NEWSLETTER JANUARY 2024
FIDUCIARY REAL ESTATE DEVELOPMENT, INC.
VOLUME 6, ISSUE 1
A LETTER FROM OUR PRESIDENT & CEO As we turn the page on 2023, I want to thank each of you for all you did to make 2023 an exceptional year for FRED. Despite some economic headwinds, including the fastest increase in interest rates in over 40 years and continuing but moderating inflation, we were able to accomplish some amazing things. Our Development and Construction Teams were able to begin construction of The Apex at Verona (292 units) and continue the successful construction of the 1,821 other units that we started in previous years. Our Property Management team had continuing success in leasing up those 1,821 units and, along with our Corporate Team, successfully closed on the sale of Bergamont Townhomes and the refinancings of The 85 at Maple Grove, Saddle Brook, Barrington Place, Riverwood, and 50-Twenty. Our portfolio continued to perform exceptionally well due to the hard work of our Property Management and Asset Management teams and we completed large-scale capital projects at many of our communities, ensuring that our properties and our residents are taken care of well into the future. Most importantly, you all worked tirelessly, as you always do, to make “apartment” synonymous with “home” for our many thousands of residents who rely on us to provide them a safe, healthy, and vibrant place to live. As we look ahead at 2024, I remain cautiously optimistic that macroeconomic conditions will continue to allow us to start the development of multiple new projects in our pipeline and we anticipate additional successful refinancings of a handful of our recently completed and stabilized projects (likely candidates include Seasons at Mt. Pleasant, Seasons at River View, High Bluff at Creekwood Crossing, and Seasons at Plainfield). All I can ask from each of you is to continue doing what you do so well: take care of our FRED team and our residents by “Living the Difference” every day. Thanks again for everything you do for FRED!
Sincerely,
Brett Miller President & CEO
DEPARTMENT UPDATE MARKETING
Did you know?
BY SHANNON MCINNIS
your ideas and feedback!
FRED’s Corporate support team is always happy to help and loves to hear
Sip and Learn? Don’t mind if we do! Property Managers and their teams gathered at Raised Grain Brewing Co. last month for a Marketing Workshop – the first of its kind at FRED! The change of pace helped facilitate a fun environment of learning and creating using Canva Pro and Buffer. We wanted to give everyone not just access, but a crash course in what makes a good design, including words, art, and media. Teams then put those skills into practice making flyers and social posts with properties’ unique brands. Our goal was to provide multi-family-specific tips to help each property stand out in their on-site marketing and online communities. Rolling out these collaborative tools across the portfolio was a long time coming for our teams and we hope everyone is excited to use them!
THE TEAM ERIN BALL Operations Manager SHANNON MCINNIS Creative Marketing Coordinator
WHAT OUR RESIDENTS ARE SAYING
Want to read more? Check out the sites listed to read full reviews from residents at each of our properties!
STATE STREET STATION “Gary is AMAZING and the staff makes this place feel like a home! I have nothing but great things to say about State Street Station. There are always things to do around town and the apartment also throws parties such as game nights, beer tastings, luaus, and more! [...] This is a great place to live and I would recommend this to anyone and everyone!" GARY WAUGH
- Ericka M., Google Review from October 2023
LEASING PROFESSIONAL
MANCHESTER OAKS “We have lived here for a little over a year and it’s been great so far. Jill has been a huge help to us from the start. The maintenance team is prompt and handles issues in a timely manner. We are very happy with our move to Manchester Oaks." - Scott M., Google Review from November 2023 “I have been here for about 7 years and I love it. It is very well maintained and JILL SHOTOLA
ASST. PROPERTY MANAGER
everyone is so friendly. I even have wonderful neighbors. Jill in the office is amazing she is super friendly and very helpful!!! [...] - Sandra S., Google Review from November 2023
HIGH BLUFF AT CREEKWOOD CROSSING “High Bluff townhome living has been the best choice for us! [...] Kirstin and the management have been very responsive, friendly, and professional. The location is convenient to Brookfield, Sussex, and Menomonee Falls restaurants and stores." - Anonymous, Apts.com Review from December 2023 KIRSTIN ROGOWSKI PROPERTY MANAGER
SEASONS AT RIVER VIEW “Move in, stay, and now moving out, my experience has remained the same. Exceptional. Taylor, Veronica, and the entire team at Seasons have truly been phenomenal. It is one thing to live in a brand new home but it is another when a team truly makes it feel like home. Will 100% recommend all friends and family here. Thank you all again!" TAYLOR DEVINE
ASST. PROPERTY MANAGER
VERONICA AGUILAR
LEASING PROFESSIONAL
- Jose A., Google Review from November 2023
EMPLOYEE SPOTLIGHT ZAVIAN HUNTER ASSISTANT PROPERTY MANAGER AT 22 SLATE I have been drawing for as long as I can remember. Mostly off and on as an adult but it's always been a talent of mine. Until recently, I never really took it seriously, but my daughter who is 12 has the gift of art as well and has influenced me to get back into it. I LOVE TO DRAW MY FAVORITE CHARACTERS FROM MOVIES, COMICS, AND CARTOONS. I've never really been into coloring my drawings until this year and discovered a whole new joy for art in doing so. I will be selling my art under the brand 24Hourz Artistry. Life supplies you with art 24 hours a day. Just look and you'll see it. I've been with Fiduciary for a little over a year now and I've started to bring my own artistic flare to our event flyers and our new newsletter, "The Clean Slate". Hopefully I can continue to show my talents not only to our company but worldwide.
2023 STATS Total Properties: 36 Total Units: 7,928 Largest Property by Unit Count: Arbor Lakes Sq Ft Range: 359 (Domain) - 1,963 (Woodlands) Total Residents: 11,993 Total Renewals Signed: 3,430 Total Leases Signed: 3,111 Total Move-Ins: 3,156 (486 in August) Total Pets: 3,043 dogs and 1,802 cats Total Employees: 266 0-5 Years at FRED: 181 6-10 Years at FRED: 59 11-15 Years at FRED: 11 16+ Years at FRED: 15
OUR GROWING COMPANY NOVEMBER 16, 2023 - DECEMBER 15, 2023
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
JEFFREY WILTZIUS REMODELER CREEKWOOD EVAN GAGE-WINNEN MAINTENANCE TECHNICIAN CREEKWOOD JOE BURKE MAINTENANCE SUPERVISOR SEASONS HOFFMAN ESTATES
CHOUA THAO
CORPORATE REGIONAL ACCOUNTANT
IVEN WEIMER
CORPORATE REGIONAL ACCOUNTANT
WELLNESS TIP STEPPING INTO 2024 BY JULIE LINCOLN It’s easy to find ourselves spending most of our time indoors over the cold winter months, but why not change it up this year? There are lots of advantages to being outside, even for just a few minutes a day, in these temperatures. Here are some of the benefits: 1. BURN MORE CALORIES AND BOOST BRAIN 2. SLEEP BETTER AND FIGHT INFECTIONS 3. REJUVENATE SKIN AND REDUCE STRESS I recommend going on a brisk walk with a friend or coworker on a break. Don’t forget that your body still needs hydration so drink plenty of water! Any exercise is better than no exercise, so get out there this winter and allow your body to receive the benefits of cooler temperatures!
ON THE COVER: 2023 FRED HOLIDAY PARTY
JOSHUA CARLOS MAINTENANCE TECHNICIAN THE JUNCTION