October 23, 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.

Brand New Affordable Housing in Mankato, MN

The Cohen-Esrey Development Group (CEDG) has hit a home run with its first project in Minnesota. Sinclair Flats is set to open in early November and 33 of the 48 units are already leased. The $14 million development will be occupied by families and offers one-bedroom units of 624 square feet renting for $758 to $1,050 per month. Two-bedroom units range from 861 to 948 square feet and rent for $911 to $1,250 per month, and three-bedroom units are 1,180 square feet and rent for $1,054 to $1,450 per month. Amenities include a community room, business center, playground, fitness center, pet wash, bike rack, fitness center, picnic and barbecue area, walking trails, community garden, and a rooftop deck. Unit interior appointments include plankstyle flooring, in-unit washer and dryer, key fob entry system, gallery kitchens, and ceiling fans. Literally across the parking lot, residents can shop at the Cub Foods grocery store and pharmacy, as well as eat at Burger King or Little Caesars Pizza. Mankato West High School is two blocks away. Sinclair Flats is part of a three-phase development that also includes a ten-unit townhome site that is being developed by a Mankato residential developer, and the 64-unit Lewis Lofts which is under construction and being developed by CEDG. The site is near the Minnesota River and the Hiawatha Pioneer Trail highway.

Mankato, a community of 104,000 citizens (metro population), is in south central Minnesota approximately 81 miles southwest of Minneapolis and 84 miles west of Rochester. Mankato Township was not settled by European Americans until Parsons King Johnson in February 1852, as part of the 19th-century migration of people from the east across the Midwest. New residents organized the city of Mankato on May 11, 1858, the day Minnesota became a state. The city was organized by Johnson, Henry Jackson, Daniel A. Robertson, Justus C. Ramsey, and others. A popular story says that the city was supposed to have been named Mahkato, but a typographical error by a clerk established the name as Mankato. The protagonist of Sinclair Lewis's 1920 novel Main Street, Carol Milford, is a former Mankato resident. Lewis describes Mankato as follows: "In its garden-sheltered streets and aisles of elms is white and green New England reborn," alluding to its many migrants from New England, who brought their culture with them. Lewis wrote a substantial portion of the novel while staying at the J.W. Schmidt House at 315 South Broad Street, as now marked by a small plaque in front of the building. Sinclair Flats and Lewis Lofts are named as a tribute to Sinclair Lewis. Minnesota State University in Mankato is the second largest university in the state with an enrollment of more than 12,500 students.

Lydia Bargabus (2023), is the Property Manager, and Rebecca Grimm (2019), is the Regional Manager. Hayley Fisher (2023), is the Property Accountant, Emily Fletcher (2022), 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.

Patricia Payne – Tower Village, St. Louis, MO – Assistant Property Manager
Tedario Jasper – Park at Forest Hill, Memphis, TN – Maintenance Technician
Brooke Vang – Village on Main, Waunakee, WI – Leasing Agent
Gabe Gillespie – Park Edge, Lenexa, KS – Make-Ready Technician
Tiffany Young – Intrada St. Louis – St. Louis, MO – Property Manager
Timothy Cline – Carlyle, Shawnee, KS – Groundskeeper
Jacob King – Perry 81, Overland Park, KS – Leasing Agent
Aaron Johnson – Perry 81, Overland Park, KS – Maintenance Technician
Rodney Short – Astoria Park, Amarillo, TX – Maintenance Technician
Emanuel Burnette – Andover Park, Kansas City, MO – Leasing Agent

Meet the Clay Hall Team

Meet our team at Clay Hall Senior Residences in Enid, OK. In the photo are Leslie Menapace (2023), Property Manager, and Steve Bradford (2023), Maintenance Technician. Clay Hall is a 30-unit historic affordable community developed by the Cohen-Esrey Development Group (CEDG). At one time, the property was a women’s dormitory on the campus of Phillips University (now Northern Oklahoma College).

Cohen-Esrey Welcomes Sherry McGee

We are thrilled to announce that Sherry McGee has joined the Cohen-Esrey team as our new Customer Fulfillment Advocate. With a history spanning two decades in the mortgage and wealth management sectors, Sherry’s extensive expertise is not just confined to those fields; she is also accomplished in new home construction and property flipping.

Missouri holds a special place in Sherry’s heart and returning to Kansas City after years spent in Florida and Texas feels like a homecoming. Her professional journey is marked by a relentless pursuit of process optimization and efficiency, underlined by a profound understanding of client needs and market dynamics.

In her free time, Sherry enjoys spending time with her three daughters and three grandchildren. She also enjoys concerts and plays, boating, and traveling to destinations such as Disney World and New York City.

“Our team is immensely excited to welcome Sherry,” says Karen Crouch (2019), Director of Customer Fulfillment. “Her wealth of experience, passion for service, and innovative approach to Customer Fulfillment align seamlessly with our values and vision. We are confident that Sherry will be instrumental in enhancing our client experience and driving our continued success.”

For the hundreds of team members in the field, Sherry offers a friendly face and a friendly voice to help us deliver the level of Customer Fulfillment that our residents deserve. We know you will enjoy interacting with her. Welcome to Cohen-Esrey, Sherry!

Transformational Construction!

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

Landscaping is complete at Sinclair Flats in Mankato, MN.

Heavy equipment is making site improvements at Lewis Lofts in Mankato, MN.

Great aerial view of Sinclair Flats at the far end and Lewis Lofts construction site in Mankato, MN.

Adding windows to Building 2 at the Loma Vista Lofts in San Antonio, TX.

Building 1 at the Loma Vista Lofts is going vertical.

A look at the parking garage at Panorama Heights in Colorado Springs, CO.

Pouring a lot of concrete at Lofts at Creekview in San Antonio, TX.

The Lofts at Creekview site in San Antonio, TX, is massive.

Heading down the home stretch at the Trails at Lehow in Englewood, CO.

Excavation has commenced at The Launchpad in Colorado Springs, CO.

Kurt Parrett Joins 15 – 20 Year Club

Congratulations to Kurt Parrett (2008), for joining the 15 – 20 Year Club! Over the past 15 years, Kurt has been an integral part of the Accounting Department, from his initial role as a Property Accountant to becoming a Senior Property Accountant and, most recently, Property Accounting Manager. His rise through the ranks is a testament to his Commitment and his expertise in the field of accounting.

His willingness to share his expertise and mentor his colleagues over the past 15 years has played a pivotal role in the growth and development of numerous team members over the years. His dedication to knowledge transfer has created a strong and capable team within the accounting department.

His tenure with us has witnessed the transformation of our Accounting Department, thanks in no small part to his efforts. The introduction of several KNET applications, including the Property Budget system, stands as a testament to his collaborative spirit and problem-solving abilities. His partnership with the IT Department in the development of this app streamlined our property budget processes and eliminated the need for cumbersome Excel spreadsheets, significantly improving efficiency and accuracy.

His analytical skills, knack for problem-solving, and his willingness to help others are qualities that have not gone unnoticed. Kurt is a true asset to our team and a shining example of a dedicated team player. His high degree of integrity and Commitment to our company's mission and values have been great examples of our Core Values.

We are thrilled to have had Kurt as a part of our team for the past 15 years and look forward to many more years of collaboration and success.

Once again, congratulations on reaching this impressive milestone. Wishing you continued success and fulfillment!

Emily Fletcher (2022), Property Accounting Assistant – Kurt is very good-natured, and it is fun to work with him. He is also very analytical and can quickly identify solutions.

Nancy Lewis (2021), Property Accounting Assistant – Kurt has been very helpful to me since I re-booted my accounting career with his knowledge, understanding of all things accounting, and especially his patience when I transpose journal entries. He’s on my list of top bosses ever, congratulations Kurt!!

Marilee Scheid (2019), Director of Learning and Development – Congratulations on your achievements over the past 15 years!! It’s an honor to work with you. Celebrate BIG!

Garrett Cook (2022), Property Accounting Assistant – Kurt is a wonderful Property Accounting Manager! He is kind and personable. He has impressive knowledge of accounting and is the type of leader that Empowers people to learn and grow. Though he may challenge us, he always gives us the tools we need to figure things out on our own, which I find to be a respectable trait. I personally feel that Kurt’s leadership has helped me to become not only more valuable to the company, but more valuable in my own estimations. Kurt is thoughtful and always does a great job checking in and making sure everything is going well. I have greatly appreciated his leadership during my time here at Cohen-Esrey!

Michele Rollo-Burns (2018), Director of Revenue – When I was in the Deputy Managing Director position, I leaned heavily on the Property Accountants for clarification, questions, you name it. Kurt’s knowledge and longevity with Cohen-Esrey was a huge help. Kurt and I always worked well together. There were so many times that I would need a favor, or a late reclass, etc. and he was always willing to help and pitch in. I appreciated him greatly. A great example of Commitment. Congrats on 15 years!

Connie Riley (2012), Senior Deputy Managing Director – I wanted to take a moment to share my thoughts on Kurt's interaction in his current role. It's clear that he has settled into this position and is doing well. What I find particularly endearing is his nervous giggle, which often serves as an unspoken "oh boy" comment to me. It's a charming and light-hearted aspect of his personality that adds to the positive atmosphere in our team.

Kurt's contributions have been invaluable to me and our teams. His calm and composed approach to challenges is truly noteworthy, and I greatly appreciate his support and guidance. Working alongside him has been a pleasure, and his presence adds to the overall success of our projects.

I'm grateful for the opportunity to work with Kurt and look forward to continuing our collaboration. His unique qualities and Commitment make him a valuable asset to our team.

Becky Trost (2006), CEDG Accountant – Congratulations on making it to the 15-20 Year Club! You have been a steady rock in the Accounting Department. Your willingness to share your knowledge and expertise has guided the CEC Accounting Department to new heights year-after-year. Wishing you all the best for many more successful years to come!

Kristina Viera (2017), Deputy Managing Director – I want to thank you personally for always assisting me through my growth with Cohen-Esrey and being available whenever I have needed help or guidance; you have always shown me great Team Member Fulfillment!

Congratulations on your anniversary and making it to the 15–20 Year Club! Looking forward to continuing to work with you for many years to come!

PreservingUS Delivers Community Impact

By Emily Robinson (2023), Executive Director

PreservingUS has teamed up with Kanbe’s Markets to offer free produce to residents living in Cohen-Esrey-managed affordable properties in the Kansas City area. Kanbe’s accepts produce that grocery stores have rejected. Stores will reject entire boxes of a vegetable or fruit even when only a few items are over the hill. Kanbe’s salvages the produce that is still fresh and makes it available to those in need. In September, PreservingUS delivered Kanbe’s produce to Alhaven, a newly constructed affordable property located in Kansas City, MO. The 50-unit building has 13 units reserved for people living with an HIV or AIDS diagnosis. Residents shopped for the produce throughout the day in the building’s gorgeous common area/community kitchen space. On October 6, PreservingUS brought produce to Bluejacket Lodge, a 53-unit rent-subsidized property for seniors in Shawnee, KS. Residents were lined up and waiting for PreservingUS to arrive with the food, which included mushrooms, lettuce, potatoes, plantains, and bell peppers. We eventually plan to make produce deliveries every Friday morning, rotating among affordable properties that Cohen-Esrey manages. Contact me, Emily Robinson – erobinson@preservingus.org if you’d like to get involved.

It’s Benefits Enrollment Time Again

Benefits Open Enrollment for 2024 will begin Monday, November 6 and end Sunday, November 19. The benefit providers we currently have will continue to be our providers. Over the past three years we have been successful at revamping our medical insurance plan offering to make the program more affordable for you and your families. We held rates flat in 2021, provided a substantial decrease in costs in 2022 and then kept those costs flat for 2023. For 2024 you will see a slight increase to your medical insurance premiums but, as always, we have been cognizant of making sure the plans that we offer and the costs you pay for your benefits are competitive and in line with the market. There will be no cost increase in any other benefits.

The day Open Enrollment begins, you will receive a link to a Benefit Portal to assist in making your election decisions. Everyone should enroll or waive benefits. If you don’t, the benefits you currently have will automatically rollover to 2024. If you contribute to an HSA, you will need to provide the amount you want withheld for the new year. The amount you currently have will not automatically rollover.

If you have questions prior to Open Enrollment, please contact Jennifer Turner (2018), Director of Human Resources or Gina Long (2022), HR Generalist.

Another Empowerment Story

By Karri Landers (2022), Property Manager – Marquette Hall

Karri Landers (2022), is the Property Manager at Marquette Hall in Dubuque, IA. Here is what she has to say about her Empowerment:

I recently celebrated my one-year anniversary with Cohen-Esrey, working at Marquette Hall in Dubuque, Iowa. I came here with several years of Section 8 experience and have successfully transitioned to LIHTC. Recently, I have been asked to help at other Cohen-Esrey properties, which I feel has EMPOWERED me to become a valuable member of Regional Manager Rebecca Grimm’s (2019), team. I strive to be responsible and reliable whether that be to help in the office or to turn a unit. In this business, it is a must to be flexible and to adjust to what is needed of you and your co-workers (the team), which only results in the best possible outcome. I feel like this is the ideal work environment for me, where I thrive on having the ability to resolve the challenges that arise.

The Cohen-Esrey team has helped me become successful, and not just talk about the Core Values, but actually strive to live the Core Values!

Michele Kiehl Joins Construction Technologies

Michele Kiehl, AIA, NCARB, LEED AP BD+C, has joined Construction Technologies (CT), the in-house construction management unit serving the Cohen-Esrey Development Group (CEDG). Michele earned a Bachelor of Architecture degree from Kansas State University and worked for the Kansas City architectural firm PGAV from 1993 – 2006. As a Project Manager/Project Architect, she led project teams through design and construction administration phases, and managed multiple projects including medical research facilities, casinos, and branch banks. She joined the Dallas-based engineering firm, AECOM in 2006 where she worked until 2017. She was a Senior Project Manager and led design and project coordination meetings, established project programs, and tracked owner’s decisions for projects such as a data center in Atlanta, a wellness and events center in Newark, NJ, and life care clinics and a surgery center in Kansas City. Michele also spent time at Kansas City-based HNTB as a Senior Project Manager. One of her more notable projects was the Arlington National Cemetery expansion and a new service center building in Arlington, VA. In her new role at CT, she will work with architects and contractors to deliver a multitude of affordable and workforce housing projects being developed by CEDG.

Michele has also been civic minded over the years. She is a member of the Central Exchange in Kansas City, the Leadership Lyceum Committee, the Operation Breakthrough Grapevine Committee, and a Lead to Read KC Volunteer. She lives in Fairway, KS, where she was on the Planning Commission as a commissioner, chairperson, and vice-chairperson. Michele has a daughter (Jordan) who also lives in Fairway and graduated from Kansas State. She enjoys spending time with friends and family, traveling, gardening, working on her house and training/playing with her dog Nellie, an 18-month-old Australian Labradoodle.

We know that Michele’s experience will be a difference-maker in our quest to deliver quality affordable and workforce housing across the U.S. Welcome to Cohen-Esrey, Michele!

A Collaborative Approach – Part 1

By Matt von Ende (2017), Vice-President, Acquisitions – CEAI

Cohen-Esrey Apartment Investors (CEAI) and Innovation in Motion (iiM) have a lot in common. We share team members. We collaborate on fundraising efforts. We work together on authoring quarterly and annual reports. We draw from an overlapping pool of Accredited Investors, which thus far totals 25 different investors having contributed approximately $17.60 million toward CEAI’s various funds and investment vehicles ($10.78M) and iiM’s different portfolio of start-up companies ($6.82M). Both companies are also dedicated to strategic investing as opposed to speculation, and accordingly our investment decisions are heavily rooted in deep upfront analysis. This two-part article will make clear each company’s similar reliance upon data and research, while also highlighting some of the differences in the due diligence methodologies we deploy when approaching new investment opportunities.

As a quick introduction, Innovation in Motion (iiM) is an early-stage investment firm that employs a disciplined approach to identifying, funding, and curating transformative companies within the agriculture, animal health, and human health industries. Our due diligence process includes a robust review of the startup company by our professional staff, industry experts, and later-stage investors so that we have a deep understanding of the potential upside and areas of risk for every company in which we invest.

After initial review, we conduct introductory calls with the start-up founders, which includes a thorough walk-through of the pitch materials, Q&A related to the technology and intellectual property, the product/market fit and market growth potential, the leadership team’s qualifications and background, competition with other technologies, financial projections, research and development efforts, regulatory pathway and strategy, and exit strategy i.e. how will iiM generate profit for its investors. After this call, the iiM team typically requests follow-up materials, including financial models, historical financial statements, third party contracts and agreements, market analysis, patent information, company entity organizational documents, capitalization table for current equity structure, funding information specifically the terms for this investment and prior investments, and trial and clinical study data that proves the technology works.

If these materials are compelling, the next step in our process is to invite the company to present to the iiM investor group. This meeting is conducted in person so that we are able to develop an understanding of the founder as an individual and to have a more fruitful conversation. This step also gives our investors a lens into the companies that excite us and an opportunity to speak directly to these companies. If the meeting goes well and there is clear interest in facilitating an investment into the startup, the iiM team puts together an investment memo of approximately 40 pages to be circulated to our investors highlighting all of the findings from the due diligence process.

Read Part 2 of this article in the November 6 issue of People & Properties.

Above and Beyond

By Brent Phillips (2021), Maintenance and Safety Director

As many of you know, over the past few months we have been integrating a new program called Above and Beyond Service into our daily property operations. For those of you that are unfamiliar the program consists of completing a visual inspection of the most common maintenance concerns, for that property, every time a service request is completed.

As a former on-site maintenance technician, this program holds a special place in my heart because of the many benefits we are already beginning to see from its implementation.

First, we are catching problems before they become catastrophes. For example, if you have worked on-site for any length of time you have most likely dealt with a unit that has water damage due to a clogged A-Coil drain line. When this happens the cost of water extraction and unit repairs is substantial not to mention the inconvenience to the resident of having maintenance personnel in and out of their unit for days on end. All of this would have been avoided if the drain line was being checked on a regular basis. With the Above and Beyond Service Inspection in place this issue will be caught and remedied before any collateral damage is caused thus saving the maintenance staff time and saving the property money.

Second but equally important is that this program brings our Customer Fulfillment game to a whole new level. In our Customer Fulfillment Core Value, we state that “We strive to exceed our customers’ expectations.” To me the implementation of the Above and Beyond Service Program is one of the many ways in which we at Cohen-Esrey are Empowered to walk the walk by giving our resident’s service needs a level of care and attention beyond their expectation.

It will take, perhaps, a year or more for us to be able to define the amount of time and money this program is saving each property, but the benefits to both the resident and the maintenance staff are being realized as soon as the program is implemented, and I couldn’t be more excited for it!

RenOvations: The “Better-B”

By Richard Williams (2020), Renovation Director

If you’ve ever played poker (or seen it played), a “call” is the action one takes to match the opponent’s bet. “Raising” the stakes is generally a sign of confidence that urges the other players to take a back seat. Many of us “classic country music connoisseurs” still remember that ageless poker theme song by Kenny Rogers, “You got to know when to hold ‘em, know when to fold ‘em . . .” Anyway, I digress. I’m also dating myself, as well as others, if they joined in on that song. Unlike poker, competitor upgrades are an open deck. Consequently, our forward-thinking smart home technology upgrades represent the aces strengthening our portfolio’s competitive hand. By “raising” the stakes to a “Better-B,” our area competitors’ edge (you guessed it) “folds.”

Injecting smart home technology into our interior upgrade mix transforms the regularities of “Best-B” resident living into a “Better-B” experience. Today, smart home technology is a magnetic amenity. Not only does it elevate the resident experience, but it also unbridles significant workflow efficiencies for both contractors and property staff alike. Smart home technology, sometimes referred to as “IoT” (or the “Internet of Things”), is one of the elements fueling the innovative pace of possibilities. Ultimately, this addition makes “best” . . . much “better.”

Over a year ago, after extensive vetting, we engaged SmartRent (an IoT industry leader) as our preferred provider. Capitalizing on that industry expertise, we “called and “raised’ the stakes on our Live Oak, TX area competition by taking Loretto at Creekside from “traditional” to “smart” in 2022; thus, making it Cohen-Esrey’s first “integrated” smart home property.

“Integrated” meaning all smart technology and capabilities can be engaged using the asset’s property management system. Ultimately, a SmartRent-enabled “smart home” optimizes the modern living experience. At the same time, it creates an additional revenue stream, enables significant cost-controls, unleashes untapped operating efficiencies and preventative maintenance opportunities. Just to name a few, this digital access ability accelerates contractor flow, maintenance responsiveness and vacant climate control. With “integrated smart home” technology, a property takes a huge leap forward in preventive maintenance. For example, it can harness the ability to detect and arrest water intrusion proactively versus reactively. Those examples merely scratch the surface of property benefits.

Park Edge (Lenexa, KS) is moving into position to be our second asset preparing to reap the “smart” benefits of IoT. Rollout will be completed between late October and early November. In addition to Loretto at Creekside and Park Edge, we diversly have two properties – the Carlyle (Shawnee, KS) and the Preserve at Westover Hills (San Antonio, TX) currently utilizing non-integrated IoT smart tech.

“Non-integrated” simply means that the technology is not centrally controlled. Although the deliverables are many steps above related traditional amenities, “non-integrated” smart tech does not enable the higher level of cost-control and preventative maintenance efficiencies. Those characteristics are unique to “fully integrated” smart home properties. Including IoT initiatives being advanced through the Cohen-Esrey Development Group (CEDG), Cohen-Esrey’s IoT-enabled portfolio plans went from one (this time last year) to eight and counting today. Stay tuned for more.

Commitment Awards

Kimberly Plumb (2020), Property Manager from Northwoods Apartments, was recognized at the Cohen-Esrey Leadership Conference as a 2022 Commitment Award winner. Here is what was said about her during the presentation ceremony:

This Team member has been with us since 2020 and has advanced from a Leasing Agent to an Assistant PM to most recently a PM. This team member has transferred to different communities within the portfolio during these promotions. She has been instrumental in the closing and off-boarding of sites, stabilizing sites – getting and staying compliant with certifications and compliance reporting requirements. Every time the team member is given a task, some of quite a tall order, she immediately starts out with writing out her plan, passing it on to the appropriate leaders for approval, revisions and she starts working on her plan. If she notices the plan is not working or falling short of hitting the deadline set, she is always proactive in communication with leaders, to revise her plan to achieve success. Team Member made a commitment to obtaining her COS designation and successfully completed the course and passed the exam to achieve the designation in 2022.

Lisa Sorensen (2019), Development Director from Cohen-Esrey Development Group, was recognized at the Cohen-Esrey Leadership Conference as a 2022 Commitment Award winner. Here is what was said about her during the presentation ceremony:

This Team Member has navigated multiple projects through a complex 2022 with construction cost escalations and higher interest rates. She’s held our lenders and investors accountable for their commitments in getting our projects closed, including working with the state of Colorado to obtain $3MM in additional funds for Panorama Heights. She has also served as an intermediary to negotiate a compromise between a bank and a state agency that were previously unwilling to talk to each other. She is exceptionally committed to doing whatever is necessary to make sure that her deals succeed. This Commitment Award goes to Lisa Sorensen.

Karen Crouch (2019), Director of Customer Fulfillment from Corporate, was recognized at the Cohen-Esrey Leadership Conference as a 2022 Commitment Award winner. Here is what was said about her during the presentation ceremony:

This team member embodies the core value of Commitment. Starting with Cohen-Esrey in 2019, this individual entered our organization with NO real estate experience. What they did have was extensive experience in how to handle customers. Taking on a completely new position and area of the organization, we quickly discovered how vast the core value of Customer Fulfillment touches. This person has taken this on head on, creating content that is applicable to all areas of our operation. Let’s talk Commitment. She has taken on the training apparatus of our entire portfolio, including Onesite, she has taken on the management of our corporate headquarters, and now has lately taken on oversight of office management of the headquarters. With a current NPS score of +38 and rising, her Commitment to the craft of Customer Fulfillment is unmatched. Our Commitment award goes to Karen Crouch.

Calling All Tipsters!

In our Calling All Tipsters series we offer a subject and ask all team members to give their advice, tips, or experiences that may prove helpful to other team members. Here are answers to our final question.

What is the best demonstration of Commitment you’ve ever seen at Cohen-Esrey?

Thanks to everyone who responded to this critical question. We have some great thoughts for you.

My time at Cohen-Esrey has not been long as I started in May, but to answer your question the best demonstration of Commitment I personally have seen is from my Property Manager Amanda Zepeda (2023). Amanda and I both started at Jefferson on the Lake in May of 2023. Every single day she always shows up to work with a good attitude and eager to work. Around August, Amanda was asked to help at another property that was short staffed. She was asked to schedule vendors, walk units, go to the property and work in the office, and help residents, and so much more.

In addition to of helping at the other property Amanda was still able to manage Jefferson on the Lake, and if we ever ran into any problems she would always do her best to help us immediately. She never complained once and worked super hard on both properties and was able to help both properties grow. For those reasons Amanda Zepeda has shown the best Commitment I have seen.

Brennon Bailey, Assistant Property Manager, Jefferson on the Lake

Cynthia Johnson (2016), Property Manager at Justin Place has an amazing level of Commitment to her property and her residents. Have seen improvement to the property under her leadership and with that property it takes a lot of Commitment to accomplish that.

Cameron Sasnett (2019), Assistant Superintendent, Nexus 5 Group

As I read your question the first thing that came to my mind was Cassie Colston (2004), Assistant Vice-President and Regional Manager. I am sure that is not a surprise to you.

She has demonstrated her Commitment through her willingness to show leadership not only to her own team, but to anyone within the company. For me personally she has been available to answer my questions related to Section 8 guidelines (as I did not have that experience); she has assisted me in navigating shared files to find information, and she is a peer I can rely on to bounce ideas off. She is a strong support for our Compliance Department, when they have not been able to answer questions – Cassie is who they will reach out to for guidance. At no time have I ever seen her express that she has too much going on to assist others. She keeps a positive attitude and wants to find a solution to ensure everyone is successful.

I know I could give many other examples; when I think of Commitment to a company, I think of those that want to see everyone be successful, not just themselves.

Dawn Boyer (2022), Regional Manager, Cohen-Esrey Communities

I have only been with Nexus 5 for almost four weeks now, so I haven’t had a lot of experience with everyone in the business, but in the four weeks I have been here I have noticed a level of Commitment to teamwork that I haven’t seen in a long time at a company. From the top down every day, I see people focused on making everyone else successful by taking time out of there day to help and explain things. I have seen problem solving sessions and training sessions focused on working through the challenges that a difficult economy brings to all businesses, helping each person not feel like they are on an island trying to survive but a part of a community working for the best of everyone. This show of Commitment not only to the business but the individual success of each person a part of that business is the best demonstration of Commitment to teamwork I have seen in a while.

Ryan Hazen (2023), Project Engineer, Nexus 5 Group

The attached picture is of Delon Mitchell (2023), Lead Maintenance Technician, in the pool at Andover Park. He is in the pool because when the pool inspector checked one of the main drains the cover came completely off. If had not been repaired before the end of the day the pool would not be able to be open for the holiday! Delon did not hesitate to literally “jump in” and get to work and in doing so, he ensured that the residents at Andover Park would not have their Memorial Day plans ruined. This was an awesome example of Above and Beyond Service by one of our team members.

Brent Phillips (2021), Maintenance and Safety Director, Cohen-Esrey Communities

When I think of Commitment I think of Jessica Bell (2014). Jessica is the Senior Project Engineer at Nexus 5 Group. Her Commitment to this team is unparalleled. She works with the four Project Engineers on various duties such as: managing and training and helping assist them with various duties.

When Jess is not working with the Nexus 5 Project Engineers. she is making trips to Costco to make sure the team has snacks; she plans events; and helps Division Manager Josh McDonald (2018) on budgets for jobs. She is also working to modify processes for the Service Department to improve efficiency; orders Nexus 5 Group merchandise; organizes activities for the Social Committee, and orders office supplies just to name a few of her extra duties. Jess is an absolute ROCK STAR on the Nexus 5 Group side. We are very lucky to have her on this team.

Sarah Dawson (2021), Accounts Receivable Specialist, Nexus 5 Group

The most notable example of Commitment that comes to mind is an experience with Michael Gioia (2020), Senior Property Accountant. This relates to our successful closure of the Loretto at Creekside loan with HUD. This was a complex undertaking with numerous restrictions and benchmarks that had to be met in order to satisfy multiple reporting requirements.

What truly stood out was Michael's unwavering Commitment throughout this process. He consistently and diligently communicated with our management team on a weekly basis. His discussions covered a range of crucial aspects, including payables, deposits, and the careful monitoring of reserves. Notably, this all unfolded while we were simultaneously embarking on extensive renovations.

After six months of rigorous reporting, the HUD representative assigned to our property reviewed the October 2022 financial package, as well as the MARs reporting requirement. The result was highly rewarding: we were released from any further reporting requirements with HUD.

This accomplishment speaks volumes about Michael's Commitment and the exceptional results he achieved. It's a testament to his ability to navigate complex financial and reporting demands effectively. His Commitment in this endeavor is truly inspiring and showcases his invaluable contribution to our team and organization.

Below is the email from HUD:

Good morning, Michael,

I have finished my review of your October report. Occupancy stayed at 97%, there was positive net cash flow and no compliance issues, so HUD will no longer require these reports at this time. Remember, they can always be required again if something happens, but right now, you guys are doing a great job.

Thank you for working with me on these and submitting very nice reports and giving me heads up about things I would find. I so appreciate that - you’ve made my job much easier.

Michael’s Commitment to completing this requirement truly shines through. His Commitment to the quality of his work, consistent communication with our teams, and his unwavering determination to see this through within a mere six months is highly commendable. We deeply appreciate his Commitment in every aspect of his work and the way he collaborates with the management team. His efforts have not only brought success but have also been an inspiration to us all.

Connie Riley (2012), Senior Deputy Managing Director, Cohen-Esrey Communities

The best demonstration of Commitment I seen was when, Cohen-Esrey team traveled to the North Carolina properties to help us out with our recertification, not just one person came and took time from their families and their obligations, but four more people did as well. I really appreciate it, because they didn't have to volunteer time away from their own properties. Cohen-Esrey is like my second family away from home.

Whitney Fulwood (2022), Property Manager, Big Chair Lofts

The best demonstration of Commitment that I have witnessed is the Property Manager at Jefferson on the Lake. Amanda Zepeda (2023) came to us from Greystar which is the last company I worked for prior to Cohen-Esrey purchasing Brighton Creek. Although I never personally worked with her in my eight-year tenure there, it is my understanding that she is amazing, has no limits in her abilities and NO is not in her vocabulary. She is the epitome of Commitment, customer satisfaction and Team Member Fulfillment wrapped into one amazing human!

Since joining Cohen-Esrey on May 1, 2023, she has been on call 24 hours a day since day one of service while short staffed in her own office. This does fall under multiple core values. When the Property Manager left at Perry 81, she began taking 24-hour on-call for this community as well as her own. While not having a Lead Maintenance Technician this summer, she assisted on site at Jefferson on the Lake and personally helped install multiple air conditioning units. She is a BEAST. Her Commitment has no limits.

Her Commitment Empowers Me to Thrive and be a better manager in my role at Brighton Creek.

Kudos to Amanda!

Laureen Woods (2022), Property Manager, Brighton Creek

NPS Leaderboards

The three NPS Leaderboards have been updated as of October 20, 2023, and there has been one change from the previous month. In the 50-Units or Less category Orchard View (Farmington, MO) is the new leader with a score of +92.59. In the Properties 51 to 120-Units category, Orchard View (Farmington, MO) remains number one with an NPS of +95.24. And in the Properties of More than 120-Units category, The Boulevard (Springfield, IL), sits on top with an NPS of +91.30. There are 38 properties on Leaderboards – three less than last month, and there are four properties on Leaderboards with an NPS of +90 or higher. They include Orchard View, Orchard View II, The Boulevard, and Mills Crossing.

We continue to recognize those properties with a Maintenance Survey NPS that is equal to or exceeds our Overall NPS of +39. 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 25 properties this month, one more than in September.

Maintenance Ticket Surveys