October 24, 2022

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.

How Would You Like to Live in a Brewery?

In 2018, the Cohen-Esrey Development Group (CEDG) completed renovating the Brewery Lofts in Hastings, NE, into 35 affordable apartment units available as workforce housing. The Hastings Brewery Building was constructed in 1907 and the Hastings Bottling Works Building was built in 1910. Both structures are on the National Register of Historic Places. The vintage windows and original exposed brick were preserved during the renovation. Apartments are appointed with wood style flooring, black GE appliances, granite-style countertops, breakfast bars, ceiling fans, in-unit washers and dryers, vaulted ceilings, and modern pendant lighting. One-bedroom units range from 587 to 869 square feet and rent from $572 to $702 per month. Two-bedroom units are 969 to 1,606 square feet and rent from $672 to $838 per month. Three-bedroom units are enormous – ranging from 1,346 to 1,525 square feet and rent for $961 per month. Three-bedroom units have a second-floor loft style configuration for two of the bedrooms and a bathroom.

The Hastings Brewing Company produced a variety of beers during their nine-year run. Ritter Brau, the “Velvet Beer of Perfection;” Prairie Pride Beer and Personal Liberty Brew were marketed as “old-style German beer.” The Personal Liberty name may have been derived from the prohibition movement. While most Nebraska’s breweries closed, The Hastings Brewing Co. reorganized into Hastings Cream and Beverage Company. They produced ice cream and non-alcoholic beverages for a short time, but the venture was not profitable. In 1924, Karl Kauf and George Rinderspacher relocated their meat processing and grocery wholesale operation to the brewery building. They occupied the building for more than 50 years, ultimately closing in 1979.

Located in the southeast part of the state, Hastings is the county seat of Adams County, NE, and has a population of 25,000. It is known as the town where Kool-Aid was invented by Edwin Perkins in 1927 and celebrates that event with the Kool-Aid Days festival every August. Major large employers include Thermo King, WR Reserve, Dutton-Lainson Company, T-L Irrigation, Flowserve Inc., Ag Processing Inc., and many other companies.

Jose Sauceda (2019), is the Property Manager and Rebecca Grimm (2019), is the Regional Manager. Kurt Parrett (2008) is the Senior Property Accountant, Nancy Lewis (2021), is the Accounting Assistant, and Rodney Chmidling (2015), is the Accounts Payable Specialist.

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

Jose Sauceda – Brewery Lofts, Hastings, NE – Property Manager – welcome back Jose!
Preston Pickle – Woodland Village, Leavenworth, KS – Groundskeeper.
Samantha Shipley – Nexus 5 Group – Accounting Assistant.
Whitney Fulwood – Big Chair Lofts, Thomasville, NC – Property Manager.
Andrew Randazzo – Parade Park Homes, Kansas City, MO – Maintenance Technician
Felicia Campbell – Lakes at North Port, North Port, FL – Property Manager.
Jerry Pierce – Idlewild Estates, Poplar Bluff, MO – Maintenance Technician
Dennis Muheljic – Waverly Historic Lofts, Waverly, IA – Property Manager
Jill Kirkman – Jefferson on the Lake, Olathe, KS – Assistant Property Manager.
Marvell Huntley – Sullivan Place, St. Louis, MO – Maintenance Technician
Kaetlyn Bledsoe – Andover Park, Kansas City, MO – Leasing Agent

Meet the Park Edge Team

Meet the Park Edge Team in Lenexa, KS. From L-R – Jason Klepikow (2022), Make-Ready Technician; Hailey Mitchell (2022), Assistant Property Manager; Carla Sanders (2022), Property Manager; Frank Norris (2022), Lead Maintenance Technician; Khadesha Seaman (2022), Leasing Agent, and Andrew Bauer (2022), Maintenance Technician.

Park Edge is a 260-unit market-rate property that is the latest acquisition by Cohen-Esrey Apartment Investors (CEAI).

Another Empowerment Story

By Stephanie Jones (2021), Property Manager – Lofts at Ventura

Stephanie Jones, (2021), is the Property Manager for the Lofts at Ventura in San Antonio, TX. The 200-unit affordable property was developed by the Cohen-Esrey Development Group (CEDG) and recently completed. Here is what Stephanie has to say about her Empowerment:

"Originally from Texas, I began my career in property management in April 2006. A 250-unit Low-Income Housing Tax Credit property was the first assignment I had in San Antonio. It took weeks of training with the San Antonio Apartment Association to fully understand the program and the qualifying guidelines. Working with the LIHTC trainers and my management company I grew quickly and was certified as a Tax Credit Specialist that year.

Over the last 15 years I have worked with mostly LIHTC properties as a Leasing Agent, Assistant Manager and Property Manager. There have been a few luxury properties during those years, but I have always had a special interest in tax credit communities. The program offers affordable housing for a growing community, especially with the current need of families.

I have also taken the Uniform Physical Conditions Standards Inspection training with my teams to meet those physical requirements needed. I believe, as with anything that is successful in business, management support of Empowerment is critical to its success. I have always been committed to supporting an employee Empowered culture.

When I joined Cohen-Esrey in 2021, my hiring manager was Kristina Viera (2017), Deputy Managing Director-Affordable Division. She was and has continued to be my mentor at the Lofts at Ventura. This 200-unit LIHTC property has been a great success with the support I have received from my new Regional Manager, Nicole Watson-Collins (2022), and Tina Shirey (2007), Compliance Manager. They have pulled in resources to give my team the constant training and tools needed to complete our lease-up.

As we close this month, we plan on reaching all our goals for the Lofts at Ventura and looking ahead to its future. As they say, if you fail to plan, you plan to fail.

I would like to thank Cohen-Esrey across all departments. This project has been an amazing experience, and everyone involved has given me and my team endless support."

The iiM Portfolio

Innovation in Motion (iiM) has made 30 investments in 20 early-stage companies. Here are the logos of those 20 companies. More investments are pending.

Have You Had a Life Disruption?

We never want our team members to wrestle alone with their grief. That is why we have partnered with Workplace Healing, Inc., and utilize their Human Recovery Plan™ (HRP) Software. We are committed to creating a workplace culture that cares about each other’s well-being and nurtures professional growth.

We do not always hear about a team member who has a family member that has passed away. This article is a reminder that we have resources available to help you or one of your team members. HRP is an easy to use, interactive technology that provides guidance about what to say and what to do when a team member suffers from a life disruption. With this tool, we can confidently support a grieving team member with purpose, empathy, and community. (To see HRP in action, check out this short video.)

If you’d like to learn more about HRP, and how you can access it to support one of your team members, please contact Marilee Scheid (2019), Director of Learning and Development via email – mscheid@cohenesrey.com.

Thank you for helping us continue to build a thriving, supportive workplace!

A Conversation with Ryan

This is another installment in conversations with members of the Executive Leadership Team. Today we’re talking with Ryan Huffman, (2022), Managing Director for Cohen-Esrey Apartment Investors (CEAI), our apartment acquistion unit, and Chief Operating Officer for Cohen-Esrey, LLC. Ryan also oversees Cohen-Esrey Communities (CEC).

P&P: How long have you been in the real estate industry?

Ryan: I have been in the real estate industry for 20 years. I am grateful that all 20 years have been spent right here at Cohen-Esrey.

P&P: How did you come to Cohen-Esrey?

Ryan: I did an internship with Wells Fargo Financial in Kansas City during my junior year of college and it was definitely not the job for me. My resume found it’s way to Lee Harris (1975), President and CEO through a family connection, and he wanted to meet with me. I came to Kansas City on a Saturday dressed in suit and tie – I remember it was warm out and I definitely was sweating getting ready to meet with him. I went to Lee’s house for an interview. Lee answered the door in a Hawaiian shirt, shorts and house shoes (something I’ll never forget) and for the next two hours we talked in his living room. It was an easy and interesting conversation. Lee schooled me on a career in real estate, something that had never been on my radar. He offered me an internship over my five-week winter break of my senior year in college, which I accepted. Cohen-Esrey thought they had five weeks of work for me to complete which I had finished in two weeks. Then they had to figure out what to do with me for the rest of my internship time. I got exposed to all sides of the business during that time, and when I left, I was told if I wanted a job out of college to give Lee a shout. I did just that and the rest is history.

P&P: Tell us about your family.

Ryan: My blushing bride, Tara, and I have been together for 19 years and happily married for 16 of those years. Many may not know our story. When I started at Cohen-Esrey in 2002, I went into the office of Jeanette Jayne (1996), Executive Vice-President and Managing Director of Cohen-Esrey, one afternoon and there was a photo sitting on her credenza. I casually asked who that was, and she told me that was her daughter Tara. My response was, “This is going to sound really odd, and I don’t know how I know this, but I’m going to marry her someday.” The joke then became that I was her future son-in-law. Tara was at college in St. Louis and got wind of this joke. She ended up emailing me to start up a conversation. Tara and I met for the first time in person in the lobby of Cohen-Esrey’s headquarters at City Center Square in early 2003 and started dating in September of 2003. Three years later we walked down the aisle and said our “I do’s.” Tara is a Disney Vacation Planner and has her own business called Once Upon a Trip Vacation Planning, and she is an avid work out enthusiast since her college degree is in Sports Medicine. We have three fantastic kiddos whom we are very proud of. Ally is 14, Jace is 12 and Jude is 9. Ally is in the 8th grade and is a competitive dancer. She also plays violin in the school orchestra and is in the gifted education program. Jace is in 6th Grade and Jude is in 3rd grade, and both boys are competitive gymnasts. Jude also plays soccer and Jace enjoys hunting and plays the trumpet in the 6th grade band.

P&P: What do you do outside of work?

Ryan: I am largely Uber Dad these days. Between dance and the gym, Tara and I spend most of our free time making sure makeup and hair are done for our dancer and the kids are being shuttled between all of their activities. We often meet ourselves coming and going. We are avid Disney fans and make at least one trip each year to Disney World in Orlando, which we plan pretty meticulously. We have started running Disney World races together which has been fun to train for and experience. Tara and I love to travel and create experiences for our family from the beach to the mountains, just to see the world and all it has to offer. Football season is our favorite sports season as we are season ticket holders for Missouri football, and we are all avid Chiefs fans. I enjoy cooking a great deal and cook all of the meals for our family at home, creating different flavors and trying different dishes is relaxing and fun. I also enjoy reading.

P&P: What is the most unique thing you’ve ever done?

Ryan: I played the trumpet from the 5th grade through college. When I was in Marching Mizzou during my college life, we were invited to march in President Bush’s Inaugural Parade which took place January 20, 2001, in Washington DC. Talk about the experience of a lifetime! All participants had to arrive at the Pentagon in the early morning hours for security clearance and sweeping. We got off our motor coaches and went inside to find so many scanners, which scanned people, instruments and equipment. The motor coaches were taken to the other side of the Pentagon to be swept by the Secret Service. Once that was complete, we were then under military escort to the National Mall where you stood in tents (not heated) waiting for lunch to be over and the parade to begin. Marching down Pennsylvania Avenue knowing the country was watching, and then seeing the President salute our drum majors as we went by was a scene I will not ever forget.

P&P: Tell us about your education and credentials.

Ryan: I graduated Cum Laude from the University of Missouri – Columbia with a Bachelors Degree in Business Administration with emphasis in Finance and Banking. I earned my Certified Property Manager (CPM) designation through the Institute of Real Estate Management (IREM) in 2005, and at the time was the youngest CPM in the country. I was honored to be the CPM of the Year for IREM Kansas City in 2014 and 2018, and am the only CPM to have received that honor twice. I also have a Certified Occupancy Specialist (COS) designation with the National Council for Housing Management (NCHM) and am a licensed real estate salesperson in both Missouri and Kansas.

P&P: How has Cohen-Esrey Empowered You to Thrive?

Ryan: There are so many ways. First, the company has a history of entrepreneurship woven throughout our organization. This has allowed me to pursue my passions. Not only are those passions listened to, but they are encouraged. Lee has been the most influential person for me in pursuing these passions. What I have most admired about Lee after all these years is I can share thoughts with him on where we should go and he always responds with some version of “Let’s try it!” Going from an Assistant Commercial Property Manager, to Property Manager and then to our residential side, running the management company and now our acquisition platform, all happened because we tried it. One specific example I can remember is back in 2005, we had an opening in the Managing Director role at CEC. Lee approached me and asked if I was ready. I was truthful with him and told Lee I didn’t feel ready at that point in my career. Instead of simply passing me by, Lee had a better idea. We would bring in an interim director for two years who would help mentor and teach me, then I would take over. And that’s what happened. I have had the privilege of getting outside coaching and mentoring from Jenne Fromm and Charlotte Shelton which has helped shape my leadership style. Their coaching was invaluable to me throughout the years. Lee, Bob Esrey (1970), Chairman, and then Chris McIntyre (formerly head of Cohen-Esrey’s Commercial Management Division) also actively encouraged me to get my CPM designation, and then actively participate in IREM. I was encouraged to join the local board of directors, became President of the board in 2018, and got involved at the national level by joining committees that worked directly with HUD and Capitol Hill staff to influence our national industry public policy. Today I serve on the International Board of Directors of IREM. I have met so many talented people from around the world through IREM who do what we do, and I have learned from each of them. That would not be possible without the backing of our entire team. Thriving for me is always learning, and that’s what I continue to have the opportunity to do.

It’s Not Too Early to Start Planning Healthy Habits for the Holiday Season

By Jennifer Turner (2018), SHRM-SCP – Director of Human Resources

Are you already dreading the seemingly unavoidable holiday weight gain? While many of us love the delicious food and drinks, the fun parties and celebrations, and the lazy days that this time of the year entails, we don’t necessarily like what these things do to our waistlines. Fortunately, gaining weight doesn’t have to be your reality.

Here are 10 lifestyle tips to help you stay healthy and maintain your weight during the upcoming holiday season:

Choose low-fat options. When preparing foods, use healthy substitutions whenever possible.
Sign up for a holiday race with family and friends. Not only will you get some physical activity, but you’ll also support your community.
Avoid alcohol before meals. It inhibits your ability to make healthy choices. Instead, drink a glass of water to fill you up a bit before eating.
Watch your portion sizes.
Keep second helpings in check. If you must go back for more, only pick one or two of your favorite items.
Go for a walk. Instead of napping after your Thanksgiving feast, take a stroll with the family. You’ll burn calories and spend more quality time with loved ones.
Bring something healthy to the table. At least there will be one better-for-you option.
Make sleep a priority. You need the energy to choose healthy foods and be physically active throughout the holidays.
Don’t skip your regular workouts. Even if it’s only 15-30 minutes, getting your blood pumping for a little while does a world of good.
Find ways to reduce your holiday stress. Stress increases the amount of cortisol in your body, which makes you feel hungrier and promotes fat storage.

A History Lesson – Part 2

In the last issue of People & Properties, we published Part 1 of a history lesson about Cohen-Esrey, its origins, and progress through the years. Here is Part 2, which is a scorecard that offers interesting statistics.

Scorecard

Cumulative multi-family management portfolio – 75,886 units
Cumulative commercial portfolio – office buildings, shopping centers, industrial facilities – 27 million square feet
Multi-family units acquired since 1970 – 17,134 units in 133 properties
Multi-family units acquired by CEAI since 2011 – 9,668 units in 36 properties at a total cost of $1.06 billion in 14 states
CEAI annual multi-family acquisition target – 2,500 to 3,000 units
Affordable housing developed by CEDG and predecessors – 7,401 units in 90 properties in 17 states
CEDG total development since 2014 – 32 projects totaling 3,505 units at a cost of $779 million in 13 states
CEDG annual development targets – 2,000 to 2,500 units
States of Operation (bold italics are current):

Nexus 5 Group, LLC – 2019 to present:
- Construction – 956 projects for 120 clients
- Service Division – 4,940 projects for 164 clients
- Mechanical Division - 158 projects for 18 clients
- Projects totaling $65.3 million in cost completed
Cohen-Esrey Capital Partners, LLC
- Syndicated nearly $500 million in federal Historic Tax Credits, federal affordable housing tax credits, Missouri state affordable housing tax credits, multiple state historic tax credits
- Completing the fundraising for CEAI Fund XXIII, LLC, a $13.3 million co-investment fund for CEAI apartment acquisitions
- Completed the fundraising for CEAI Fund 24, LLC, a $26.5 million co-investment fund for CEAI apartment acquisitions
- Fundraising in process for CEAI Fund 25, LLC, a $26.5 million co-investment fund for CEAI apartment acquisitions
- Placing construction and permanent debt for CEDG and CEAI

Look! New Grandbabies!

Here is the ultimate example of Team Member Fulfillment!

Mark Fletcher (2008), Chief Technology Officer, is over the moon with joy surrounding the birth of his fourth grandchild, Theodore James Board, born on October 12, to daughter Madison (and being held by big sister, Emma). This little guy was 20 inches long and weighed 7 pounds 11 ounces. And just look at that full head of hair! Congratulations, Mark, on such a happy event!

Not to be outdone, Jennifer Turner (2018), Director of Human Resources, is pleased as punch over the birth of her second grandchild, Kennedy Shea Tierney. Born two weeks early on October 18, this little bundle of joy was 19-1/4” long and weighed 6 pounds 14 ounces. Big brother Hayden now has someone to play with! Congratulations, Jennifer, on such a beautiful baby!

In case you are wondering, both Grandpa Mark and Grandma Jennifer are doing just fine. 😊

Good Weather for Construction

Construction continues to proceed at Sinclair Flats in Mankato, MN; the Landing at 818 in Sun Prairie, WI; Loma Vista Lofts and Lofts at Creekview in San Antonio, TX; Lofts at the Grim in Texarkana, TX, and the Trails at Lehow in Englewood, CO. In a few weeks, we expect to close the partnership and start construction for Panorama Heights in Colorado Springs, CO.

Progress continues during great weather at Sinclair Flats in Mankato, MN.

Parking lot paving has begun at Sinclair Flats in Mankato, MN.

There are 132 prospects wanting to move into the 100-unit Landing at 818, in Sun Prairie, WI, which will be ready for occupancy soon.

Initial site preparation for the Loma Vista Lofts in San Antonio, TX, has been completed and underground plumbing lines installed.

NPS Leaderboards

The three NPS Leaderboards have been updated as of October 21, 2022, and the Leaderboards remain the same as last month In the 50-Units or Less category Clay Hall (Enid, OK) held onto its lead with a terrific NPS of +91.49. In the Properties 51 to 120-Units category, Eileen’s Place (Kansas City, KS) scored an NPS of +78.95. And in the Properties of More than 120-Units category, The Boulevard (Springfield, IL), continues to lead all properties with an NPS of +93.55! There are 31 properties on a Leaderboard so far during October.

We continue to recognize those properties with a Maintenance Survey NPS that is equal to or exceeds our Overall NPS of +35. To qualify a property must have surveys from the equivalent of 40% of its units or more. We continue to emphasize the importance of providing improved maintenance service to deliver Customer Fulfillment. There are 18 properties this month – the same as last month. It’s also great news to see our Overall NPS tick back up to +35! Thanks to everyone who is putting the warm blanket around our customers.

Maintenance Ticket Surveys