Forbes recently released the 2017 World’s Most Sustainable Companies list. Yardi is proud to acknowledge one client and two partners whose sustainable initiatives earned placement on the list. Toronto-based magazine and research firm Corporate Knights has issued a list of the world’s most sustainable companies since 1995. The list is comprised of companies with market values of at least $2 billion. Each company must excel in 14 metrics that examine its management of finances, resources, and employees. The list demonstrates that when companies invest in sustainability, they become more profitable. Forbes explains, “the Global 100’s cumulative return is 24 percentage points higher than the ACWI benchmark.” Of those profitable companies, Yardi client Prologis returns to the World’s Most Sustainable Companies list yet again. The Colorado-based company celebrates a decade on the list this year. “We place high value on being a responsible corporate citizen,” says Arthur Nelson, VP Global Business Systems in an interview with Yardi. “One key element of that commitment is developing to internationally recognized sustainable building standards including LEED, BREEAM, CASBEE, HQE and DGNB, with the goal of certification.” Prologis also requires compliance from vendors. The Supplier Code of Conduct defines ethical, environmental and social principles for all supply chain partners. The code emphasizes the necessity of sustainable and ethical practices throughout multiple levels of the organization. Yardi would also like to recognize our partners Cisco and General Electric for their ranking amongst the World’s Most Sustainable Companies of...
Best Burbs for Bikes
Minneapolis + Montreal
What do Minneapolis and Montréal have in common? Other than harsh winters, a serious case of love for bikes, say the people at Copenhagenize Design Company, an urban design consultancy from the land of bikeability – Copenhagen, of course. According to the 2015 edition of the Copenhagenize Design Company Index of the most bike-friendly cities in the world, Minneapolis and Montréal are the only two North American cities that placed into the Top 20 bike friendliest cities in the world. Buenos Aires also made it to the top 20 to represent South America, while the remaining 17 spots were snagged by European cities such as Copenhagen, Amsterdam, Barcelona, Bordeaux, Paris and Vienna. Beyond the bikelane Copenhagenize put together a list 122 global cities with metro populations of over 600,000 (or significant political and regional importance) that are putting serious effort into reestablishing biking as a feasible, accepted and practical form of transport. As such, selected cities are given scores from 0 to 4 in 13 categories, considered essential for a truly bike-friendly city: advocacy for biking, pervasiveness of facilities (bike racks, stair ramps, space allotment on public transport, etc.) bicycle culture within a city or its relegation to subcultures cycling infrastructure perception of safety by cyclists political involvement social acceptance from drivers and the community at large traffic calming (special biking zones, lower speed limits, priority for pedestrians and cyclists over cars) gender split modal share of residents using bikes as a mode of transportation instead of cars or mass transit modal share growth since 2006 (considered the year urban cycling started gaining momentum) Minneapolis Newcomer Minneapolis is the only US city on the 2015 Copenhagenize Index, and a welcome surprise, after the US’ notable absence from the previous index, released in 2013. Minneapolis boasts 200 miles of recreational bike lanes winding through the city, of which 92 miles are off-street bike paths. Minneapolis also has the second-highest number of bicycle commuters of the larger US cities, surpassed only by Portland. The city is so bike-friendly that the league of American Bicyclists rewarded Minneapolis with the Gold Level Bicycle Friendly Community Award. Minneapolis even bikes in the winter! If you’re only visiting the larger Twin City or don’t want to shell out on a bike yet, affordable rented bikes are available through the city’s affordable Nice Ride bike sharing network. A 30-day pass will only set you back $15, while a one-year membership costs a meager $65 – that’s just 30 cents a day. Want to live in the most bike-friendly city in the US? Check out LPM Apartments (pictured at left) in Central Minneapolis, a 354-unit LEED Silver-certified high rise in the Loring Park neighborhood. Owned by Magellan Development Group and managed by Magellan Property Management, LPM came online in 2014 offering downtown Minneapolis views. The 31-story apartment community boasts 40,000 square feet of amenities that include a bicycle shop and bike storage of course. Other swanky amenities include two pools, two spas, outdoor yoga area, guest suite, landscaped deck, and an indoor dog play room with lounge and dog wash area. Montréal Canada’s second largest city has been part of the Copenhagenize Top 20 bike-friendly cities since its first edition in 2015. Although it has since slipped from the eighth position to number 20, the city of a hundred steeples is holding on to its top 20 status. Montréal boasts 383 miles of bikeways, while the greater Montréal area features a jaw-dropping 1,100 miles. In fact, Montréal is so in love with biking, there’s even a dedicated street style blog featuring exclusively biking Montréalers. Bike Ride on the Lachine Canal, Montreal – video by Tourisme Montréal Want to enjoy Montréal’s cool biking culture? Check out the CVL Group’s Place Kingsley Appartements and Parc Kildare Appartements in Côte Saint-Luc. With Montréal’s extensive metro bike lane network you can bike downtown or to the nearest mass transit station. Place...
2015 Digie Awards
Yardi Clients Among Winners
Two Yardi commercial real estate clients were recognized this month with prestigious Digie Award honors from the technology-focused conference and networking event Realcomm. Deutsche Bank Wealth & Asset Management was recognized for “Best Use of Automation in Real Estate Investment Management” and Stuart Appley of Shorenstein received a “Digital Impact Award” for his contributions as an industry visionary. According to Realcomm’s website, the Digie Awards (the name stands for “Commercial Real Estate Digital Innovation Awards’”) were created to single out “companies, real estate projects, technologies and people that have gone above and beyond to positively impact our industry through the use of technology, automation and innovation.” Yardi is a recipient of numerous past Digie Awards for the innovation contained within its technology products, and this year the company’s energy efficiency monitoring platform, LOBOS, was a nominee. You can hear Yardi Senior Vice President of Global Solutions, Rob Teel, talk about the product’s role in the commercial technology platform in this video. Stuart Appley – Shorenstein Appley has been with Shorenstein since 2007 and serves as the company’s CIO. A self-described “cloud evangelist,” with a technology focused Twitter account, he has been responsible for pushing Shorenstein’s technology platforms into the realm of today’s best practices. The company chose Yardi to be its technology provider several years ago. “It was time to automate a lot of different parts of the business, and Yardi’s system was the only one that has the breadth to allow us to do that,” Appley noted. Realcomm recognized Appley as “an industry visionary and early adopter of an ‘all in’ cloud strategy for the business of commercial real estate,” who “elevated IT from a tactical to strategic role pursuing a business transformation through technology.” “Real estate, traditionally, never spent any money on...
Five Affordable Cities...
Ripe for putting down roots
“New York apartment market stays white-hot,” “Seattle multifamily development on a roll,” “San Francisco rents through the roof,” – we’ve all read the headlines. We come across them daily, as the nation’s top metro areas continue to post high rent growth numbers and apartment projects continue to pop up all over America’s large urban centers. While the apartment market’s rebound and growth has undeniably brought great economic improvements nationwide, it is just as undeniable that the past few years’ explosive growth in the country’s top markets has led to pervasive housing affordability issues. While incomes are overall more substantial in large urban centers, so are living costs. With half of America’s renters spending 30 percent of their income on housing and a quarter spending over 50 percent of their income on their apartments, unaffordability is a hot-button issue. The good news is there are a few pockets in America, where housing and living costs coalesce with employment opportunities for affordable living. According to a recent Forbes analysis, many of America’s affordable cities are located in the South and Midwest. We’re taking a look at some of the housing options available in the five most affordable cities in the U.S. as established by Forbes. Birmingham, Alabama Named the most affordable of the nation’s 100 largest metro areas by Forbes, Birmingham, Alabama is boasts a median family income of $61,000 which means that you can live in style in the largest unit available at Arium Inverness, and still brag about having an affordable apartment. That’s right, this stylish community’s largest units, which clock in at 1,400 square feet, charges between $915 and $1,085 per month. That bargain deal includes three bedrooms with a loft, two bathrooms, a dining room, a balcony and den. Other posh features...
Making a Move?
5 Great Cities for 2015
Major metros are great, but the U.S. is also home to dynamic second and third-tier cities that offer strong economies, booming job markets and unique local culture. Many of the nation’s smaller metro centers are brimming with business opportunities and the chance to be part of positive change. The Huffington Post recently nominated five such cities as the it travel destinations of 2015: Portland, Ore.; San Antonio, Texas; Raleigh, NC; Albuquerque, NM; and Denver, Colo. Of course, the movers and shakers of the multi-family industry have already taken note, so Portland, San Antonio, Raleigh, Denver and Albuquerque boast excellent apartment communities. Raleigh With over $2 billion in apartment sales and $3.6 billion in commercial sales, according to Colliers International data, it’s no wonder the Research Triangle is a hot place to be. Among the hot new tickets in town is the 216-unit Amelia Station Apartments, which had its grand opening in December 2014. Part of the Drucker & Falk Real Estate portfolio, this luxury apartment community comprises one-, two- and three-bedroom units ranging between 700 and 1,300 square feet. Amenities include a resort style pool complete with poolside entertainment plaza, outdoor grilling pavilion, 24-hout fitness center, 24-hour business center, 24-hour billiards room, children’s playground, leash-free bark park, concierge services and a car wash station. Portland Banking on Portland’s growing popularity, Wood Partners entered a development partnership with Hoyt Properties in late 2012 to develop Block 17, the newest addition to Portland’s LEED-certified Hoyt Yards neighborhood. Set to open in fall/winter 2015 in downtown Portland’s Pearl District, the 281-unit luxury community is steadily rising near the three-acre Fields Park, which will provide ample outdoor green space for future residents. Comprising a 16-story high-rise and a five-story mid-rise and featuring floor-to-ceiling windows, Block 17 will...
Stars to Watch
Commercial Property Executive
This week, Commercial Property Executive unveiled this year’s Stars to Watch, 17 up-and-coming individuals and teams from across the commercial real estate industry that are sure to make more waves as they climb the career ladder. Like others recognized by this decades-long program, these 40-and-unders are exhibiting insight, creativity and dogged determination in completing deals and building businesses, often simultaneously seeking to give back by mentoring others, serving on other companies’ boards and involving themselves in their communities and social causes. Following is the list of CPE’s 2015 Stars to Watch. You’ll want to read about their accomplishments, featured in CPE’s February 2015 issue. Christopher Bellapianta, Director of Finance and Acquisitions, Advance Realty Georgia Collins, Senior Managing Director, Workplace Strategy, CBRE Group Inc. David Colman, Michael Colman, Tyler Ross, Principals, ROCO Real Estate Mathew Crosswy, President, Stonehill Strategic Capital Malcolm Davies, Principal, George Smith Partners Christine Espenshade, Vice President, Capital Markets, JLL Seth Grossman, Managing Director, Meridian Capital Group Michael Hart, Senior Managing Director, Corporate Occupier & Investor Services, Cushman & Wakefield Inc. Nicholas Hoffer, Senior Managing Director & COO, Hunt Mortgage Group L.L.C. Patrick Luther, Managing Director, Faris Lee Investments Benjamin Miller, Co-founder & CEO, and Dan Miller, Co-founder & President, Fundrise Nitin Motwani, Managing Principal, Miami Worldcenter Associates Taylor Snoddy, Managing Director, Transwestern Robert Stamm, Executive Managing Director, Savills Studley Lauren Staniec, Sustainability Coordinator & Enhancement Project Manager, Pyramid Management Group Armand Tiberio, Senior Vice President, Investments, Marcus & Millichap Real Estate Investment Services Inc. Craig Wilson, Executive Managing Director,...
Professional Advancement
Advice from able leaders
Problem: You want to be a greater asset to your company but the path to success seems unclear and you feel like you’re spinning your wheels. Solution: Advance your career by developing leadership skills that will prepare you for promotion. The skill set of a solid leader stands out on a resume or CV, and the effects of good leadership are often quantifiable. The Balance Sheet caught up with managers and executives throughout the industry to reveal the most sought-after leadership traits that will help you get ahead and lead with confidence. Getting Started Most of today’s leaders began as deck hands, so to speak, performing intro-level tasks while struggling to find ways to shine. John Crossman, President of Yardi client Crossman and Company real estate firm, believes that you don’t have to be the best student or the most flawless employee in order to catch your boss’s attention. Work your way up the ranks by developing servanthood and passion. “Being willing to learn and serve, helping your team, will provide you with the insights needed to do your job well and build a strong professional network,” begins Crossman. “Then when your knowledge and experience are coupled with passion, you will be unstoppable. When you’re passionate, that overflows to the entire company. That’s crucial to success in every area.” Integrity is another characteristic that can place you in better standing with your peers and your superiors. Chuck Fuhr, former Division President of Ryland Homes, Atlanta, served more than four decades in the real estate industry. He notes that professionals with integrity are priceless. They prove to be a solid, long term investment for companies. “A leader needs to have high integrity. Team members need to know their business or organization is being run in an honest and fair manner,” says Fuhr. Unethical or questionable behavior is like duct tapping a broken rudder. It may work for a moment but the situation is likely to get out of control. So much in the world of real estate is tight-knit and interrelated social networking. Bad dealings and poor relationships will place you at a disadvantage later. Don Rogers, General Manager at Yardi, Atlanta, also acknowledges integrity as an essential characteristic of a good leader. “A leader must be honest, be consistent, and do the right thing for your employees and customers,” says Rogers. But even the best leaders may have a hard time discerning what is right, which brings him to another valuable feature: good communication skills. “It’s a common misconception that good leaders always have the answers,” Rogers says. “I don’t always have the answers but I try to take the time to learn the facts and make a reasonable decision after hearing them. So it’s equally important to have good communication – to be honest, and be open—and to empathize with others. Remember where you came from when working with your staff, and try to understand the other points of view.” Full Speed Ahead Once you’ve secured your first management position, working further upwards is a matter of strategy and careful planning. Laquna Marrable, Assistant Director of Human Resources and Employment Services, has hired for international corporations as well as private institutions. She has noticed that companies of all sizes prize strategic thinkers. “It’s important for leaders to be able to see the importance of what they’re doing right now as it relates to the overall goals and missions of the company,” says Marrable. “They must be able to closely tie every project, every assignment, every team member, to the overall mission or objective. For example, ‘I’ve got Mrs. X working for me and she’s responsible for this. The responsibilities of this position relate to our mission because of Y and Z. By accomplishing her tasks, we’re 20 percent closer to the end result.’ That strategic approach enables leaders to make sure that everyone is on task working towards...
PACE Awards
Yardi Clients Honored
Several Yardi clients were recognized this week by the Property Management Association’s (PMA) Apartment Community Excellence Awards (PACE). Categories included market rate and government-assisted housing, along with green initiative communities, resident retention programs, and communities that make a difference in their hometowns. Habitat America was recognized for several properties, including Clare Court, which was honored in the Affordable Maryland category. The Clare Court complex offers a mix of apartments and townhomes within an intergenerational collection of residents. In addition to living in a supportive community, residents give back, enhancing the greater community through mandatory volunteer activities and training. Vantage was awarded in the lease-up category for its management of the luxury high-rise Gallery Bethesda (pictured at right), a recently completed community owned by the Donohoe Group. Ever- innovating, yet never losing focus on their client’s goals, Vantage has managed family-owned portfolios in the multifamily industry for 40 years. Properties were recognized in the Washington, D.C. metropolitan region including communities in Maryland and Virginia. According to PMA Executive Vice President Thomas B. Cohn, “PACE recognizes exceptional apartments and identifies communities that are passionate about providing exceptional resident services and delivering unparalleled living experiences. PACE not only celebrates excellence in the management of apartment communities, it also fills a void. PACE is the only awards program in the national capital region that evaluates apartment communities on their operating efficiencies and ability to deliver world-class customer service. Unlike many apartment award programs in other parts of the nation, PACE is not a beauty contest or a program to honor as many communities as possible. Instead, PACE looks to recognize truly extraordinary properties that are the best of the best.” Yardi clients were also recognized in the following categories: Habitat America : http://www.habitatamerica.com/ Category: Affordable Maryland Property...
Affordable Honors
For Yardi clients
Affordable Housing Finance’s readers chose their favorite projects from 34 finalists in nine categories based on innovation, community impact and creative problem solving, among other criteria. Seven of the nine projects are from Yardi clients with diverse development specialties in green design, urban planning, senior housing, and mixed-use projects. Preservation of Affordable Housing (POAH) was awarded the title of overall winner for its work on Grant at Woodlawn Park in Chicago (pictured, right). The 33-units serve low- and moderate-income families and are part of POAH’s Woodlawn neighborhood revitalization initiative. In addition to being voted the overall winner, Grant at Woodlawn Park was also selected as best master-planned/mixed-use project. The Boston-based nonprofit also is providing job placement services, financial counseling, and youth programs. Mercy Housing is a national nonprofit organization that renovates existing housing and develops new affordable rental properties for low-income families, seniors and people with special needs. Mercy Housing also builds strong foundations for its residents by providing programs such as health classes, financial literacy, employment resources, parenting and after-school programs for children. Mercy Housing took awards in the categories for family, senior and preservation projects. Mercy Housing California developed Caroline Severance Manor, located in the Mid-Wilshire/Koreatown neighborhood in the City of Los Angeles. The five-parcel property contains 85 units of intergenerational affordable housing with one-, two-, three- and four-bedroom apartment homes. In Chicago’s Pullman community, Mercy Housing Lakefront preserved a historic factory and transformed it into 210 affordable units known as Pullman Wheelworks. And in Half Moon Bay, Mercy Housing California helped bring seniors closer to critical services with the development of Coastside Senior Housing. Below its 40 affordable units, the property’s ground floor houses an adult day health center and a senior center with meal program. Satellite Affordable Housing Associates (SAHA)...
