WHAT WE DO
LCOR Residential, a division of LCOR, provides property, asset and investment management services to institutional investors, private owners and investors, lenders and corporations. We are especially skilled in repositioning properties as well as providing full service institutional investor reporting and investment management services.
Our record of success has maximized returns through capital renovation, increased operational efficiencies and a focus on the resident as a valued client. These services are provided to individual properties and portfolios alike with extensive experience in all types of multifamily product (garden, mid-rise, high-rise) in urban and suburban locations.
Our history and key strengths include:
- 30 years of apartment management experience;
- More than 37,000 units managed over time at over 120 communities in 21 states and the District of Columbia;
- Senior executives working together for more than 25 years;
- Strong relationships with major investors including CalSTRS, USAA, BlackRock, and JP Morgan
LCOR is a fully integrated investment, management and development company with a 30+ year track-record of creating unique opportunities and successful execution of large-scale profitable projects. Our proven history and established capital relationships have helped us pioneer the many public/private partnerships that are a trademark of our success.
Our specialty developing mid- and high-rise urban properties, including large-scale multifamily, commercial, and mixed-use properties, has generated strong investment returns while enhancing the quality of life for residents, office workers and shoppers, alike. We have acquired, developed and operated a diversified portfolio focused on the Northeast and MidAtlantic regions encompassing more than 21,000 residential units and 18+ million square feet of commercial space with the value of developments completed or under construction totaling in excess of $7 billion.
In 2012 the California State Teachers' Retirement System (CalSTRS) acquired a majority interest in our company. This partnership provides a solid foundation for the growth of the portfolio and further positions us for excellence in executing a pipeline of complex development opportunities.
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Managing Properties Through the Eyes of the Owner
As the developer of over 21,000 units, LCOR Residential understands owner goals and objectives and how important property management is to the investment life cycle. From high caliber maintenance standards to top performance from leasing and management staff, every facet of property management is carefully considered to add value to an investment. Toward that end, we are actively engaged in resident relations, retention and marketing programs; rent collection, staffing and training; and community and landscape management. Sophisticated software and accounting programs support real-time access to property financial and operating reports.
Our focus on managing through the eyes of the owner includes:
- Employing staff who are passionate about managing, leasing, maintaining and marketing each property and then training and motivating them to reach their highest potential;
- Crafting a life-safety inspection program for each property that is integrated into daily property operations to safeguard the investment;
- Constantly seeking cost savings through comprehensive expense review procedures, contract negotiations and vendor selection to ensure the highest quality services at the most competitive pricing;
- Carefully screening applicants based upon stringent financial criteria to minimize collections and revenue loss;
- Providing superior service to our residents and fostering a sense of community to spur referrals, improve occupancy and reduce turnover;
- Rigorously tracking and reporting on property and market metrics to shift focus and business plans as necessary and;
- Achieving the highest possible return for our clients while creating better places for our residents
Institutional Level Investor Reporting
We review broad financial trends as well as and micro-level metrics to enhance property and portfolio operations. Our reporting, both property operations and financial, has full service capabilities from daily cash analysis to portfolio consolidation of annual budgets and financial statements.
As owners of significant multifamily holdings, we understand how investment objectives vary from property-to-property, market-to-market and over time. After defining and refining investment objectives for each property and portfolio, our team drives peak financial performance while providing safe, comfortable homes for our residents. As a result, we are recognized throughout the industry for our service and successful track record.
With decades of experience developing and managing diverse assets across major U.S. markets, we have performed successfully through volatile market cycles, making the most of property and financial market opportunities. Significant strategic decisions – buy, hold, sell… reposition condominiums as apartments or vice versa… single-use or mixed-use – are continuously evaluated in light of ever-changing market conditions and individual investors' desires. Further, with a national asset management portfolio of over 21,000 units, we have real time access to market trends and best practices across the country.
Alternative asset strategies are clearly and concisely presented for consideration; comparative market values and demographics, construction costs, rental rates and other pro forma analytics underscore sound decision-making. A key to our asset management success is consistent communication and ongoing review and evaluation of investment and operating plans.
We provide a broad range of asset management services, including third-party property management oversight, acquisition due diligence, and construction management. Services are defined specifically for each owner and can include formulation of business plans, on location market review, and financial and operational reporting.
Operationally, we have been highly successful in streamlining standardized reporting across different management companies and operating systems resulting in newly defined standard charts of accounts that provide greater clarity in monthly property and portfolio operations.