And began to build that team, which has been a great add to the organization. Contact Us Address Cortland Properties, Inc. 7612 W. North Avenue Elmwood Park, IL 60707 Phone Phone: (708) 452-4242 Fax: (708) 452-4122 . As a result as an industry we didn't have a lot of investment in doing it better, we had a product, system and people, etc., but we did see that that clientele was likely going to be changing coming out of the GFC. Since its founding in 2005 Cortland has expanded into a global, vertically integrated, multifamily real estate investment, development, and asset management company. 2849 N. Orchard . 2404-14 W. Cortland. I have witnesses to confirm these actions. Id like to think and Brad Brown, my acquisitions chief swears we've never paid more than somebody else for a property. Steven DeFrancis: Well, we had a lot of learnings along the way. Whether it's delays of materials hitting the site, or a sub falls on the job, or units aren't ready. 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. Willy Walker: You talk about the people at Cortland, and Im privileged to know a lot of them, and Ive been to Mercedes Benz field to watch your team compete in a karaoke band competition, and that was actually quite something to watch. So, thank you Steven, very much for taking the time. You go through a talent selection process that is, I would put forth, more rigorous and more focused than many companies that I interact with on a consistent basis. This is a multi-location business. Before I introduce Steven and dive into our discussion, I want to thank Mike Altman, David Dixon, Brad Brown, Ned Stiker and the other members of the Cortland team for all they have done to make Cortland the amazing company and partner it is. After digging into that a fair amount, we realized that there was really very little, you know as an industry, we pay very little respect to the folks who are turning wrenches if you will. 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. Cortland Headquarters and Locations - Learn more about Cortland's locations by map by and/or jobs. There's huge value in that and this is just one example where that scale just creates a ton of value. Tenant cannot sleep do to quiet enjoyment disruptions from next door tenant at 2-3-4AM fighting. 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. Say yes to a career you love. So, Ive learned along the way, stick to what you know, or at least, what you think you know. This office is the major Cortland Dallas, TX area location. Therere expectations from our consumer and our customers that are more and more unique, so we need more specialized human capital. But thankfully there's so much opportunity, as you know, within multifamily in the markets we're in. Willy Walker: One of the things that you talked about standardization in the sense of the experience from a client standpoint. Cabinets, counters, tile, light fixtures, plumbing fixtures, flooring rob hooks, doorknobs, peep holes, you name it. 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. Cortland's team is comprised of people committed to challenging the standards of conventional apartment living. I can't even remember a single story where we were like oh, my goodness, I can't believe we let them do that look and what they did. I can think of many stories where they did the right thing for the right reason because they were empowered to go do it through decisions and checkbook. 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. More > Healthcare & Supportive Services 201 Jobs. 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. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. Links. Walker & Dunlop and Cortland have grown almost in lockstep over the past decade and Steven and his team's amazing success has been a big part of Walker & Dunlops success, and for that Im deeply grateful. Through our integrated business model, our enterprising team, and our commitment to placing the resident at the center of our decisions, were aiming to set a new experience standard for the apartment industry one community at a time. 54:41 - What is the best and worst leading today versus earlier in the companys life? Or as you get bigger and bigger do you have the ability to sort of centrally manage everything and be able to have one or two assets in a given market and just be happy that you're in, Ill just pick a market, Charlotte, North Carolina with one or two assets, even though you might not be a top five owner in Charlotte? Cortland is a great company though the staff is at is worst iv witnessed racial slurs derogatory comments about residents they fine them for smoking when they vape in the office and smoke on property knowingly its a no smoking property. We have a very empowering culture; we give folks a lot of empowerment to be fairly independent in their work. Laramar is a national property management company offering apartments for rent nationwide. We talked a lot about how we're going to make mistakes and that's okay, just try not to make them more than two or three times each. See All 79 interviews. 18021 Kingsland Blvd, Houston , TX 77094 Cinco Ranch. Hiring. 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. It took us a while to really start rolling out the brand. That took tons of friction out of the process of getting the projects done and executed, but then, even more importantly, when you moved operations, as long as you take care of the people, they'll take care of your customers. And then, use a good strong local team that can take that data and take what they know about what's going on in every part of their market, every day, it just allows us to be better at choosing where to lean into what we're offering versus throwing a dart at a board and hoping that this deal works. Cortland is a product-to-people, multifamily real estate investment, development, and management company that in-sources most of its multifamily development, design, construction, renovation, management, and ownership functions - all with the goal of providing residents excellent, hospitality-driven living experiences. And as I look at Cortland now a decade after you really started hitting this growth trajectory, for all of the incredible brand youve built, customer experience you've built, vertically integrated sourcing youve built, and the actual App rehab process, you've also created a capital formation machine that is, there are parallels to it like a Blackstone. Neither one had ever been there, had no idea what they're getting into but we're going to go figure this out. BBB reports on known marketplace practices. I loved it 10 years ago, it was fun every day. A lot of it also isn't just about intellect, there's a lot of great people who maybe want something different out of their career than a different set of people. | Cortland is a product-to-people . But talk about two pieces of the equation as it relates to what it is to be on the team at Cortland. We could have never done that if we had done each of those with a host of external vendor relationships as opposed to a team internally that worked on everything. We hope the information will help you find an . $1,200 - $2,050. I have strong belief that if we continue to perform for the capital, they're going to find us. 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. When you go stay at a Marriott versus a Hyatt or whatever else. 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. As a matter of policy, BBB does not endorse any product, service or business. 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. A spokesperson for. In general, I always feel appreciated, I always feel I can speak my mind, and I always feel like I am growing. It's going to be a real kick for me to have Dr. Kotter on the webcast as he was my leadership Professor back at HBS in 1994 which is dating both Dr. Kotter as well as myself. Featured Communities Florida AXIS Delray Beach Florida Bainbridge at Westshore Marina Florida Cortland Legacy | Dallas Area Corporate Housing Cortland Legacy 1 or 2 Bedroom Apartments 603 - 1689 SQ FT (approx.) Key Principal: Ashley Gordon See more contacts Industry: Apartment building operators. Willy Walker: You talked about brand and the customer experience. Cortland Legacy is a short distance from incredible shopping, dynamic entertainment and several outstanding sporting venues. Not everybody can afford to move into a brand-new high-rise apartment. University of Georgias Terry College of Business, Atlanta Neighborhood Development Partnership, National Multifamily Housing Council top 50 owner and manager, 7501 Wisconsin Avenue, Suite 1200E, Bethesda, Maryland 20814. Then all the investment you put into that lead, your associate is like well, thank you very much for your interest, but we cant help you and call us next year when you need an apartment again. Website. But there are few who've been able to create the capital formation capabilities that you have at Cortland. 10:19 - What about the companys change led to insourcing? 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. 10 free leads on us . Within 50 Miles of Cortland 5550. So, it was a combination of having product on hand, rushing product into manufacturer soon as the plants reopened in Asia. But we felt that there was an enormous opportunity that we could capitalize on if we really pivoted the whole business to focus on our customer as the true client. We are one of the largest multifamily firms in the US, the Top Brand Performer for online reputation among property management companies(Reputation.com, 2022), and aGreat Place to Work-Certified Company(2022). Cortland County is a great place to live. As a top 50 apartment owner and operator, Cortland has a brand and reputation of success and customer service. Like one or two percent of the total supply. Hopefully, he won't be too critical of my leadership style during our discussion in a couple weeks. 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. Cortland is a National Multifamily Housing Council top 50 owner and manager and is ranked as the top us brand by reputation.com. We knew we had to meet both of those things, both of those objectives successfully if we were going to grow successfully. You had folks who lived in multifamily after college, the newly divorced, newly unemployed, newly moved to a new city, newly graduated, usually it was a short-term stint, it was a transitional period in most folks lives, and largely if you think about it most folks lived in an apartment until the very first point, they could afford not to. 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. A focus on stripping out costs to be vertically integrated to allow you to scale from 5,000 units up to today over 65,000 units. So, I won't say we won't ever do something different, but we're not looking at something today. 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. Our ability in markets where we have 20 or 30 assets in a given market, the way SEO and search works just having everything branded with a similar name really helps drive search straight to our website and straight to our product, our locations. (972) 895-6650. It's just not something people want to deal with, but it's necessary. International Association of Better Business Bureaus. What was the impact, going to be from the meltdown of a single-family mortgage crisis? Steven DeFrancis: Sure, and you make a good point, especially back then. Cortland developed an associate-first culture, which is needed for excellence in customer service. How BBB Processes Complaints and Reviews. Atlanta, GA 30326-2818. 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. I think if we're really going to outperform in the new environment of multifamily going forward, that's the part where you got to be best. Apartment Services. This long-term vision, in turn, drove all areas of the business, from hiring to design. 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. They thought it was nuts to spend that much money on a renovation of an existing project. Need to find a different location? 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. 51:39 - Will Cortlands main focus going forward be service or capital? Cortland is a National Multifamily Housing Council top 50 owner and manager, and was ranked as a top US brand by Reputation.com. So, Cortland decided to provide consistently high-quality living spaces at affordable costs. . Learn more about Cortland. 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 110 Main St, Cortland, New York, 13045, United States (607) 756-5665. Faqs. Customer Reviews are not used in the calculation of BBB Rating. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. Cortland has processes in place to provide a high level of standardization across its business; this allows, for instance, residents to count on a certain standard of fit and finish across properties, and property managers to easily transfer between locations. We get an enormous amount of people who move from one city to the next and just call in straight through the office to find out what's available if they're moving from Atlanta to Dallas or Phoenix to Florida. 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. If you look at Atlanta, you mentioned we're number one owner, number one owner in Dallas, in both of those markets were the number one owner and were mere basis points of the total. Sandy Springs , GA 30342. Find the Cortland Dallas address. Resale Documents. How can we help you? And part of being able to focus on that was stripping costs out and being vertically integrated. Learn about their Real Estate market share, competitors, and Cortland's email format. By controlling that process, you now could control the quality of the product, and the difference in a really high-quality fixture versus the lowest builder grade stuff we were used to seeing it was literally single percent cost difference because you spent so much of the landed cost in the US went to logistics and shipping the amount of cost that went into the actual product is really pretty small. Thu: 9am - 5pm. We offer positions as builders, designers, engineers, analysts, experience curators, and everything in between. 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. Willy Walker: And in most of your markets Steven, you are a top five owner. Monthly Rent. So, we just said okay, well we've done a lot of other things ourselves, we'll figure this one out too. Browse jobs and read about the Cortland Dallas location with content posted anonymously by Cortland employees in Dallas, TX. 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. Thanks, and have a great day. Those learnings really were helpful because there were times over the last 10 years where we would have 10 or 15 pretty major development or renovation projects and these renovations where 20, 30, 40 thousand dollars a unit. Loading. It doesn't have to be brand new. So, what we began to do is say okay let's take those learnings and really pivot the platform to focus on this new environment where the client or our customer needs to be at the center of everything we do. So, talk about a kick to the pride; I couldn't even pay them to represent us. It must be really fun these days to sit down with LPs who are basically throwing money at you. Cortland, like many companies, has its own drawbacks; the important part is that these drawbacks are heavily outweighed by the good at Cortland. Is that correct? (855) 231-0937. As it relates to the first part of your question, the fit and finish side and for our customers. Steven DeFrancis: At this time, we haven't thought about expanding beyond housing. (36) Military Housing (0) Corporate Housing (0) Move-In Date More Save Search Sort Beds. Houston, Texas Office. 1 Week Ago. A lot of effort on the front end around considering talent before bringing them in and then a lot of focus on supporting our talent once they're here. Because it just takes so many people to do it well. The market today is as white hot as we've ever seen it Steven you know that very well. Get to know the Cortland businesses that build, design, and deliver the spaces we create. We learned five or six years ago, we sort of realized that we weren't seeing the same passion, if you will, in our maintenance and facilities teams as we were seeing on the other, the leasing and operations side of the house. The training that you've given them is sort of applicable across the Cortland platform. At least we were all one team. Five years ago, I knew every single person who worked here and could walk up and have a conversation and whatnot and knew them. Our Company Our Company Our Story . Back when we got started really doing this heavy value add, no investor wanted to do it. We are the dreamers, designers, and doers behind our living spaces and experiences, from the way we make our residents smile to the features we design and place in our homes. Willy Walker: And is that, given the supply chain issues going on today are those relationships and controlling that process a competitive advantage right now at this time in the cycle, given the pandemic and how backed up supply chains are? As a leader in the multifamily industry, we create resident-centric, hospitality-driven living spaces and experiences across the US. The vision also prompted a focus on brand. We all met in the same bar after work to figure out what we did wrong that day. Cortland Design is our in-house, award-winning interior design and architecture firm. Work really well for a few jobs and then all of a sudden, the stuff was delivering more and more slowly and then that guy disappeared. Email this Business. You have all these vendors working on every project, and so, instead of having an assembly line of work, it's more like you're building each one on a bespoke basis with the project at the center and all of these vendors attached to it, like the petal to a flower. Our goal is to deliver communities, experiences, and solutions beyond expectations down to the smallest details of our everyday interactions to the standards by which we live and build. Willy Walker: It makes two of us, it makes two of us. At that point coming out of the downturn, you are looking at between the 01 recession, the focus on the single family and then the GFC you are looking at over a decade of under development of multifamily. Please select one of the markets below to refine your search. Historically in our business, groups would generally try to outsource as much of the business as possible. Now I do try to get out as much as I can and meet all the folks across the system, but I do miss the that small family feel where you got to know everybody and that was a big part of the excitement of coming to work every day. But I want to go back to 2010 when you owned, I think 1,200 units and had a whopping eight people inside of Cortland or just the next year when you'd actually grown dramatically from 1,200 units to 5,000 units. Cortland Engaged Employer Overview 569 Reviews 120 Jobs 913 Salaries 80 Interviews 179 Benefits 91 Photos 164 Diversity + Add a Review Updated Feb 23, 2023 Find Reviews Clear All English Filter Found 548 of over 569 reviews Sort Popular Popular COVID-19 Related Highest Rating Lowest Rating Most Recent Oldest First 3.7 68 % Nearby Apartments. Frankly, historically, most people in the C suite of these businesses deign to get that operational stuff on their shoe. During the economic downturn in 2008, we decided to shift our focus from developing communities to acquiring and renovating existing multifamily communities all with a vision to challenge the conventions of the traditional multifamily industry through better living spaces and experiences. So, it barely moved the needle to go from really low grade to really high grade. And then, all of those calls come into a central location. 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. Steven DeFrancis: We do have a great capital team, Ned, you mentioned Chris Lennon. So, lot of room to grow in the business that we're doing. 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