So after a while of fighting that battle, we finally decided to you know we hired Darla Dylan who was working for one of the companies that we had hired on third party basis and Ill never forget; we were like okay Darla is coming in she's going to do all of our interior design hundred percent of it we're going to have it no problem. There's huge value in that and this is just one example where that scale just creates a ton of value. We are Bainbridge We manage, develop, and invest in apartment communities that are complete experiences, where people are free to pursue better lives. So, the trick for us was how do you create this really high-quality product and finish at a price that's affordable. Cortland turned to insourcing, too, to control all touchpoints with customers. 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 % 10:19 - What about the companys change led to insourcing? Find company research, competitor information, contact details & financial data for Cortland Partners, LLC of Atlanta, GA. Get the latest business insights from Dun & Bradstreet. A good example, we decided about five years or so ago we decided to let everybody know who worked on site, every community manager and service manager, that there is no amount of money that they are not licensed to spend to make a customer happy. 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. So, we just said okay, well we've done a lot of other things ourselves, we'll figure this one out too. They execute Cortlands value-add and new build construction, in addition to offering their expertise beyond Cortland. You can live in an apartment, or you can live at Cortland. So, it's really two pieces; it's maintaining that ability to be the best to your customer, but also the ability to create the infrastructure to process a lot of throughput, and whether it's development or acquisitions or value add renovations, the whole process of creating product before you then manage and operate the product. 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. Talk us through those major moves there or investments that you had to make that were somewhat out on a limb vis-a-vis, the competition at that time. Steven DeFrancis: But, sometimes it's good to have more ambition and brains. Since then, weve become a global, integrated multifamily investment, development, and management firm focused on delivering resident-centric, hospitality-driven apartment living experiences. Allen, TX 75013-5259. 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. I do miss that piece. It must be really fun these days to sit down with LPs who are basically throwing money at you. 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. Contact Information. What was it that you either saw as a macro market opportunity or something that you saw inside of Cortland that made you shift strategy? You have pretty major stuff going on where systemization is key to execution, and if you mess up any of those things it just goes sideways. 110 Main St, Cortland, New York, 13045, United States (607) 756-5665. 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. Resale Documents. Pros. Steven DeFrancis: Well, Ill tell you how it started. Then you have a much lower failure rate and then a better system of maintaining that product so you know when you have something that's been repaired three times for the same problem you're probably going to have an issue. I personally would not live there. Willy Walker: One of the things that you talked about standardization in the sense of the experience from a client standpoint. 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. Cortland Glenridge. Cortland Locations. Frankly, historically, most people in the C suite of these businesses deign to get that operational stuff on their shoe. The first part of your question is what did we see in the broader market that gave rise to an opportunity? Back when we got started really doing this heavy value add, no investor wanted to do it. Cortland Build is a global, concept-to-completion construction delivery firm specializing in multifamily new build, commercial construction (amenities), and renovation. So that definitely has paid dividends, the real value on the brand more than anything else is the passion that it creates amongst the human capital. Our Services Affordable Senior Housing From apartments designed for independent living, to housing for seniors transitioning out of nursing homes, to cottages for the memory-impaired and their caregivers, our housing enables seniors to live, and age, where they choose. Cortland is headquartered in Atlanta, GA and has 7 office locations located throughout the US. Willy Walker: So, your brand, your customer experience, and your cost of renovation, are all competitive advantages that allow Cortland to pay higher for an asset, lower your cost of rehab and then be able to make up for it in the rents, you can charge, because the combination of lower cost on the rehab and then also the brand on the rents allows you to have a unique competitive positioning as it relates to acquisitions. And part of being able to focus on that was stripping costs out and being vertically integrated. 2:33 - He introduces his guest, Steven DeFrancis, CEO of Cortland. 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. But Cortland really focused on that. What did Steven and his colleagues see, Willy wonders, that led to the shift? Steven DeFrancis: At this time, we haven't thought about expanding beyond housing. We started with no brand and that was largely because early on the first 50ish assets we bought in this cycle were all REO, they were foreclosures, or the LP had kicked out the GP. 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. Sincerely, Mary S. Community Manager. Brand and associated SEO realities in the market today drive traffic, and they tie into the customer-centrism of the business. See all available an apartment apartments for rent at Cortland Red Mountain in Phoenix, AZ. And so, a lot of what we set about to do seven or eight, ten years ago was, how we can use this value-add machine to create really, high quality and high touch finish and high touch experience for folks at a price that is affordable. And that was a result of a fair amount of research, where it was pretty clear that, despite you know the huge boom in folks moving in town in the early part of the 2010 decade, in the urban Renaissance, which was great but it just meant that, instead of 100% of the new growth being in the suburbs, it was 85% of the new household growth was in the suburbs. 1-3 Br $1,434-$2,504 0.2 mi. 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. This is an overview of the Cortland Dallas campus or office location. As you know, Willy, we started a brand for 55 plus which we call the Tiva a number of years ago. About Us. The Residence Life and Housing Office at SUNY Cortland is committed to providing safe, civil, and vibrant living communities in support of our academic mission. 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. 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. All these different things that you have to line up when you have no control over your capital. 1160 Johnson Ferry Rd NE. Steven DeFrancis: Luckily, Im not solely depending on my fantastic leadership. Company Description:? From New York to Miami and beyond, we create places where residents feel equally at home and inspired. So much of it is about putting people in the right seat on the bus. Office (0) Den (0) Yard (6) Clubhouse (32) Business Center (32) Controlled Access (32) Playground (0) I have witnesses to confirm these actions. Talk about the move to vertically integrate and going and making partnerships with the OEMs over in China that allowed you to standardize product and cut your costs dramatically. Printer Friendly View Address: 420 W Slaughter Ln Austin, TX, 78748-1692 United States . Tue: 9am - 5pm. 22:17 - Steven comments on Cortlands approach to brand and recruitment. Check out . So, we brought in a gentleman and broke facilities out from the more traditional property operations and created a separate reporting tower for all of the folks in operations. Through local inspiration and research, this team strategically composes resident-centric communities and intentionally creates spaces for an elevated experience. 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 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). 35:11 - Willy asks about the move to being vertically integrated. So, I won't say we won't ever do something different, but we're not looking at something today. 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. 42:08 - Willy and Steven talk about the market now and Cortlands strategy. It's just not something people want to deal with, but it's necessary. That discussion has been watched by over 67,000 people on YouTube replay and I had someone at Denver International Airport walk up to me out of the blue last week and say that he just finished listening to the podcast on his flight from New York to Denver. Cortland Legacy is a short distance from incredible shopping, dynamic entertainment and several outstanding sporting venues. Additionally the **** system outside her window (was not disclosed to her the **** noise at time move in) disrupts sleep. Cortland is the largest owner operator in Atlanta and Dallas as well as all of the State of Texas. We offer positions as builders, designers, engineers, analysts, experience curators, and everything in between. Again, we were trying to figure out how to build this machine to create really high-quality product, very affordable price, very little volatility in the delivery schedule, etc. This long-term vision, in turn, drove all areas of the business, from hiring to design. Neither one had ever been there, had no idea what they're getting into but we're going to go figure this out. That led to the shift they 're getting into but we 're not looking at something.! 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