www.CohenEsrey.com

www.CohenEsrey.com
Cohen-Esrey
Real Estate Services, LLC
Cohen-Esrey Real Estate Services, LLC (CERES) represents a family of companies that provides a
unique spectrum of products and services across the United States.
Since its founding in 1969, Cohen-Esrey has been committed to innovation, excellence, exceeding
expectations for clients, and delivering exceptional service.
Today the firm, with headquarters in Kansas City, is a national leader providing services through
seven specialty companies focusing on:
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Apartment & Condominium Management
Major Construction
Maintenance & Minor Construction
Apartment Investments
Affordable Apartment Development
Tax Credit Syndication
Physical Component Supply Chain Management
Cohen-Esrey
Communities, LLC
Cohen-Esrey Communities, LLC (CEC) manages multi-family apartment communities. CEC has
managed a cumulative total of 480 apartment communities comprising 60,000 units and located
in 180 markets. Although CEC has managed properties as small as three units, CEC focuses upon
100-unit and larger properties.
The largest property to date has 1,385 units in a single location. The firm has worked with countless
individual investors, banks, savings and loans, insurance companies, pension funds, tenants-incommon (TIC) partnerships and a host of other multifamily housing owners. Its management
portfolio has included garden apartments, mid-rises, high-rises, luxury apartments, condominiums,
and cooperatives.
CEC has experience managing conventional market-rate apartments as well as Section 42 tax credit
properties and HUD-financed communities.
Some of the clients served by CEC include Henderson
Global Investors, USAA, Citicorp, Sterling Equities,
FNMA, Freddie Mac, Midland Loan Services, PNC
MultiFamily, CWCapital, GMAC, Capmark, Lennar, New
England Mutual Life, Archon, Penn Mutual Insurance,
J.E. Robert Companies, Royal Neighbors Insurance,
Shearson Lehman Brothers, Ticor Title, Simpson Housing
Solutions, AEGON, Travelers Insurance, General Electric
– to name a few.
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Construction
Technologies, LLC
Construction Technologies, LLC (CT) provides a cost-effective enhancement to new construction, renovation,
and historic restoration of commercial and multi-family projects. CT can serve as either a construction
manager or a general contractor. The type of projects in which the firm specializes includes:
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Construction of new apartment communities.
Renovation of existing apartment communities with an
emphasis on affordable housing and historic buildings.
Tenant improvements in office and retail properties.
Tenant improvements in medical facilities.
Construction of new commercial properties including
small office, retail and industrial.
Renovation of commercial properties including office,
retail and industrial of all sizes.
CT operates across the country and has recently undertaken projects in Kansas City; Topeka, Kansas;
Omaha and Lincoln, Nebraska; Indianapolis, Indiana; Kalamazoo, Michigan; Houston, Texas, as well as
several smaller communities in Texas.
Jobs range from as small as 700 square feet to as large as 250,000 square feet. The company has completed
447 projects in its history totaling $300 million in value.
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Service
Technologies, LLC
Service Technologies, LLC (ST) was formed to provide a variety of maintenance and minor
construction services to owners of apartment communities and commercial properties.
Service Technologies, LLC (ST) provides routine and
preventive maintenance, plumbing, electrical, HVAC
(including boiler), cabinetry, concrete, painting and a
wide range of other specialties.
Owner-occupants or tenants of multi-family
communities, medical buildings, retail facilities and
industrial properties that are responsible for their own
maintenance will find the services provided by ST to be
timely and cost-effective.
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Cohen-Esrey
Apartment Investors, LLC
Cohen-Esrey Apartment Investors, LLC (CEAI) acquires existing apartment properties throughout
the United States and utilizes the capabilities of its property management affiliate, Cohen-Esrey
Communities, LLC, to quickly evaluate and perform due diligence on potential acquisitions. Its
construction affiliate, Construction Technologies, LLC, evaluates any maintenance or construction
issues. Acquisition opportunities are sourced from local brokers.
CEAI pursues apartment communities of 150-units and larger in stable locations with populations
from fifty thousand to one million people over a thirty state region. Its primary focus is on B and
C+ quality projects with opportunities to leverage our expertise to add value. Strategies for value
creation include a variety of techniques, including:
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Need for physical improvements or amenities to
drive increases in occupancy / rental rates.
Reduction of operating expenses through best-inclass management techniques.
Change of use.
Resolving financing difficulties through the creative
utilization of debt and equity.
Development of adjoining land or the sale of a
portion of an asset.
The company is launching a multi-investor equity fund to provide the equity necessary to ramp-up
its acquisition efforts. Equity will be paired with HUD 221(d)4, HUD 223(f), FNMA and Freddie
Mac loan programs.
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Cohen-Esrey
Affordable Partners, LLC
Cohen-Esrey Affordable Partners, LLC (CEAP) was formed in 1994 to develop and acquire
affordable multi-family housing across the United States. To date, 55 properties totaling nearly
4,000 units have been developed or acquired. The firm utilizes Section 42 tax credits as well as
HUD programs to achieve its mission.
Cohen-Esrey Affordable Partners (CEAP) is also an active purchaser of existing apartment
complexes. CEAP completed the first for-profit Section 236 de-coupling in the nation and has
structured a number of projects utilizing tax exempt bond financing, Federal Home Loan Bank
loans, HOME loans, state and federal affordable housing tax credits, state and federal historic tax
credits and a variety of other programs.
The company has re-developed numerous historic buildings including hospitals, former schools,
hotels and mercantile properties into seniors and workforce housing. It has built single-story senior
housing and two-story family apartments. In addition, CEAP has been installed as the replacement
general partner in a number of tax credit properties where the investor desired to bring in new
ideas and strategies.
CEAP and its affiliate, Cohen-Esrey Capital Partners, LLC have worked with a number of investors
and federal syndicators including Alliant Capital, Apollo Equity Partners, Boston Capital,
Centerline Capital Group, CharterMac (Related Capital), Edison Capital, ESIC, GE Capital,
Heartland Properties, IDACORP, KeyCorp, MMA Financial, Raymond James Financial, Richman
Group, Sempra Energy, US Bank and Zurich. Currently, equity for tax credit investments is placed
through the Heartland Affordable Housing Funds, LLC, which are sponsored by a Cohen-Esrey
affiliate. CEAP Objectives are:
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To acquire small historic properties to be converted
to seniors and workforce housing in small Midwestern
towns.
To acquire existing 100-unit + tax credit properties
nearing or past the end of the initial 15-year tax credit
period.
To acquire other existing properties – either conventional
or HUD apartments, or buildings that are convertible to
affordable housing – and re-develop them as affordable
housing.
To acquire general partner interests in existing tax credit properties.
Cohen-Esrey
Capital Partners, LLC
Cohen-Esrey Capital Partners, LLC (CECP) makes a market in various federal and state tax
credits. These credits include both certificated and allocated credits from state low-income housing
developments and rehabilitations, state and federal historic rehabilitations.
Cohen-Esrey Capital Partners, LLC (CECP) launched The Historic Preservation Fund, LLC, in
late 2007 to specifically focus on the acquisition of $11 million in federal historic tax credits for
com¬mercial and multi-family properties throughout the country. A follow-up fund, the Heartland
Historic Preservation Fund II, LLC is investing in $25 million in federal historic credits for projects
of all types.
The Heartland Seniors Housing Fund 2009, LLC was formed to invest in $10 million of the lowincome housing tax credits generated by the development activities of Cohen-Esrey Affordable
Partners, LLC. The Heartland Affordable Housing Fund II, LLC will also invest in up to $40 million
of low-income housing tax credits for Cohen-Esrey.
CETCA Housing Partners 2007, LLC and CETCA Housing Partners 2009, LLC were formed to invest in $13 million and $32 million of Mis¬souri state low-income housing tax credits respectively.
During 2012, CECP intends to launch state historic tax credit
funds in Wisconsin and Virginia.
CECP acquires tax credits and aggregates them for a variety
of investors ranging from individuals to large publicly traded
companies. These tax credit programs are highly complex
and require intricate financing structures and a thorough
understanding of the underlying assets as well as a myriad of
regulatory and tax issues. CECP professionals know how to
maximize the benefits of such programs for credit recipients and investors alike.
Principals of CECP have invested in nearly $300 million worth of tax credits since 2000. Our
success comes from our commitment to developers and federal partners to be responsive, easy to
work with and ready to get things done, and to add value by sharing our development, market and
extensive multi-family management experience.
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PrimePoint
Partners, LLC
PrimePoint Partners, LLC (PPP) provides a wide range of
products used in apartment properties including appliances,
heating and cooling equipment, hot water heaters, washers,
dryers, doors, frames, hardware, counter tops, cabinets,
plumbing fixtures, light fixtures, window coverings and other
items.
PPP successfully aggregates the buying power for all CohenEsrey business units to achieve the best prices for quality
products to the benefit of our portfolio. Substantial discounts
are negotiated and the savings are passed along to the benefit
of Cohen-Esrey managed and developed properties.
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For More
information
Please contact:
R. Lee Harris, CRE, CPM
President and Chief Executive Officer
(913) 671-3332
[email protected]
www.CohenEsrey.com
6800 West 64th Street
Overland Park, Kansas 66202
www.CohenEsrey.com