NEWSLETTER FEBRUARY 2024
! y y p p a D a H s ’ e n i D t E n R e F l , a e V v Lo
FIDUCIARY REAL ESTATE DEVELOPMENT, INC.
VOLUME 6, ISSUE 2
2024 HOLIDAYS & EVENTS January 2
New Year’s Day (observed) - Full Day
January 15
Martin Luther King, Jr. Day - Full Day
March 21
2024 FRED Summit - 9am-4pm
March 29
Good Friday Early Release - 3 Hours Early
April 17
2024 FRED Game Day - 9am-4pm
May 24
Memorial Day Early Release - 3 Hours Early
May 27
Memorial Day - Full Day
June 19
Juneteenth - Full Day
July 3
Independence Day Early Release - 3 Hours Early
July 4
Independence Day - Full Day
July/August
2024 CAMP FRED - more info coming soon
August 30
Labor Day Early Release - 3 Hours Early
September 2
Labor Day - Full Day
November 4-8
2024 FRED United Way Week
November 11
Veterans Day - Full Day
November 27
Thanksgiving Early Release - 3 Hours Early
November 28
Thanksgiving - Full Day
November 29
Day After Thanksgiving - Full Day
December 13
2024 FRED Holiday Gala - 6pm-10pm
December 24
Christmas Eve - Full Day
December 25
Christmas Day - Full Day
December 31
New Year’s Eve - Half Day
January 1
New Year’s Day (2025) - Full Day
DEPARTMENT UPDATE FINANCE
Did you know?
BY GREG THELEN
your ideas and feedback!
FRED’s Corporate support team is always happy to help and loves to hear
Have you ever wondered why we need investors and investor relations to be successful in multi-family real estate development? The reality is we would not be able to do what we do at FRED without our investors. Investors play a crucial role in the success and growth of our organization. They provide the necessary capital that allows us to acquire land, finance construction, and execute development projects, along with the purchase of any existing projects. The infusion of capital from our investors is especially vital in the multi-family real estate sector, where lenders will generally finance up to 65% of cost to purchase or construct. The other 35% would then need to be raised through investors, or what we call offerings. Without investors, developers would face significant challenges in realizing their projects, limiting the scope and scale of their operations. Investor relations, the management and communication of our relationship to our investors, is paramount in sustaining and attracting investors. Clear and transparent communication fosters trust, a cornerstone in maintaining the long-term relationships with our investors. Investors need assurance that their funds are managed prudently and effectively, and that our organization is adept at navigating challenges inherent to the multi-family real estate sector. Regular updates on project progress, financial performance, and market trends reassure our investors about our competency and commitment to delivering returns on their investments. Effective investor relations involve providing comprehensive information on the project’s strategies, risk management, and financial performance, therefore aligning investor expectations with the realities of the multi-family real estate market. In the end, robust investor relations contribute to a positive reputation in the community, potentially attracting new investors and diversifying the investor base.
THE TEAM GREG THELEN Director of Capital Markets
AUSTIN MAUTZ Chief Financial Officer
KRISTI PEIRCE Vice President of Corporate Finance
SARAH DRILIAS Investment Relations Specialist
FRED OUT OF OFFICE
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BY JASON STREIT
an upcoming issue!
Use the QR code to submit your out of office activity for a chance to be featured in
My journey into 3D printing began back in 2016. I had decided to build a Warhammer 40K Space Marine using the skeletons of Lego Star Wars action figures and sheets of crafting foam. I was working on the Space Marine’s helmet that seemed to be too detailed to be made from foam. I tried sculpting it from clay and quickly realized I had no talent with clay. I found a 3D printed model on the internet and paid to have it made and mailed to me. I like to learn new things and tinker with electronics, so I set out to learning more about 3D printing. YouTube and forums helped me learn about 3D printing. I learned there are two types of printers you can buy as a hobbyist, FDM and Resin. FDM melts plastic and lays down layers on top of layers to slowly build up an object - I often tell people to think of it like a fancy glue gun. Resin uses ultraviolet light to harden resin layer by layer. I went with an FDM style printer and used an opensource build guide for a “Dbot” printer to build my own 3D printer instead of purchasing a prebuilt one. The biggest challenge for building a printer is that you need 3D printed parts to build your 3D printer. Luckily, a friend of mine who has a one printed out the parts I needed. After much “learning” (a.k.a. mistakes and setbacks), I had a fully functional 3D printer. I find things to print on the internet and modify them to my liking using a basic tool for Windows called 3D Builder. I wanted to modify and build my own 3D object so I found open-source software called Blender. Blender is intimidating for beginners, so I took a Udemy course called Complete Blender Creator: Learn 3D Modeling for Beginners. So far, I’ve made a Warhammer 40k Titan, a goldfish (with my daughter), my son’s doodle to print, cartoon characters I created as a kid, a 2020 dumpster fire ornament, replacement parts/upgrades for my printers, a dabbing stormtrooper, Captain Picard meme (as displayed on Brett’s desk), my son’s scanned head on stormtrooper toy, and many more. You are never done learning with 3D printing and you are never done upgrading or buying new printers. I am currently working on a Voron 2.4r1 and now also own a resin printer.
PROPERTY SPOTLIGHT THE LANDMARK BY WILLIAM BOWDEN In 2023, The Landmark at Hatchery Hill welcomed Arin Bondurant as the new Property Manager and had an annual occupancy rate of 98.60%. THE LANDMARK IS CURRENTLY IN THE PROCESS OF HAVING MANY LARGE CAPITAL PROJECTS COMPLETED. Some of the projects include complete roof replacements, new siding, painting of the buildings, new property signs, and remodeling of the clubhouse. These improvements to the property will help to keep it competitive with the many new apartment communities going up in the area. The most exciting project is the new renovations to the clubhouse, designed by FRED’s spectacular designer, Karla Schultz. The renovations will include all new furniture, cabinets and counters, appliances, a 75" TV, stonework for the fireplace, fresh paint, window treatments and flooring.
WHAT’S TRENDING BY TYLER GIESE
In 2024, the property management and apartment living sector is experiencing a dynamic shift with two prominent trends at the forefront. First, flexible leasing options have become a focal point. From short-term leases to adaptable arrangements, Property Managers are offering flexible terms to accommodate the diverse lifestyles and changing preferences of residents. Second, community events play a pivotal role in shaping the resident experience. Property Managers organize a variety of events fostering a sense of community among residents. These events contribute to a vibrant living environment and strengthen the bonds within the community. Events at the communities also play a part in leasing to new prospective residents. Young renters are more likely to leverage multiple tools in finding an apartment such as talking to a current resident or neighbor of the community or even attending a function or event that the property is hosting. This is a new generational trend that hasn’t been seen before.
OUR GROWING COMPANY DECEMBER 16, 2023 - JANUARY 16, 2024
CASSANDRA MCCAWLEY ACCOUNTS PAYABLE
VONG LEE
SENIOR TECHNOLOGY SPECIALIST
Whether promoting from within or bringing new team members on board, we are always excited to see the ways FRED is growing. Help us in congratulating the individuals below on their new roles!
INTERNAL PROMOTION
ERIN BALL
DIRECTOR OF MARKETING AND PROPERTY OPERATIONS
ANDY MCDONALD
JORDAN RIDER
KRISTIN JANOWSKI DIRECTOR OF
SENIOR ACCOUNTING MANAGER
KRIS SLATER
SENIOR DIRECTOR OF PM ACCOUNTING
LEASING PROFESSIONAL DOMAIN
DANIELLE DAHL
ORGANIZATIONAL DEVELOPMENT
JASON STREIT
SUPERINTENDENT
DIRECTOR OF TECHNOLOGY
EVELYN GALEANO
LEASING PROFESSIONAL SEASONS AT HOFFMAN ESTATES
MAINTENANCE SUPERVISOR STATE STREET STATION
RECOMMENDATIONS BOOK BY KATE MANTHE How the Other Half Eats is an amazing book that sheds so much light on food privilege based on economic status. You’ll read about: 1. SNAP BENEFITS AND COST PER MEAL 2. FOOD WORKERS AND FOOD INSECURITY 3. MOMS VS DADS MEAL PREPARATION TIME This was the most thought-provoking book I have read to date. With over 8,000 homes, statistically many of our residents experience food insecurity and judgement of financial and food choices. This book will have you thinking about the shopping cart in front of and behind you in line and will definitely leave you hungry for change.
ON THE COVER: FRED REDS VALENTINE
ERIK MURAS
ZANG THAO
SENIOR MANAGER OF PM ACCOUNTING