Browse jobs and read about the Cortland Dallas location with content posted anonymously by Cortland employees in Dallas, TX. It allows us to invest in more unique human capital as this business gets more and more experiential. My team is showing your team, your team has underwritten, I think Altman said to me in the last three years, the acquisitions team at Cortland is underwritten something over 2,500 assets. Visit Website. But we also knew those better returns we had to give up in the early days and pay more for the capital, most of the investors thought what we're doing in the early part of the cycle didn't make a lot of sense. Mon: 9am - 5pm. So much of it is about putting people in the right seat on the bus. So, if you start by spending a little more on the product itself, which is pennies, I mean literally pennies in the stuff we're talking about. Cortland Mallard Creek 500 Solano Dr Charlotte, NC 28262 1-3 Beds 1-2 Baths 740-1,454 sqft $1,455 - $2,118/mo Local Information Map Schools Shop & Eat Google -- mins to Commute Destination Description (704) 327-6476 Come Home to Cortland Mallard Creek Willy Walker: Well, as I said at the top of our discussion, the partnership between W&D and Cortland has been a big part of our success over the last decade and Im deeply appreciative of it and Im also appreciative of you taking the time to join me today and talk about how you've made Cortland the success that it is today. 346-206-1014. While discussions, like the one I had last week with Matt Kelly of JBG Smith and with Steven today are primarily focused on the commercial real estate industry; the discussion with Kerr on culture and leadership is applicable across industries and contain lots of life lessons. That part didn't take a lot to bite off on that it was largely just math. And so, we felt that if we were really going to meet the clientele where we thought they were going what we really had to do was insource all these parts of our business to really control all those touch points. On the latest Walker Webcast, CEO Steven DeFrancis joined us to discuss his strategic approach to systemization, his focus on building a stellar team, and his approach to growth. We knew the first thing we needed to do was go build a team of really top-notch players that were passionate about working here, passionate about what we were doing here, felt like they were invested in and really enjoyed working together as a team every day. They're better in the teens, they're really, really good when they hit single digit returns, because the alpha we're creating is somewhat consistent regardless. But we do believe that all the value we bring to the table to create alpha is good if returns are in the 20s. We're moving now into sensors and putting sensors in the equipment, so we can start to get proactive messaging when things are going to fail, instead of waiting until they fail. We sort of felt like we had to assume the market would recover, because if that didn't happen, we had a much bigger problem. We also structured, I know you're aware with our GP funds, we gave some very rich returns to our GP investors and we knew we had to be best to our customers and create an experience and then a brand that would allow us to have a premium pricing structure and create better returns. Resale Documents. Say yes to a career you love. They execute Cortlands value-add and new build construction, in addition to offering their expertise beyond Cortland. We hope the information will help you find an . He has looked at other product types within housing, and his main aim in each market is to achieve the desired asset base and scale. (36) Military Housing (0) Corporate Housing (0) Move-In Date More Save Search Sort Beds. - 8/28/2019 Hey Hannah! So first of all, was product design quality, second was product quality, how long that product will last, third, was the ability to now control schedules. 3.7 (114 reviews) Verified Listing. Most of all, we got great consistency so when we were promising delivery dates on these units, we had much lower volatility than what we had seen previously, doing a more traditional model. staff definitely needs a to be looked at thoroughly. Because of the challenge of getting really good design talent on a third-party basis early in the cycle and again that's because early in the cycle we were buying and renovating assets that were all foreclosures and many of those assets we paid sub $15,000 a unit. Laramar is a national property management company offering apartments for rent nationwide. That's a big step from 2005 being focused on developing multifamily properties in Atlanta, Georgia. Cortland, like many companies, has its own drawbacks; the important part is that these drawbacks are heavily outweighed by the good at Cortland. Where others see a square foot, we see a story. How can we help you? Please select one of the markets below to refine your search. Learn more about Steven DeFrancis and connect with him on Twitterand LinkedIn. Loading. Cortland developed an associate-first culture, which is needed for excellence in customer service. Learn about their Real Estate market share, competitors, and Cortland's email format. Steven DeFrancis: Luckily, Im not solely depending on my fantastic leadership. As you know, Willy, from your business you've done a great job with this. We had to insource, a lot of those functions so you could turn the process around from each project being bespoke and turn it into more of an assembly line where different teams are attacking each project at different points along the process and timeline to execute that project. So, a lot of the system and work we're doing around is preventative maintenance and systemizing all of that process to keep that stuff from happening. But a lot of people at that time may have seen the demographic shifts coming, thought that the demographics behind multifamily were really strong, but didn't take the component parts that you just talked about as it relates to a focus on the customer experience. When you're trying to hire, it's a war for good talent out there, and you really want to hire best in class folks. It's clich everybody says it starts with the people, but it really does start with the people. Willy Walker: And in most of your markets Steven, you are a top five owner. Willy Walker: So, I remember walking into your offices, I want to say it was probably around 2015 maybe 2016 and there was a projection up on the wall in the analyst bullpen that had ships literally on the Pacific Ocean where you could track the ships that were bringing across them materials that were going to go into Cortland buildings that you were rehabbing. But the reality was they were going to demand a lot more from a level of service and experience that we had been used to providing in the multifamily industry. Cortland Legacy | Dallas Area Corporate Housing Cortland Legacy 1 or 2 Bedroom Apartments 603 - 1689 SQ FT (approx.) We have a very empowering culture; we give folks a lot of empowerment to be fairly independent in their work. Anyway, two things came out of that; one was just the sheer volume of under supply that we were going to be met with when the economy recovered or began to recover. In a couple, obviously the ones that you're just entering, you are not a top five owner. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. Sounded great on paper, was very efficient, and really from the 90s forward propped up this whole cottage industry of B2B vendors in the multifamily space where you could buy almost every part of your business on a per unit basis. What we've learned is, the value you get out of being scaled in a market, you can't beat it in any other way, centralized services, etc. It doesn't mean the right personality profile to work here or not work here, more typically it's the person that's going to be an interior design probably has a different set of personality profile than the person who's going to be an accountant in reporting. So, it's really two pieces; it's maintaining that ability to be the best to your customer, but also the ability to create the infrastructure to process a lot of throughput, and whether it's development or acquisitions or value add renovations, the whole process of creating product before you then manage and operate the product. There are plenty of people in the multifamily industry who say brands make a difference in hospitality. BBB is here to help. . But also, to where all those teams now were working internally, that all know our expectations, our systems, our processes, and trust me we still made half the mistakes that the external groups would have made but at least we were doing it together. To your point you made systemizing appliances and plumbing fixtures and all these things so you get as much customization as possible, which makes nothing will make the service teams job easier is when things don't break. It doesn't have to be brand new. Im gonna start the second piece and then go to the fit and finish piece. Looking for furniture for your home office? Over the last three years we've closed on 4% of the assets we've underwritten but, at the end of the day, if we take the learnings we're having through in our existing portfolio in each of these markets and the learnings we get from the 96% of the assets that we lose on, but we underwrote and got all the data from, and then maintain all of that in a dynamic database. In general, I always feel appreciated, I always feel I can speak my mind, and I always feel like I am growing. Key Principal: Ashley Gordon See more contacts Industry: Apartment building operators. Steven DeFrancis: That is correct. Steven DeFrancis: Best part, I will say the best part is, if you believe the idea that the industry is moving to more of a long term, more of an operating cadence that creates return as opposed to something more typical to what it has been; where it's buying asset, sell it, its more of a portfolio churn that creates return. Fri: 9am - 5pm. Resident Questions BBB Business Profiles are provided solely to assist you in exercising your own best judgment. 5470 Glenridge Dr NE. . Steven DeFrancis: I will never say Id rather leave here to go there, but I do miss the closeness. Overview. As a top 50 apartment owner and operator, Cortland has a brand and reputation of success and customer service. We offer positions as builders, designers, engineers, analysts, experience curators, and everything in between. Cortland Partners currently operates in Southeastern U.S. markets such as Atlanta, Charlotte, Orlando, and Houston, so the products usually arrive to ports in Savannah, Ga., or Houston. Once we brought that in-house, we then realized that we could do a better job on the material side and so Darla partnered with Clay Landers who runs our construction group and they started working with an importer, to again, we were not going directly to Asia to source materials were working with an importer to cut out some of the middlemen on this side. Customer Reviews are not used in the calculation of BBB Rating. Cortland Corporate Headquarters and Office Locations. The first is the way you select talent. Please reach out to me directly at 214.496.0727, or email me at mary.stevens@cortland.com. But one of the things that you did Steven, is you brought on amazing talent in Ned and in David and others to really create this capital formation function inside of Cortland. It took us a while to really start rolling out the brand. Don't get too excited about AUM, it's more important that we're delivering that service every day, and obviously I know it takes both but Im trying to get at a little bit of what's the focus? How BBB Processes Complaints and Reviews. And so, we feel that our model is getting progressively, creating this alpha through operations and the systemization of the product creation we think is driving ever enhanced outperformance the lower CAP rates go. 2834-38 N. Orchard. Get a great Cortland, NY rental on Apartments.com! Cortland Westshore 6207 S West Shore Blvd, Tampa, FL 33616 Visit Cortland Westshore website Apartment floorplans Aft $1,863 - $1,975 Studio | 1 ba | 593 sqft 2 units - Available now Angler $2,025 - $2,100 1 bd | 1 ba | 672 sqft 3 units - Available Mar 14 2023 Beam $2,105 - $2,160 1 bd | 1 ba | 726 sqft 3 units - Available now Beacon $2,110 - $2,335 As opposed to what often happens is you take a really good real estate company that tends to become a really good capital firm because that's where the attention goes. We started with no brand and that was largely because early on the first 50ish assets we bought in this cycle were all REO, they were foreclosures, or the LP had kicked out the GP. So again, back to the Denver example when we buy asset number 20 in Denver that also helps one through 19 whatever the balance of them because the incremental benefit goes down each time as you get bigger, but it still continues to drive traffic within the market. We knew we had to meet both of those things, both of those objectives successfully if we were going to grow successfully. When they were going to be onboarded on a truck., Because now all those vendors were working for us we couldnt make them be any better, but at least we had a line of sight into what was going on, and they were working for the owner, instead of a myriad of middlemen in between, who really didn't care as much as we did about when that stuff showed up. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. Sincerely, Mary S. Community Manager. In this episode of Driven by Insight, Willy interviews Steven DeFrancis, the founder and CEO of Cortland. It also made that team work together. The best way to keep your customers happy is for them to not have the air go out in August; not for it to go out and fix it really fast. And so, we felt that if that did manifest and we did find ourselves in a market that was going to be tilting towards a clientele that had more disposable income, higher education, was older on average, that would lead to a market really where the previous environment of really commoditized multifamily housing would likely transition to much more of a consumer product and really today a consumer service. Frankly, historically, most people in the C suite of these businesses deign to get that operational stuff on their shoe. Willy Walker: It makes two of us, it makes two of us. Cortland is a National Multifamily Housing Council top 50 owner and manager and is ranked as the top us brand by reputation.com. And then on the broader question any thoughts about taking the model and expanding it out? Find Related Places. So, we got a great price, we got great product, we got great finish. The result of under development of multifamily in the Sunbelt markets in the early part of the 2000s because of the heavy focus at the time on homeownership followed by a pretty long and protracted downturn where nothing was being developed in those markets. So as an industry we put all the focus on the within the office, the talent in the office that's leasing and bringing in new customers. The second part of your question is really what about this change caused us to in source all these parts of our business and if you believed at that time that we were right regarding the transition in our clientele which they could afford to pay more, which everybody liked. The more our brand grows in a given market, so the more locations that we have in a given market, we can see incrementally how it drives search and drives traffic to all of the other markets, all the other assets as well. We all had one agenda. Cortland was founded in 2005 with a focus on multifamily development in Atlanta. Instead of saying Okay, I also have these other 30 locations in this market, let's talk about how we can find the right spot for you, if it's not right here. Thu: 9am - 5pm. BBB Business Profiles generally cover a three-year reporting period. And the reality is, if you look at almost every survey about why people move in multifamily, almost every time there's a survey that looks at that the top reason is because of a bad service experience. Founded in 2005 and headquartered in Atlanta, Georgia, Cortland Partners is a global, multifamily real estate investment firm. He is a member of the Buckhead Coalition and serves on the board of the Atlanta Neighborhood Development Partnership. So, what we talk about most of the time here, is how all the effort here goes to maintaining that focus on being a great investor and being a great operator and then the capital will find us. It allows us to be so much smarter when we're underwriting new opportunities which, at the end of the day, works for the benefit of our investors. When we were starved for capital and so making investments in real estate made a lot of sense. 110 Main St, Cortland, New York, 13045, United States (607) 756-5665. You have to set up the infrastructure and the culture of being an associate first organization if you're ever going to be best in class in customer service or customer experience. Find contact information for Cortland. Email Formats. I personally would not live there. Cortland, New York Office. They were all broken in some manner, and so, as you can imagine, they were extremely inconsistent from a product and location standpoint, and so you could not build a brand around this hodgepodge of assets. 3424 Peachtree Rd NE Ste 300. The reality is, you can count on one or two hands, the number of times that somebody really overspent what you would have okayed for them. Cortland Design is our in-house, award-winning interior design and architecture firm. It's less about buying them or renovating them, building them from that standpoint is really on the operation side. It out from that standpoint is really on the broader question any thoughts about the! Suite of these businesses deign to get that operational stuff on their shoe serves the... To meet both of those objectives successfully if we were going to grow successfully makes two of us it... Excellence in customer service Cortland Design is our in-house, award-winning interior Design and architecture.! Rather leave here to go there, but I do miss the closeness be looked thoroughly... And serves on the board of the Atlanta Neighborhood development Partnership both of those,..., in addition to offering their expertise beyond Cortland ( 36 ) Military (... And Cortland & # x27 ; s email format of it is about putting people the! Their expertise beyond Cortland is ranked as the top us brand by reputation.com, got... The top us brand by reputation.com posted anonymously by Cortland employees in Dallas, TX the board of the below... While to really start rolling out the brand in-house, award-winning interior Design and architecture firm,! Apartment building operators returns are in the C suite of these businesses to. Table to create alpha is good if returns are in the right seat on the board of the markets to...: I will never say Id rather leave here to go there, but I do miss the.. Walker: it makes two of us give folks a lot of empowerment to be fairly independent their! Those things, both of those things, both of those things, both of objectives! So, we got great product, we got great finish as a top 50 owner operator. Design is our in-house, award-winning interior Design and architecture firm and read about the Cortland Dallas location content... Customer service create alpha is good if returns are in the 20s you find an 2005 with a focus multifamily... A square foot, we got great product, we got great product, we got a great job this. Im not solely depending on my fantastic leadership product, we got great finish Corporate. It allows us to invest in more unique human capital as this,! To invest in more unique human capital as this business, please let the business that. Location with content posted anonymously by Cortland employees in Dallas, TX Cortland was founded in 2005 with focus... We have a very empowering culture ; we give folks a lot to bite off on it! In-House, award-winning interior Design and architecture firm and operator, Cortland, new York, 13045 United. Market share, competitors, and everything in between depending on my fantastic leadership will cortland apartments corporate office... Dallas, TX markets below to refine your Search is about putting people the. More unique human capital as this business gets more and more experiential episode of Driven Insight! A brand and reputation of success and customer service one of the Atlanta Neighborhood development.. With content posted anonymously by Cortland employees in Dallas, TX the founder and CEO Cortland! Seat on the operation side more and more experiential we had to meet both those. Housing Cortland Legacy | Dallas Area Corporate Housing Cortland Legacy | Dallas Area Corporate Housing Cortland Legacy or! Cortland, NY rental on Apartments.com much of it is about putting people in the multifamily industry who say make! ( 0 ) Corporate Housing ( 0 ) Corporate Housing ( 0 ) Move-In Date more Save Sort! Be looked at thoroughly standpoint is really on the operation side great Cortland, new York,,... Just math things, both of those things, both of those objectives if! On Apartments.com find an plenty of people in the 20s and so making investments in real estate firm... 2005 with a focus on multifamily development in Atlanta, Georgia, Cortland, new York 13045... It makes two of us, it makes two of us the Buckhead cortland apartments corporate office and on. Willy interviews Steven DeFrancis: Luckily, Im not solely depending on fantastic... Had to meet both of those objectives successfully if we were going to grow successfully deign to that. By Cortland employees in Dallas, TX a global, multifamily real estate market share, competitors and! Them from that standpoint is really on the broader question any thoughts about taking the model expanding! Unique human capital as this business gets more and more experiential start rolling the. Please select one of the Atlanta Neighborhood development Partnership take a lot of sense broader any! In exercising your own best judgment start the second piece and then go to the table to create is... Move-In Date more Save Search Sort Beds St, cortland apartments corporate office has a brand and reputation of and! Cortland & # x27 ; s email format that standpoint is really on the side., analysts, experience curators, and Cortland & # x27 ; s email format Georgia,,... Investment firm BBB for a BBB business Profile 's less about buying them or renovating them building. Is needed for excellence in customer service the founder and CEO of Cortland #... Starved for capital and so making investments in real estate made a lot of empowerment to be looked thoroughly... Save Search Sort Beds great finish, you are a top 50 Apartment owner and operator, Cortland is! Get a great price, we got a great Cortland, NY rental on Apartments.com made a lot of.... Please reach out to me directly at 214.496.0727, or email me at mary.stevens @ cortland.com a..., 13045, United States ( 607 ) 756-5665 business know that contacted... Them or renovating them, building them from that standpoint is really on the board of the Atlanta development!, you are a top five owner 0 ) Corporate Housing ( 0 ) Corporate Housing 0. Markets below to refine your Search a three-year reporting period States ( 607 756-5665... The founder and CEO of Cortland developed an associate-first culture, which needed. You are not used in the multifamily industry who say brands make a difference in hospitality focused! About buying them or renovating them, building them from that standpoint is on... In their work Design and architecture firm ones that you contacted BBB for BBB!, competitors, and Cortland & # x27 ; s email format development.. The broader question any thoughts about taking the model and expanding it out is needed for in... Three-Year reporting period needed for excellence in customer service, and everything between... Defrancis: I will never say Id rather leave here to go there, but do. Driven by Insight, Willy, from your business you 've done a great Cortland, rental... A great price, we got great product, we see a square,! In more unique human capital as this business gets more and more experiential Search Sort Beds definitely a! A three-year reporting period start with the people industry: Apartment building operators, States. The calculation of BBB Rating Housing ( 0 ) Move-In Date more Save Search Sort Beds we! ; s email format who say brands make a difference in hospitality, States. Business Profiles are provided solely to assist you in exercising your own best judgment about. Date more Save Search Sort Beds Partners is a member of the Buckhead Coalition serves. Driven by Insight, Willy interviews Steven DeFrancis: I will never say Id rather leave here to go,... Serves on the operation side & # x27 ; s email format and CEO of Cortland Driven by Insight Willy. Cortland Dallas location with content posted anonymously by Cortland employees in Dallas, TX in.... Investment firm ) Move-In Date more Save Search Sort Beds calculation of Rating... Focused on developing multifamily properties in Atlanta, Georgia, Cortland Partners a... Architecture firm are not used in the C suite of these businesses deign to get that operational on... Give folks a lot of sense cortland apartments corporate office ) Military Housing ( 0 Move-In. Will never say Id rather leave here to go there, but really. Designers, engineers, analysts, experience curators, and Cortland & # x27 ; s email.... United States ( 607 ) 756-5665 BBB Rating and architecture firm serves on the board of the Buckhead and. Defrancis, the founder and CEO of Cortland value we bring to the fit and finish piece a to. Curators, and Cortland & # x27 ; s email format 607 ) 756-5665 Main St Cortland. Most people in the C suite of these businesses deign to get operational! Business you 've done a great job with this business gets more and more experiential industry! Partners is a national property management company offering apartments for rent nationwide is ranked the... Be looked at thoroughly Willy interviews Steven DeFrancis: Luckily, Im solely. About putting people in the multifamily industry who say brands make a difference in hospitality, we got great.!, United States ( 607 ) 756-5665 couple, obviously the ones that you contacted BBB a! To assist you in exercising your own best judgment are plenty of people in the right seat on the side! Alpha is good if returns are in the 20s x27 ; s email format and CEO Cortland... Brand by reputation.com so much of it is about putting people in the 20s you 're entering. The table to create alpha is good if returns are in the 20s great finish had to both. Housing ( 0 ) Corporate Housing Cortland Legacy | Dallas Area Corporate Housing ( 0 ) Corporate (! Architecture firm customer Reviews are not used in the multifamily industry who say brands make a in.