Vertical Integration Platform

Whether you are seeking an experienced company to develop your real estate project or seeking to invest in one, Cohen-Esrey's Vertical Integration Platform offers the benefit of deep synergy and economies of scale to ensure the successful outcomes you desire. Here's one example of how this platform performs in a project environment:

The St. Thomas Historic Residences were built and originally operated as a hospital in the western Kansas community of Colby beginning in 1941. Cohen-Esrey Development Group, LLC was the developer and quarterback on the conversion to affordable workforce housing.

Construction Technologies was the general contractor and Service Technologies was a subcontractor. Primepoint Partners supplied many of the building components and Cohen-Esrey Capital Partners secured the equity for the state historic tax credits. Finally Cohen-Esrey Communities coordinated the lease-up of the property and provides day-to-day property management services.

The involvement of all of these Cohen-Esrey business units through our Vertical Integration Platform allowed for much tighter control over the quality of the project, the development and construction timeline as well as the cost.

 

Explore each of our areas of expertise to see how we can say with confidence that we have you covered from start to finish.

Cohen-Esrey Development Group, LLC

Development Expertise

Since 1994, we have worked with federal, state and local housing officials to develop and acquired more thousands units in more than 50 affordable multi-family housing properties across the United States, with more underway.  We specialize in redeveloping historic buildings including hospitals, former schools, hotels and mercantile properties into seniors and workforce housing. We acquire existing apartment properties to renovate and convert to affordable housing, and also build new single-story senior housing and two-story family apartment.

Development Philosophy

Through our Thriving Communities approach, we are committed to providing more than a technically innovative, high quality housing development; we are expanding our definition of success to include attractive, people-centric spaces with a safety net of support services for those who need them. We believe this will result in engaged and happy residents who feel pride in their home and community.

 

Cohen-Esrey Apartment Investors, LLC

Investment Expertise

Since 1969, Cohen-Esrey's investment team has excelled in acquiring apartment communities of 200-units and larger in the 100 largest MSAs and selected tertiary markets. Today, our primary focus is on serving the increasing demand of those renting by choice: retiring Baby Boomers and Millennials. We acquire and renovate properties averaging 300-350 units located in markets with strong population, job, and Class B rent growth. Properties also must be newer stock and require just $3,000 to $8,000 per unit in physical improvements with an opportunity to re-position the property in the market.

Investment Philosophy

We ensure the markets we target have a large spread between Class A and B rental rates to drive demand for repositioned B+ units, which is intended to insulate our investors from the inevitable cycles in the housing market. Further, we use a conservative 25-30% equity approach on all acquisitions. Multiple properties are combined in our co-investment funding structure creating a diversified portfolio that allows participating investors to invest across the country..

 

Cohen-Esrey Capital Partners, LLC

Funding Expertise

Founded in 1999, Cohen-Esrey Capital Partners (CECP) has extensive experience weaving federal, state and private funding together in innovative ways to ensure all of our development projects are sufficiently funded. Tax credit investments are placed through a variety of CECP-sponsored funds and investors valued at more than $310 million. Capital Partners also raises co-investment equity for Cohen-Esrey's apartment acquisition program.

Funding Philosophy

We work closely with Cohen-Esrey's development team in structuring complex financial public-private partnerships that leverage different types of tax credits to support local and state housing goals. Our success comes from our commitment to investors, developers, federal and state partners to be innovative, responsive, and effective at producing positive results.

Construction Technologies, LLC

Construction Expertise

Established as a Cohen-Esrey company in 1993, we have more than 20 years of experience with multi-family property renovation and construction of all types, including LIHTC and National Park Service Historic tax credit projects, as well as Section 8 and Section 42 programs. We are skilled at working with federal, state, and local housing authorities to meet and exceed their housing goals.

 

Construction Philosophy

We work hand-in-hand with Cohen-Esrey’s development and investment teams to offer construction and renovation expertise for every Cohen-Esrey project. Present from the very beginning making site visits and participating in due diligence assessments, we have a deeply integrated view of the project’s construction or renovation needs.

www.ConstructionTechKC.com

Cohen-Esrey Communities, LLC

Management Expertise

Cohen-Esrey Communities, LLC (CEC) manages multi-family apartment communities across the US. In its more than 45-year history, CEC has managed over 525 different apartment communities that are home to more than 65,000 units in over 180 markets. Most gratifying has been the hundreds of thousands of individuals and families who have found a home in a Cohen-Esrey community. The company is structured into two divisions – Affordable and Market-Rate. CEC has deep experience managing a wide variety of community types, including conventional market-rate apartments, Section 42 tax credit properties, and HUD-financed communities. Properties have ranged in size from 30-units in the Affordable Division to 1,400 units in the Market-Rate Division.

Management Philosophy

Much of our success over the last four decades is due to our focus on customer fulfillment. We do this by hiring and developing professional team members with a passion for discovering ways to exceed the expectations of our residents. In addition, we offer multiple training opportunities to support every level of our staff from Regional Managers to Property Managers as well as our onsite service teams. Through our dedication to excellence in our team members, we are committed to keeping our properties expertly maintained, our residents happy, and our resident retention rates at the highest possible levels.

Service Technologies, LLC

Service Expertise

Launched in 2005 as a Cohen-Esrey company, Service Technologies, LLC provides ongoing support to all Cohen-Esrey properties ensuring each stays well-maintained and exceeds resident and investor expectations. Our extensive in-house team of maintenance technicians provides highly skilled resources across many services while keeping costs low.

Service Philosophy

We pride ourselves on being a single call solution to whatever maintenance need may arise. We complete our work with attention to detail getting the job done right the first time.

www.ServiceTechKC.com

Primepoint Partners, LLC

Supply Expertise

Formed in 2009, Primepoint Partners serves as a vendor manager for the Cohen-Esrey family of real estate companies. Providing service, contract negotiation, bidding, bulk purchasing, along with delivery and installation, Primepoint Partners is the premier point of purchase provider for multifamily unit management. We benefit from contract pricing with national manufacturers and suppliers like GE Appliance, Goodman HVAC, and Ferguson Enterprises for water heaters from A.O. Smith.

 

Supply Philosophy

We harness the combined buying power of the multifamily properties in our portfolio to purchase major appliances, HVAC units, and water heaters. Our direct purchasing contracts allow us to pass on significant cost savings to our properties, plus assist our developers in managing complex delivery logistics during construction.

www.PrimepointPartners.com/

Completed Property