to navigate the complicated political process coupled with his ability to manage all the shareholders involved, resulted in the largest real estate successes of this cycle, which was nationally recognized. This Las Vegas asset eventually traded with a record sales price of over $354,000 per unit. The impact of this transaction has had a positive ripple effect on the Las Vegas market as whole by setting a new standard for Luxury Apartment Living.
Fountainhead, 322 multi-family units in Tempe, Arizona, was a labor of love for Dan from the moment he procured the site. It was incredible to have the opportunity to experience a ground up vision with Dan. It became apparent Dan places 50% of his time to ensure the last 2% is right. His foresight to include property management from the beginning positioned Pinnacle to support the partnership in successfully leasing up ahead of schedule. His design concept of creating a well planned community with podium product feel, resulted in rents comparable to mid-rise assets in the submarket.
333 Proxy was our next experience with Dan and the process was seamless. Our team was in synch from concept to sale. This asset was the first of its kind in Downtown Phoenix and was ahead of the current downtown development boom. Dan almost seems to have a crystal ball in understanding when a market is ready for growth. This asset traded after only a few months of lease up. Another Tilton success story.
The future with Pinnacle and Tilton Development is bright with various projects in the pipeline. Dan’s expertise, integrity, and willingness to collaborate with Pinnacle combined with his extraordinary ability to execute has yielded best in class results every time!”