June 19, 2023
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.
Huge Apartments at Tall Oaks

Cohen-Esrey Apartment Investors (CEAI) acquired Tall Oaks in September 2020. The 174-unit market rate community is located in the Atlanta suburb of Conyers, GA, and was built in 1988. The property features large one-bedroom units of 950 square feet that rent for $1,150 per month. Two-bedroom units range from 1,100 to 1,200 square feet and rent for $1,330 to $1,610 per month. Three-bedroom units are 1,300 square feet and rent from $1,575 to $1,930 per month. Tall Oaks offers a resort-style swimming pool, tennis court, clubhouse, and is surrounded by beautiful trees. Apartment interiors include oversized closets, plank-style flooring, washer/dryer connections, electronic thermostats, private patios and balconies, and upgraded appliances and other premium appointments in selected units. This is the third apartment community in Atlanta that has been acquired by CEAI. Previously, the 350-unit Sandtown Vista was purchased in 2016 and sold in 2021. A CEAI partnership continues to own the 192-unit Hamptons at East Cobb in Marietta, GA, which was purchased in 2019.
Atlanta is a target market for CEAI as well as the Cohen-Esrey Development Group (CEDG). The metro area is home to more than 6.1 million people making it the eighth largest in the country. One of the most attractive factors is its population growth. From 2021 to 2022, the city saw a 1.73% increase in population, and from 2022 to 2023, the increase was 1.55% making it the eighth fastest growing city in the U.S. Hartsfield-Jackson International Airport is the busiest in the world with nearly 94 million passengers each year. With a Gross Domestic Product (GDP) of $385 billion, the Atlanta metro economy is the 11th largest in the country and the 22nd largest in the world. It hosts the global headquarters of Coca-Cola, Home Depot, Delta Airlines, Arby’s, AT&T Mobility, Georgia-Pacific, Chick-fil-A, Church’s Chicken, Dunkin Donuts, Norfolk Southern Railway, Mercedes-Benz USA, NAPA Auto Parts, Papa Johns, Porsche AG, Newell Brands, Marble Slab Creamery, and UPS. Professional sports are also an important part of the Atlanta culture including the Atlanta Braves (MLB), the Atlanta Falcons (NFL), Atlanta Hawks (NBA), and the Atlanta United FC (MLS). The city has 343 parks, nature preserves and gardens that cover 3,622 acres. Interestingly, 64% of Atlantans live within a 10-minute walk of a park. Finally, Atlanta is home to more than 15 colleges and universities including prominent institutions such as the Georgia Institute of Technology, Georgia State University, Emory University, Spelman College, Clark Atlanta University, Morehouse College, and Morehouse School of Medicine.
Shannon Doyle (2022) is the Property Manager and Alyssa Garza (2022) is the Area Manager. Mike Gioia (2020) is the Senior Property Accountant, Nancy Lewis (2021) is the Property 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.
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Shaylynn Fox – Lakes at North Port, North Port, FL – Property Manager
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Monica Murrell – Park at Forest Hill, Memphis, TN – Leasing Agent
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Heidi Hess – Park Edge, Lenexa, KS – Property Manager (Rehire)
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Jeffrey Pearson – Perry 81, Overland Park, KS – Property Manager
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Kelsee Brown – Perry 81, Overland Park, KS – Assistant Property Manager
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Samantha Jones – Lofts at the Grim, Texarkana, TX – Property Manager
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Dalton Harris – Cohen-Esrey Development Group – Intern

Meet the IT Team

These are the folks that toil day and night who assist with a multitude of questions and issues, keep the network operating, upgrade our hardware, and provide terrific software tools. Meet our Information Technology Team. L-R – Levi Cook (2022), IT Help Desk Technician, Mark Fletcher (2008), Chief Technology Officer, Ryan Rupert (2018), Network Administrator, Lizzy Darby (2021), Level 1 Web Developer, and Zach Wise (2020), Web Developer.
Because they are such a fun-loving bunch, they thought the following photo was much more representative of their respective personalities. We are so appreciative of what this team does to provide outstanding Team Member Fulfillment!



Promotions and Role Changes at Nexus 5
John Hinman (2011), Managing Director of the Nexus 5 Group, has announced several promotions and roles changes. Josh McDonald (2018) has been named Construction Division Manager and will oversee the estimating and project management of commercial and multi-family projects. He will lead the project management team including Senior Project Managers Stan Phelps (2017), and Brent Hastings (2018), as well as Project Managers Brian Weber (2020), Todd Smith (2022), Tom Hoelting (2022) and Senior Project Engineer Jessica Bell (2014).) This is a perfect fit for him and aligns with his passion to help elevate team members and position them for success.
Brent Hastings has been promoted to Senior Project Manager. Over the last five years Brent has grown tremendously in his experience and knowledge and is truly a rising star for Nexus 5.
Senior Project Engineer Jessica Bell’s role as Senior Project Engineer will now include leading the team of Project Engineers including Emma Green (2018), Katie Reed (2022), Gavin Renft (2020), and Cody Fredricksen (2021).
The Nexus 5 offices at the Corporate Headquarters have been re-arranged with the Construction Division now located on the south side of the office and the Accounting, Business Development and Operations teams on the north side.




Transformational Construction!
Construction continues at several Cohen-Esrey Development Group (CEDG) future communities.

Getting closer to completion at Sinclair Flats in Mankato, MN!

Loma Vista Lofts in San Antonio, TX, is now going vertical.


Calling All Tipsters!
We’re launching a new concept in People & Properties . . . Calling All Tipsters! We will offer a subject and ask all team members to give their advice, tips, or experiences that may prove helpful to other team members. In this issue we pose the following question:
What is the #1 thing you do to deliver Customer Fulfillment?
Please send your responses to me, Lee Harris, at lharris@cohenesrey.com. Periodically when we receive some outstanding ideas, we’ll send a $25 gift card to express our appreciation, and we’ll be sharing some of the best responses in each issue.



Another Empowerment Story
By Whitney Fulwood (2022), Property Manager, Big Chair Lofts

Whitney Fulwood (2022), is the Property Manager for the Big Chair Lofts in Thomasville, NC. Here is what she has to say about her Empowerment:
I started in property management as a leasing consultant in 2014. My property was a tax credit property for which I had a love/hate relationship with. From there I grew into the roles of Assistant Manager, Property Manager, and then an Area Manager overseeing residential and commercial properties.
After taking a little time away from property management, I decided to apply at Cohen-Esrey in October 2022. From HR all the way to my Regional Manager it was a breath of fresh air. They were honest about the property and let me know if I needed anything they would be there every step of the way. Big Chair Lofts is a beautiful 139-unit property that used to be a furniture factory – there is so much history inside these walls. Although no property is perfect, one goal I have reached is getting to 91% occupancy when this property has been in the 80's for a while. I have other goals that I know I will reach before the end of year. With good leadership and positivity all around me it helps!
Cohen-Esrey has shown me the meaning of teamwork, perseverance, and motivation. I have learned and grown so much here at Big Chair with my team which is now like a family. I am happy that Cohen-Esrey chose me, and I wouldn't have it any other way.


Living Without Roller-Coaster Emotions
By R. Lee Harris (1975), President and CEO

I have never liked to ride on roller coasters. The feeling where my heart ends up in my stomach is not what I consider to be a pleasant experience. When I was learning to fly airplanes my flight instructor would tell me to close my eyes and put my head in my lap. He would then undertake some radical maneuvers – up and down at random – then he’d say, “You have the airplane.” It was my responsibility at that moment to figure out what was going on and take the necessary corrective action to get the airplane straight and level without crashing! This involved several hundred feet at over a hundred miles an hour. Talk about a roller coaster ride on steroids – yeow!
Entrepreneurial endeavors are much like a roller coaster ride and sometimes like my flight training. There is one difference with the flight training however – we practiced the wacky maneuvers at an altitude of 5,000 feet or more. As entrepreneurs we often fly metaphorically at 50 feet or even less providing little room for error. So, how does the roller coaster ride manifest? Here’s a typical set of scenarios.
We get up in the morning and work out at the gym then go for a run. Usually we feel pretty “up” afterwards – a great way to start the day. The roller coaster is flat and level and is just picking up speed. We have breakfast with a client who tells us she is going to place a substantial order for our product. Woohoo! The roller coaster is on the first vertical climb. Then on to the office where the minute we walk in the door, we find out that one of our top product people has given two weeks-notice and is going to work for a competitor. Oops, the roller coaster is moving fast downhill now. A couple of hours later our breakfast client calls to tell us that she has decided not to place the substantial order after all – the roller coaster now takes a couple of barrel rolls before heading into a terrifying dive. Then out-of-the-blue we get a call from our corporate counsel informing us that a class action suit for which we’ve been a part has been settled and we’ll be receiving a healthy check (after deducting legal fees, of course). Now the roller coaster is soaring up into the clear blue sky blue again. And so it goes for the rest of the day.
Does this sound familiar? If it does, welcome to the wonderful world of entrepreneurship. You are not alone. We all know this is going to be the life we live. It’s the life we’ve chosen. The challenge is how we successfully deal with the ups and downs without letting the roller coaster get the best of us. So, what to do? Here’s something I learned a long time ago. We entrepreneurs tend to magnify whatever is in front of us. If it’s something positive, we can see it as the greatest accomplishment for which we’ve ever been a part. And if it’s a negative experience, we can’t imagine that it could have been worse for anyone else. As a result, we can experience the highest of highs and the lowest of lows. I have resolved that I’m not going to take any of this too seriously and you might take this approach too. Most of the time nothing is as good or as bad as it may seem to be at that moment. Once we realize this to be the case, we can go about our business with less emotion.
The NFL football players of today are into celebrations – big time. When they score touchdowns, they “perform” in the end zone. Many of them do the same when they are a part of a big play on offense or defense. I remember a player named Marcus Allen who scored a lot of touchdowns for the Oakland Raiders and later, the Kansas City Chiefs. When Allen scored, he handed the ball to the official. There was no display of emotion – no end zone antics. Instead, he showed true professionalism and acted like he had been there before (which he had, over and over and over). When we can focus on a professional approach to our entrepreneurial endeavors and eliminate emotion, we can avoid the roller coaster ride. No, this doesn’t mean we are void of emotion altogether. It’s fine to celebrate when truly major good fortune has been realized. But we don’t need to jump on the roller coaster for everything that happens during the day.
Realizing that nothing is really as great as it seems or as bad as it seems can help us moderate our emotions. We can then function like the professionals that we are and avoid the roller coaster ride.


Customer Fulfillment
Cynthia Johnson (2021) Property Manager from Justin Place was recognized at the Cohen-Esrey Leadership Conference as a 2022 Customer Fulfillment Award winner. Here is what was said about her during the presentation ceremony:

Team Member has been with CE for 6 years. Team member wears her heart on her sleeve but is always consistent, firm, but fair and equal with her customer interactions. Team member brings in resources for her customers to meet their needs whether it be rental assistance, utility, clothing, toiletry or food needs. Team member transferred to a new property in late 2021 that had a significant amount of turnover in the PM role over the years. She wanted to correct the stigma that the customers had of PM not caring about their needs and concerns. The resident retention has increased significantly based on this team members’ approach to customer fulfillment. Residents frequently call in to the corporate office or write in their survey responses how they appreciate this PM and how she has been the best PM that CE has ever had at this property. The property made it on to the NPS leaderboard in July and has since maintained its position in the top 5. The property went from a +5 when she started in late October 2021 and ended 2022 with a +33. It has already increased significantly in the current year to +52.
Gilberto Pedraza (2013) Property Manager from Astoria Park was recognized at the Cohen-Esrey Leadership Conference as a 2022 Customer Fulfillment Award winner. Here is what was said about him during the presentation ceremony:
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This property manager always has customer fulfillment on their mind, it is reflected in their NPS of +41 and on the leaderboard all 12 months in 2022. The property may not have much cash flow to work with or be the most up-to-updated property and has had its fair shares of difficult maintenance issues, but this PM always leads their team in a way to keep Customer Fulfillment in mind, in all areas every day. The PM has worked in make readies to ensure move in dates are met and units are ready to go, runs service request, and will take on any project or issue with grace and find ways to make it happen, all in the spirit of Customer Fulfillment. The PM will do whatever is necessary for the residents, assist them with rent resources, works with outside agency on housing needs, and offers a number of resident services on site. This Customer Fulfillment Award goes to Gilbert Pedraza.
Macaria Gonzales (2010) Property Manager from Eileen's Place was recognized at the Cohen-Esrey Leadership Conference as a 2022 Customer Fulfillment Award winner. Here is what was said about her during the presentation ceremony:

Team member will be celebrating her 13th year with CE later this year. She was promoted to a PM in 2015 and transferred to her current property in September 2021. This property was under a lease-up at arrival as a newly built layered community with tax-credit, PBV housing vouchers and market units with a focus on housing families who are homeless or facing homelessness. This team member jumped in to learn the new state compliance regulations and the multi-layering affordable programs that were new to her. Keeping Customer Fulfillment at the forefront of everything she does, this team member was able to keep the calm in the storm of all the challenges this site faced during lease-up with a 10-month delay in the county processing the PBV housing vouchers that required her and case management to actively work with residents to find resources to sustain their housing and cover their rents until receiving the PBV contract. Both Ownership partners, one who also provides the service coordinator partnership for the site constantly gave praise to this team members RM about how much they appreciated all she has done and how they could not have done it without her. They stated that they have dozens of other projects with on-site social services and they wish it ran as smoothly as it does with this property and PM. During the welcome home event hosted by owners in 2022 following the lease-up, residents were asked to write down what they enjoyed most about their new home and on 90% of the cards, this team member’s name was mentioned. The property ended 2022 on the NPS leaderboard with an NPS of +75.


#18!!!
Congratulations to the Cohen-Esrey Development Group (CEDG) for being named by Affordable Housing Finance magazine as #18 on the list of the 50 largest developers of affordable housing in the country! The magazine cited CEDG for starting 869 units in 2022 - #17 started 877 units – so it’s a horse race! The top-ranked developer started 3,091 units which is definitely a target for CEDG during the next few years. Great job CEDG team!!




The Cities of Cohen-Esrey

To date we have featured St. Louis, Topeka, KS, Wichita, KS, Springfield and Joplin, MO, and San Antonio, TX, in our series on the Cities of Cohen-Esrey. In this issue we’ll focus on the Dallas Metroplex, where Cohen-Esrey has had an off-and-on presence for 30 years. CEAI has acquired three market-rate properties in Dallas/Fort Worth (one was sold in 2021) – the photo is of South Pointe. Both CEAI and CEDG have targeted this market as a priority for acquisitions and development. Over the years, Cohen-Esrey has managed nine apartment properties totaling 2,026 units and ten commercial properties totaling 325,000 square feet including office buildings and industrial facilities.
The Dallas-Fort Worth Metroplex encompasses 11 counties and has a population of more than 7.8 million people, but by 2045, that number could increase by 3.4 million people. To give you an idea of the scale of the population numbers, there are 15 suburbs with populations exceeding 100,000. The DFW Airport is the world’s second busiest behind Atlanta. The metropolitan region's economy, also referred to as Silicon Prairie, is primarily based on banking, commerce, insurance, telecommunications, technology, energy, healthcare, medical research, transportation, and logistics. As of 2022, Dallas–Fort Worth was home to 23 Fortune 500 companies, the 4th-largest concentration of Fortune 500 companies in the United States behind New York City (62), Chicago (35), and Houston (24). In 2016, the metropolitan economy surpassed Houston to become the fourth largest in the U.S. The Dallas–Fort Worth metroplex boasted a GDP of just over $620.6 billion in 2020. The Metroplex saw 6.5% job growth in the year ending October 2022.
Dallas/Fort Worth is home to six major professional sports teams including the Dallas Cowboys (NFL), Dallas Mavericks (NBA), Dallas Wings (WNBA), Texas Rangers (MLB), Dallas Stars (NHL), and FC Dallas (MLS). Multiple colleges and universities are in the Metroplex including the University of Texas at Arlington, Texas Christian University (TCU), University of North Texas, University of Texas at Dallas, Texas Woman’s University, and Southern Methodist University to name just a few. The UT Southwestern Medical Center is home to six Nobel Laureates and was ranked No. 1 in the world among healthcare institutions in biomedical sciences.



NPS Leaderboards
The three NPS Leaderboards have been updated as of June 16, 2023, and the leaders remained the same as the prior month. In the 50-Units or Less category The Summit at Osage (Osage Beach, MO) leads with a score of +93.94. In the Properties 51 to 120-Units category, Orchard View (Farmington, MO) remains in the top spot with an NPS of +97.06. And in the Properties of More than 120-Units category, The Boulevard (Springfield, IL), continues its stranglehold on first place, with an NPS of +92.57. There are 38 properties on Leaderboards – one more than last month, and we continue to celebrate having FIVE properties on the Leaderboards with an NPS of +90 or higher.
We continue to recognize those properties with a Maintenance Survey NPS that is equal to or exceeds our Overall NPS of +40. 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 21 properties this month, one more than the previous month.



Maintenance Ticket Surveys

