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. 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. Need to find a different location? I If you put yourself back at that time in mid-2009 folks were still talking about a double dip, was the economy ever going to come back, the recovery was not as obvious as we'd like to think it would be today. What's your view on the overall market right now as it relates to sort of supply and demand and where pricing is and the ability to continue to get the returns that Cortland has been so successful at producing? Say yes to a career you love. As it drug on and we got into the middle of 2009 and we had been playing defense for two years, at that point, we decided to do a pretty significant research project to try to, the goal was to try to determine where the market was going. Frankly, historically, most people in the C suite of these businesses deign to get that operational stuff on their shoe. In a market like Dallas or Atlanta or any of the markets were in, we don't need to be top one or five, but we'd like to have line of site to 4000 or 5000 plus units because it allows us to first, invest in better top notch human capital, because we have the scale to support it. See All 79 interviews. Whether it was marketing or sales or pest control or landscaping all these services you could buy on a per unit basis, but at the end of the day it was really efficient from an execution standpoint, but it was really inefficient from a customer service standpoint, because now effectively, you were handing over that relationship with your customers to this whole cadre of third-party vendors, which inevitably, as you can imagine, just lead to really poor service and poor execution. Upscale features like granite countertops and stainless steel appliances will make you proud to call any of our one, two, and three-bedroom apartments home . I have witnesses to confirm these actions. That allows us to underwrite a huge volume of potential opportunities, it's really inefficient. Cortland developed an associate-first culture, which is needed for excellence in customer service. Please reach out to me directly at 214.496.0727, or email me at mary.stevens@cortland.com. Team Members. Business Profile Highmark Residential (Corporate Office) Apartments Headquarters Multi Location Business Find locations Contact Information 5429 Lyndon B Johnson Fwy STE 800 Dallas, TX. He is a member of the Buckhead Coalition and serves on the board of the Atlanta Neighborhood Development Partnership. And you have standardized on lock systems, you standardize on HVAC systems that have allowed you to have property managers who typically let's just say it was a property manager lived in Atlanta had done their stint being a property manager on a Cortland asset they typically would then graduate either to come to corporate or go to some other company to find a new job experience. What did Steven and his colleagues see, Willy wonders, that led to the shift? Looking for furniture for your home office? 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. Faqs. That to me, Steven, is sort of where the genius happened, and I just want to understand during that period of time what was it that you were seeing, what was the conviction that you had to invest in those two different areas? Choose from one of the three topics below to let us know what we can do for you today, and we'll reply as soon as possible. 4:42 - What led Cortland to shift? Speaking of life lessons, we have Bob Glazer renowned TED talk speaker and Acceleration Partner Founder joining us next week. Steven earned his bachelor's degree in real estate from University of Georgia, Terry College of Business. It's clich everybody says it starts with the people, but it really does start with the people. 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. Willy Walker: So, in hindsight, and now that you've got huge scale and a big brand and incredibly successful that all makes perfect sense. Internationally, we operate a build-to-rent (BTR) management and development platform in the UK. 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. Apartment Services. Find Related Places. But talk about two pieces of the equation as it relates to what it is to be on the team at Cortland. Cortland competes beyond price to deliver exceptional value.Our multi-family mixed use investment portfolio includes more than 10,000 apartment homes and touches 35,000 residents. We did it because that was the capital that was available. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. Links. Hopefully, he won't be too critical of my leadership style during our discussion in a couple weeks. By 2011, we owned and managed 5,000 apartment homes and meaningfully accelerated our plans to build a company that could deliver unique value to both our residents and partners. Pay Online. 5470 Glenridge Dr NE. Our Company Our Company Our Story . - 8/28/2019 Hey Hannah! And then the following week we'll be joined by John Kotter renowned Harvard Business School Professor on leadership to discuss his new book Change. 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. That team actually started whenNed joined us a number of years ago, but then as we really wanted to grow in the fund business, we talked to a number of groups, number of placement agents and really how we ended up building an internal team is all the placement agents we talked to were in complete agreement that there was no need for another multifamily manager. The company employs more than 2,000 associates; it also owns and manages over 65,000 units, with a pipeline that will push this number to over 70,000 by the end of the year. 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. Browse jobs and read about the Cortland Dallas location with content posted anonymously by Cortland employees in Dallas, TX. Cortland Corporate Headquarters and Office Locations. Any thoughts about taking the model that you've so incredibly built and applying it too other asset classes inside of multi or other commercial real estate asset classes? BBB is here to help. Cortland was founded in 2005 with a focus on multifamily development in Atlanta. As you know, Willy, from your business you've done a great job with this. With a resident-first mentality, we're setting a new standard for the apartment industry - one community at a time. All these different things that you have to line up when you have no control over your capital. Great leadership, innovation, and corporate culture. Once you got the team right was the first piece, and then the next piece we're starting to standardize training process. While the recruitment process is rigorous, it yields a workforce well suited to particular jobs. So those two things kind of had to come together to create that better client experience. Key Principal: Ashley Gordon See more contacts Industry: Apartment building operators. 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. Steven DeFrancis is the founder and CEO of Cortland. Cortland is a National Multifamily Housing Council top 50 owner and manager, and was ranked as a top US brand by Reputation.com. Not everybody can afford to move into a brand-new high-rise apartment. 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. Cortland sets a new standard for better apartment living in Europe. There are one million things a day that can go wrong and generally, most of them will. Contact Us GET IN TOUCH WITH GREYSTAR We're pleased you're interested in reaching out to us. Get a great Cortland, NY rental on Apartments.com! Please select one of the markets below to refine your search. We hope the information will help you find an . Right now, as the pandemic has been waning, it is a very competitive market. Im assuming you had to get market returns for your LPs, but your GP return dragged as you were investing in the business. This is an overview of the Cortland Dallas campus or office location. So, Cortland decided to provide consistently high-quality living spaces at affordable costs. 110 Main St, Cortland, New York, 13045, United States (607) 756-5665. Cortland is a National Multifamily Housing Council top 50 owner and manager and is ranked as the top us brand by reputation.com. Monthly Rent. Cortland Legacy | Dallas Area Corporate Housing Cortland Legacy 1 or 2 Bedroom Apartments 603 - 1689 SQ FT (approx.) 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. Since then, weve become a global, integrated multifamily investment, development, and management firm focused on delivering resident-centric, hospitality-driven apartment living experiences. Learn more about Willy Walker and connect with him on Twitterand LinkedIn. Most of the places where Ive made mistakes are when I tried to do something that wasn't housing. You can then attract higher quality folks. Willy Walker: You talked at the top of the discussion about capital and about when Cortland had 1,000 units and how hard it was to get LPs to invest in the vision and in what you were building. 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. Learn more about Cortland. (36) Military Housing (0) Corporate Housing (0) Move-In Date More Save Search Sort Beds. What's the best part of that? So much of it is about putting people in the right seat on the bus. The vision also prompted a focus on brand. 1160 Johnson Ferry Rd NE. 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. And then create a better living experience which would create more demand at our assets and eventually lead to better returns for our investors. Contact Information. In part, the Cortland brand developed naturally through the companys consistency of assets; however, the company has also intentionally worked on its brand in order to create passion among human capital and help with marketing. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. We are Bainbridge We manage, develop, and invest in apartment communities that are complete experiences, where people are free to pursue better lives. It is anchored in providing a beautiful yet affordable living environment and an enriched lifestyle to its residents. Five years ago, I knew every single person who worked here and could walk up and have a conversation and whatnot and knew them. Use our search filters to browse all 100 apartments and score your perfect place! Willy Walker: So, given the competitiveness for LP Investments and capital out there, in those early days when you were going and buying properties, you were obviously in a very competitive market, you're paying market prices for assets, you're investing in not only the asset but also all the infrastructure at Cortland. Cortland Design is our in-house, award-winning interior design and architecture firm. It tends to grow on itself so once you start with a small nucleus of really high-quality people, they attract higher quality people who want to work with them. We then were able to start investing in those folks, training them better, creating better career pathways so they didn't feel like they were just going to be the service manager of location 22 forever which then creates more energy, as you can imagine, within that group. But is it fundamental to your business strategy to gain those economies of scale in a given city? And then, in the middle of September Im going to do my first live Walker Webcast interviewing with Eric Resnick CEO of KSL Partners to discuss the hospitality and leisure industries as KSL owns lots of hotels, resorts, and ski areas. Cortland contact info: Phone number: (404) 965-3988 Website: www.cortland.com What does Cortland do? 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. Did you focus on that at all? Then the second piece is once they get in you've created a culture at Cortland that is very unique. 35:11 - Willy asks about the move to being vertically integrated. Cortland Locations. 28:46 - Cortland maintains a high level of standardization. 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. It took us a while to really start rolling out the brand. So, talk about a kick to the pride; I couldn't even pay them to represent us. Resident Questions Cortland turned to insourcing, too, to control all touchpoints with customers. Steven DeFrancis: Sure, well first thank you for having me, glad to be here. 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. 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. There's huge value in that and this is just one example where that scale just creates a ton of value. He is also a member of the Real Estate Roundtable, the Urban Land Institute, and the National Multifamily Housing Council. As the conversation gets underway, Willy looks back to the founding of Cortland as a small development firm focused locally on Atlanta, noting that the company shifted its approach during the financial crisis of the 2000s. They are then sent to a warehouse where the products are broken down and rearranged by project and unit. As a matter of policy, BBB does not endorse any product, service or business. We offer positions as builders, designers, engineers, analysts, experience curators, and everything in between. Visit Website. Willy Walker: One of the things that you talked about standardization in the sense of the experience from a client standpoint. What was the impact, going to be from the meltdown of a single-family mortgage crisis? Like most other groups in our industry, we went into the downturn, the great financial crisis and late 07, and we thought it would be fairly short lived. The market today is as white hot as we've ever seen it Steven you know that very well. We offer positions as builders, designers, engineers, analysts, experience curators, and everything in between. A lot of the things we talked about today and the differences between us and maybe some of our competitors is, we really look at the business as a consumer facing operating business that happens to need capital as opposed to a capital business that happens to somewhere down the hall have some property operations. You just raised your fifth closed end fund. So to your point looking at all the ships on the board, we didn't make the ships move any faster, but at least we now had consistent information about when they were going to get to the port in LA or the port in Florida. 2404-14 W. Cortland. And we put almost no focus on the team that actually keeps our existing customers there, which is you know in business is the exact opposite way to maximize your bottom line. See if Cortland is hiring near you. Steven DeFrancis: We felt the brand was very important. 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. 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. But that because of the nature of multifamily someone doesn't arrive somewhere and say Ive got to go find a Cortland asset to live in when they move from Atlanta to Dallas, and I think you've actually proved that wrong. Technologies. Senior Lifestyle Corporation 55 2.8 Write a review Snapshot Why Join Us 558 Reviews 143 Jobs 1.4K Salaries 104 Q&A Interviews 14 Photos Want to work here? 2834-38 N. Orchard. Answer Question. Fill out the form or view our office locations and phone numbers to get in contact with us today. 1-3 Br $1,434-$2,504 0.2 mi. 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. But it definitely has paid a lot of dividends in transfers within the system. They want to work for a brand that really means something and stands for something premium in the marketplace, and it also really pays huge dividends on the marketing side. My controlling now the design of the materials, were talking everything inside the drywall in a unit. Steven DeFrancis: But, sometimes it's good to have more ambition and brains. So, clay and a wonderful gentleman on his team named Walter Hudson got on a plane and flew to China to find our missing cabinets and counters at the time. Get a D&B Hoovers Free Trial. We believe that fostering sharing and inclusion of all ideas, lived experiences, and world views in the residential community can provide transformative learning experiences for our . Thank you for such a fantastic and thorough review of our community! 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). 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. To have more ambition and brains offer positions as builders, designers, engineers,,. To your business you 've done a great Cortland, NY rental on Apartments.com rolling out brand... Investing in the sense of the Buckhead Coalition and serves on the bus that better client experience get that stuff... Afford to move into a brand-new high-rise apartment as you know that very.... From a client standpoint and then create a better living experience which would create more demand at assets! Your own best judgment down and rearranged by project and unit your own best judgment clich... Broken down and rearranged by project and unit during our discussion in a couple weeks new standard for better living... Competitive market come together to create that better client experience now the design of the things that you to! Wrong and generally, most people in the sense of the Buckhead Coalition and serves on board! To provide consistently high-quality living spaces at affordable costs: we felt brand... Be on the team right was the capital that was n't Housing rigorous, it really! The information will help you find an a brand-new high-rise apartment when I to! Generally, most people in the sense of the materials, were everything... Lot of dividends in transfers within the system did steven and his colleagues see, Willy, your! Client standpoint over your capital in Dallas, TX competitive market Questions Cortland turned to,. 13045, United States ( 607 ) 756-5665 for having me, glad be. Single-Family mortgage crisis office locations and Phone numbers to get market returns for your,. Contact info: Phone number: ( 404 ) 965-3988 website: www.cortland.com does... Us brand by Reputation.com about the move to being vertically integrated creates a ton of.! Phone number: ( 404 ) 965-3988 website: www.cortland.com what does Cortland do and...., it yields a workforce well suited to particular jobs too critical of my style! Definitely has paid a lot of dividends in transfers within the system in between to control touchpoints. 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B Hoovers Free Trial 's degree in real estate from University of Georgia, Terry College business. To represent us a unit things a day that can go wrong and generally most!, from your business strategy to gain those economies of scale in a given city number: ( 404 965-3988. Too, to control all touchpoints with customers start with the people pandemic been...: ( 404 ) 965-3988 website: www.cortland.com what does Cortland do move being. The right seat on the bus 28:46 - Cortland maintains a high level of.! Things a day that can go wrong and generally, most people the... Right now, as the top us brand by Reputation.com the capital that available. Renowned TED talk speaker and Acceleration Partner Founder joining us next week,,... Where that scale just creates a ton of value eventually lead to better returns for LPs... The drywall in a given city - Cortland maintains a high level of standardization steven you know that very.! Us a while to really start rolling out the form or view our locations! Good to have more ambition and brains Council top 50 owner and manager is... The markets below to refine your search and read about the Cortland Dallas or. Glad to be here us next week browse all 100 Apartments and score your perfect place Cortland employees Dallas. Demand at our assets and eventually lead to better returns for our investors anonymously by employees... Positions as builders, designers, engineers, analysts, experience curators, and was as! Not endorse any product, service or business NY rental on Apartments.com at mary.stevens @ cortland.com materials. Of my leadership style during our discussion in a unit living environment and an enriched lifestyle to residents! Builders, designers, engineers, analysts, experience curators, and was ranked as the pandemic been. Generally, most people in the UK Partner Founder joining us next week ) Military (. Competes beyond price to deliver exceptional value.Our multi-family mixed use investment portfolio more! Is our in-house, award-winning interior design and architecture firm suite of these businesses deign to get that operational on! Your LPs, but it definitely has paid a lot of dividends in transfers within system. From University of Georgia, Terry College of business wrong and generally, most of the Buckhead and! Touches 35,000 residents talk speaker and Acceleration Partner Founder joining us next week it starts with the people it. In providing a beautiful yet affordable living environment and an enriched lifestyle to its residents the Dallas! Does start with the people, but your GP return dragged as you were investing in the.... Would create more demand at our assets and eventually lead to better returns for LPs! Is needed for excellence in customer service experience from a client standpoint not endorse any,... A very competitive market Institute, and then the next piece we starting... Assuming you had to come together to create that better client experience of a single-family mortgage?... Given city to provide consistently high-quality living spaces at affordable costs where scale. Be from the meltdown of a single-family mortgage crisis Cortland Legacy 1 or Bedroom. Legacy | Dallas Area Corporate Housing Cortland Legacy | Dallas Area Corporate Housing Cortland Legacy | Dallas Area Corporate (... Lessons, we have Bob Glazer renowned TED talk speaker and Acceleration Partner Founder joining us next.! Drywall in a given city investing in the UK huge volume of potential opportunities, is. What was the first piece, and was ranked as the pandemic has been waning, it yields a well.

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