May 20, 2024

Welcome to People and Properties, the Cohen-Esrey newsletter where we celebrate the successes of our team members and keep you informed about what is happening in the Cohen-Esrey world. If you have something you would like to share or an achievement that you would like to celebrate, please send it to Lee Harris at lharris@cohenesrey.com. If you are on a property, please print and distribute this newsletter to each member of your property team. You can also find People and Properties on KnowledgeNet. Click here to view previous editions.

Talk About Amenities!

People who are looking for a great apartment community in the Kansas City suburb of Olathe, KS – and want a wide range of amenities – can stop looking when they arrive at Jefferson on the Lake. This property has a large swimming pool with an expansive sundeck, community clubhouse, fitness center, cyber café with free gourmet coffee, professional business center, large dog park, stocked fishing lake, children’s playground, bicycle storage and spacious courtyards with grilling stations. Unit interiors have front loading washers and dryers (alternatively, some units have stackable washers/dryers), private balconies and patios, oversized walk-in closets, and disability access. This 352-unit market-rate community offers one-bedroom apartments from 471 to 660 square feet and rent for $783 to $1,108 per month. Two-bedroom units are 690 to 804 square feet and rent for $1,042 to $1,242 per month.

Olathe (pronounced oh-LAY-tha) is the county seat of Johnson County, KS, and is the fourth-most populous city in both the Kansas City metro and the state of Kansas with a 2020 population of 141,290. Olathe was incorporated in 1857, and while not the first city in Johnson County, its rapid growth led to it being named the county seat in October 1859. Rising tensions across the nation over the issue of slavery led to numerous clashes between abolitionist settlers and neighboring slave state Missouri. These clashes further escalated and become a part of the greater conflict known as Bleeding Kansas. With the admission of Kansas into the Union as a free state in 1861, violence began to dissipate. Peace continued to elude Olathe for many years to come, however. In 1861, Union officials and local military forces created a military post in the city. It housed one company of troops along with the local militia.

Olathe's commercial and industrial parks are home to many companies, including Honeywell, Husqvarna, ALDI, Garmin, Grundfos, and Farmers Insurance Group. Although Farmers Insurance is based in Los Angeles, California, Olathe has more of its employees than any other city in the United States. The Federal Aviation Administration, an agency of the United States Department of Transportation, administers and maintains an air traffic-control center in Olathe, designated Kansas City Center or ZKC. Kansas City Center is one of 20 regional traffic-control centers that cover United States airspace. Johnson County maintains an airport in Olathe, Johnson County Executive Airport, which is located on about 500 acres of land with a 5,000-foot runway, parallel taxiways, and a federal contract air traffic-control tower. The airport is the second-busiest in the state.

Cohen-Esrey has a long history of involvement with Jefferson on the Lake. It first managed the property in the early 1990s after it was built as affordable housing. Later, Cohen-Esrey Communities (CEC) managed the property for an institutional investor for several years after it was converted to market-rate. And a partnership sponsored by Cohen-Esrey Apartment Investors (CEAI) acquired the asset in August 2018.

Whitney Marshall (2023) is the Property Manager and Amanda Zepeda (2023), is the Regional Manager, Megan Lierz (2022), is the Property Accountant and Lana Frank (2022), is the Accounting Assistant.

We welcome the following new team members to Cohen-Esrey and the Nexus 5 Group.

Mary Canion – Preserve at Westover Hills, San Antonio, TX – Assistant Property Manager
Anahi Sainz – Carlyle, Shawnee, KS – Leasing Agent
Andre Smith – Carlyle, Shawnee, KS – Maintenance Technician
Ronald Coram – Carlyle, Shawnee, KS – Maintenance Technician
Katena Taylor – Big Chair Lofts, Thomasville, NC – Assistant Property Manager
Robrelle Murray – Bastion Community Phase I, New Orleans, LA – Property Manager
Alicia Wallingford – Andover Park, Kansas City, MO – Leasing Agent
Kaitlyne Hite – Jefferson on the Lake, Olathe, KS – Leasing Agent
Bryn Perrins – Corporate Office – Marketing Intern
Walter Painter – Idlewild Estates – Poplar Bluff, MO – Maintenance Technician
April Hinrichs – Lincoln Heights Townhomes, Hastings, NE – Property Manager
Samantha Alexander – Lincoln Heights Townhomes, Hastings, NE – Assistant Property Manager
Jesse Nuss – Lincoln Heights Townhomes, Hastings, NE – Maintenance Technician
Gage Williamson – Lincoln Heights Townhomes, Hastings, NE – Maintenance Technician
Yasmeen Gasper – Loma Vista Lofts, San Antonio, TX – Property Manager
Terry Williams – Oaks at Rosehill, Texarkana, TX – Maintenance Technician
Monyelle Starr – Perry 81, Overland Park, KS – Assistant Property Manager
Brenda Inman – Trails at Bartram Park, Jacksonville, FL – Property Manager
Victor Brooken – Trails at Bartram Park, Jacksonville, FL – Lead Maintenance Technician
Kim Bell – Trails at Bartram Park, Jacksonville, FL – Leasing Agent
Thomas Gess – Trails at Bartram Park, Jacksonville, FL – Maintenance Technician
Brad Harris – Trails at Bartram Park, Jacksonville, FL – Maintenance Technician
Catherine Brickell – Owensboro Historic – Property Manager
Billy Shelor – Nexus 5 Group – Field Technician – Level 2
Tyler Schutt – Hawthorne Hills, Cedar Rapids, IA – Maintenance Technician
Alexis Alicia-Madera – Loretto at Creekside, Live Oak, TX – Groundskeeper
Teresa Brown – Tall Oaks, Conyers, GA – Property Manager
Sara Boyd – Tall Oaks, Conyers, GA – Assistant Property Manager
Kylin Crittenden – Geneva Towers, Cedar Rapids, IA – Maintenance Technician
Ariana Arellanes – Big Chair Lofts, Thomasville, NC – Property Manager

Meet the Pam Apartments Team

Meet the Pam Apartments team. (L to R) Erin Hamel (2023), Property Manager, Zephyr Ellis (2024), Maintenance Technician, Jacoby Seabourn (2024), Maintenance Technician, and Torri Scott (2023), Resident Services Assistant. The Pam Apartments is a 96-unit affordable community in Pampa, TX, and is managed by Cohen-Esrey Communities (CEC) for a third-party client.

Transformational Construction- 9 Projects

Construction continues at NINE Cohen-Esrey Development Group (CEDG) future communities!

First floor framing has begun at The Launchpad in Colorado Springs, CO.

Siding installation continues at Panorama Heights in Colorado Springs, CO.

The Certificate of Occupancy should be received in early June at the Trails at Lehow in Englewood, CO.

Exterior painting progresses at the Loma Vista Lofts in San Antonio, TX.

Interior work is moving along nicely at Loma Vista Lofts in San Antonio, TX.

There’s finally a lot of activity on the construction site at the Lofts at Creekview in San Antonio, TX.

The contractor has been pouring exterior grade beams at Lewis Lofts in Mankato, MN.

Demolition is still in progress at Astoria Park in Amarillo, TX.

Sitework has begun at the Heritage at Cottonwood Creek in San Marcos, TX

The construction fence is being installed at Overlook 157 in Asheville, NC.

Congratulations, Amanda!

Congratulations to Amanda Zepeda on her promotion from Area Manager to Regional Manager for the Cohen-Esrey Communities (CEC) Market-Rate management platform! Amanda began her career in property management in 2015 as a leasing professional for an affordable property in Denver. She quickly became proficient in completing recertifications and helped maintain a high occupancy rate. This led to her being promoted to Assistant Property Manager in 2016.

In 2023, she joined Cohen-Esrey as the Property Manager at Jefferson on the Lake in the Kansas City suburb of Olathe, KS, where she increased occupancy, decreased delinquency, and exceeded income targets. She also assisted with other properties, when needed, and has been mentoring other team members as well. Her proven results led her to a promotion to Area Manager where she was responsible for three assets in the Kansas Area. And just recently she became a CPM® Candidate through the Institute of Real Estate Management. In her new role as a Regional Manager, she will work with properties in the Kansas City area, Lawton, OK, and Jacksonville, FL.

Amanda attended Metropolitan State University in Denver, CO, where she earned a bachelor’s in business administration with a major in business management and a minor in microbiology. As a wife and a mother of three wonderful children, her family is her driving force to strive for excellence. In her free time, she finds joy in planting, gardening, and engaging in home improvement projects.

Cohen-Esrey Assumes Management Assignment in Jacksonville

Cohen-Esrey Communities (CEC) has assumed management of the 323-unit Trails at Bartram Park in Jacksonville, FL. The property was acquired by a Cohen-Esrey Apartment Investors (CEAI) sponsored partnership in 2023, however management wasn’t assumed until May 1, 2024. One and two-bedroom apartments rent from $1,435 to $2,225 per month. The property has a resort-style swimming pool with jacuzzi and grilling station, community clubhouse, computer lounge, car care center, package locker system, playground, dog park, pet grooming stations, hammocks, private garages, and close access to walking trails. Unit interiors feature black appliances, Smart Home accessories, hardwood flooring, ceiling fans, granite and quartz countertops, tiled backsplashes, full-size in-unit washer/dryer, and modern fixtures.

We welcome Brenda Inman, Property Manager, and the rest of the on-site team to CEC. Amanda Zepeda (2023), is the Regional Manager. That’s her in the photo below.

Our Customer Fulfillment Leaders Are Saying . . .

We asked the Property Managers at the three properties atop our NPS Leaderboards how they deliver such world-class Customer Fulfillment. Here is what they said.

Cynthia Cobbins (2016), Property Manager – Justin Place – +85.71 NPS

I have been successful at delivering Customer Fulfillment by taking ownership and leading by example. Live by your Core Values in your actions and decisions. Use them as guiding principles. My Core Value of Customer Fulfillment is more than words – it is a driving force behind everything I do at Justin Place.

Alanna Johnson (2020), Property Manager – Rankin Mills – +96.55 NPS

To me, Customer Fulfillment = Loyalty. Residents want to be heard. Whether it be a quick conversation about the weather or a discussion about an issue in their apartment, they want us to listen! I always make it a point to follow up to make sure any issues were solved, or to communicate on any updates. I know if I keep a good relationship with my residents, and exceed their expectations, they will continue to stay and love our community!

Trisha Parsons (2018), Property Manager – The Boulevard – +96.43 NPS

I always do my best to make sure that no matter what my mood is I keep a smile on my face when I’m in the office, on the phone, and out on the property. And no matter how busy I am, I always stop what I’m doing to assist an applicant or resident. There are times when I have to put myself into different roles such as mediator, confidant, taxi driver, etc. And I even watch out for our residents’ children . . . making sure they get off the bus safely, and occasionally taking “Little Ones” home to their parent. Or calling their parent(s) if no one is there to pick them up. I try to make sure that I make myself available to help others in any way that I can because what they think and feel matters to me.

The Revenue Growth Champions!

By Michele Rollo-Burns (2018), Director of Revenue

Each month we recognize communities that have realized stellar year-over-year (YOY) revenue growth. For the month of April 2024, here are the standouts with growth of 5% or more. Congratulations to each team for the progress made! Thirteen properties are on the list this month – two more than in March!

Cohen-Esrey Welcomes Paige, Alexis, and Alysia!

Paige Wright has joined the Accounting Team as a Property Accounting Assistant. She is nearly finished with her Associates of Applied Science with a specialization in accounting. In the fall of 2024, she will be attending William Jewell College to finish her BA in Applied Science with a specialization in accounting. Outside of work, Paige likes to shop, go fishing, and dance.

Welcome to Cohen-Esrey, Paige We’re glad you chose to join to our team!

Alexis Cruz has joined the HR Team as a Human Resources Coordinator. Alexis comes to us having graduated with a bachelor of science in Psychology from the University of Missouri in 2023. Before coming to Cohen-Esrey, she worked as a Visual Assistant Store Manager at Altar’d State which improved her customer service and leadership skills. Her interest in HR stems from her passion of helping, teaching, and supporting others. Outside of work, she enjoys baking, crafting, and hiking.

We are excited to have Alexis on board and look forward to her contributions in making our HR and Cohen-Esrey teams even better!

Alysia Hayes has joined the Accounting Team as an Accounts Payable Specialist. Prior to joining our team, she gained valuable experience working in property management both as a Leasing Agent and Assistant Property Manager. There’s no question that she knows the business! Outside of work, Alysia enjoys spending time with her daughter.

Please join us in welcoming Alysia to Cohen-Esrey. We look forward to the efforts she will make to generate success for our team!

Welcome Back Zee!

An old friend has rejoined Cohen-Esrey after a several-year hiatus. Cohen-Esrey Communities (CEC) is thrilled to announce that Zee Drummer is the company’s newest market-rate Regional Manager. Zee was the Property Manager at the 350-unit Sandtown Vista in Atlanta, GA, during the time that it was owned by a Cohen-Esrey Apartment Investors (CEAI) partnership. The property was highly successful, and we reconnected with Zee recently and are pleased that she accepted the RM position.

Zee has over two decades of experience in the apartment industry. She has extensive background in acquisitions, due diligence, feasibility, and stabilization of existing and new lease-ups. She has demonstrated proficiency in budget planning/forecasting and demonstrated how to create real value in her role at Sandtown Vista.

A graduate of Seton Hall University, she received the university’s most prestigious leadership award for her commitment to excellence. Holding several industry designations, she is committed to continuing her education to provide the high-level standards our clients deserve.

Zee will be overseeing operations at Hamptons at East Cobb (Marietta, GA), Tall Oaks (Conyers, GA), the Park at Forest Hill (Memphis, TN), Lakes at North Port (North Port, FL), and Champion at Bluegrass (Lexington, KY).

It’s great to have you back at Cohen-Esrey, Zee!

The Heritage at Cottonwood Creek Partnership Has Closed!

Congratulations to the Cohen-Esrey Development Group (CEDG) on its fourth partnership closing in a matter of weeks! The Heritage at Cottonwood Creek will be 233-units of new construction in San Marcos, TX. The property is being developed under the Texas Public Facilities Corporation (PFC) program. This program provides a 100% property tax abatement in exchange for a partnership with a public entity which in this case is the Texas Essential Housing Public Facility Corporation. Heritage at Cottonwood Creek will contain a mixture of market-rate and affordable workforce housing. One-bedroom units will range from 607 to 776 square feet and rent from $1,350 to $1,425 per month. Two-bedroom units will be 984 square feet and rent for $1,590 to $1,675 per month. Three-bedroom units will be 1,224 square feet and rent for $1,945 to $2,050 per month. Community features will include a resort-style swimming pool, playground, barbeque grill area, dog park, gazebo, fire pit, sport courts, electric vehicle charging stations, storage units, carports, Amazon package delivery room, and a fully-equipped clubhouse with lounge, kitchen, fitness center, and business center. Unit interiors will be appointed with walk-in showers, washer/dryer hookups, private patios and balconies, designer stone countertops, and desiner kitchens with built-in microwave ovens.

The project is expected to cost $56.7 million and construction has already begun. Completion is slated for late third quarter of 2025. Pavilion Construction is the general contractor and Construction Technologies (CT) is the construction manager. Bank of America is an equity investor along with CEAI Heritage Investors and CEAI Fund 25 – both Cohen-Esrey sponsored partnerships. Merchants Capital is the permanent lender using a Freddie Mac loan product, and Stearns Bank is the construction lender. Cohen-Esrey Capital Partners (CECP) was instrumental in arranging the debt and equity funding.

San Marcos is a city and the county seat of Hays County, TX. It’s considered to be part of the Greater Austin Metropolitan Area and is on the I-35 corridor between Austin and San Antonio. The 2010 population was 44,894, and according to the 2020 census, the population exploded to 67,553. It is home to Texas State University with an enrollment of 34,225 (not included in the population totals). Amazon is the largest employer with 5,000 employees; Texas State University has 3,730 employees; two large outlet malls employ another 3,100 people; and supermarket chain H-E-B has 750 employees.

As is usually the case with complicated closings, many team members were involved. Jack Traeger (2023) is the Development Director who worked on this project for three years! Lauren Cano (2021), Development Manager, juggled this partnership closing at the same time as Astoria Park. Stan Waterhouse (2022), Senior Development Director, assisted with the local politics and Phil Melton (2022), Managing Director of Cohen-Esrey Capital Partners (CECP), was instrumental in securing the financing and bringing the required equity into the deal. Tim Minson (2019), Vice-President Design and Construction worked tirelessly to develop the design with the architect and negotiate the construction costs with the general contractor. Other team members with significant roles included Todd Sears (2023), Vice-President of Development, Becky Trost (2006), Accountant, Susan Belisle (2019), Development and Construction Administrator, and Lorraine Robles (2023), Development Manager. Jon Atlas (2015), Managing Director, supported all team members in pushing this project across the finish line.

Way to Go, Susie!

Congratulations to Susie Demiter (2017), has been promoted to Nexus 5 Accountant for the Nexus 5 Group! She began as a Project Coordinator and then became an Accounting Assistant. Susie's dedication to the Nexus 5 "Serve Well" philosophy truly shines. During the recent Accounting Manager vacancy, she stepped up and seamlessly transitioned into many of those responsibilities. In fact, she and her team have been improving on those tasks, ensuring a smooth operation. This is a testament to her hard work and commitment to the team's success.

Susie's deep knowledge of Acumatica and our N5 systems is invaluable. She consistently goes the extra mile, often taking the initiative to train and support her colleagues. With over seven years at Nexus 5, Susie has gained a comprehensive understanding of the company, having held various positions throughout her tenure. This broad experience makes her a perfect fit for this new role.

Her dedication has created significant value for both herself and the company. This promotion is a well-deserved recognition of her hard work and talent. In her new role, Susie will report to Eric Kirk (2011), Corporate Accounting Manager, with a dotted line to Tom Cowan (2012), Nexus 5 Director of Operations.

Susie is genuinely excited to grow and learn more about accounting. She has always processed data within accounting but now she’s going to use her skills to see how the inputs of others culminate into the finished product of a financial statement. Everyone at Cohen-Esrey and Nexus 5 is excited to see her take this next step.

Way to go, Susie!

Another Empowerment Story

Here is an Empowerment Story from a resident, DelShae Stuart, who lives at Justin Place in Kansas City, MO. Thanks to Cynthia Cobbins (2016), Property Manager, for arranging to have DelShae tell her story.

Living in Justin Place has helped me envision, create, and live a more authentic, fulfilling, and enjoyable life. My girls and I lived in Justin Place for the first time for 2-1/2 years starting in 2019. We had zero issues while there from the residents and the office in general. Unfortunately, we moved out because my girls’ school had closed, and I had recently changed my career path. We were gone for one year and when things shifted back to a better place for us, I reached out to Ms. Cynthia to see if we were eligible to move back there because the new school in that neighborhood approved my girls to start there in the fall. Ms. Cynthia went above and beyond to make sure that we were able to be approved. She made this process so comfortable, easy, and smooth, and within a month we were moving back into our home. Living in Justin Place has helped me both mentally and financially and they are always looking out for and over me and my girls. We truly just want to say thank you for all your hard work and dedication to us and the community. Thank you for always making us feel safe and welcome!

Fun Photo

This is one of the coolest staircases you’ll ever see. It’s in the Gold Dust Historic Residences in Fredonia, KS. Built in 1885 as the Gold Dust Hotel, this historic property was converted into affordable housing by the Cohen-Esrey Development Group (CEDG). And as an aside, the property has achieved 100% occupancy for the first time in years.

NPS Leaderboards

The three NPS Leaderboards have been updated as of May 17, 2024, and the leaders remain the same from April. In the 50-Units or Less category Rankin Mills (Boonville, MO) holds the lead with the highest score of +96.67. In the Properties 51 to 120-Units category, Justin Place (Kansas City, MO) is entrenched in first place with an NPS of +85.19. And in the Properties of More than 120-Units category, The Boulevard (Springfield, IL), continues its years-long first place standing with an NPS of +96.23. There are 23 properties on Leaderboards – one less than in April, and there are now only two properties on Leaderboards with an NPS of +90 or higher. They include Rankin Mills and The Boulevard. The overall NPS has dropped to +17 from +22 a month ago, and the Nexus 5 Group continues to hold steady at +88. It sounds like a broken record, but several large market-rate properties are failing to deliver Customer Fulfillment and thus the reason for the continued decline in our NPS.