NEWSLETTER JULY 2024
Marquette REAP Investment V Seasons at Grafton Apartments
Development of 280 Apartments | April 2024
Sponsor: Fiduciary Real Estate Development, Inc.
A LETTER FROM OUR CFO
At FRED, we are always looking for ways to make a positive and lasting impact on the community, as well as foster a culture of learning and continuous improvement Of course, we are also always tasked with balancing these aspirations with our financial goals and objectives. We recently had an opportunity to fulfill all these areas, and I am proud to be able to share this story with you.
In 2021 the Marquette University Business School and it’s Center for Real Estate launched the “Real Estate Asset Program (“REAP”) REAP is the first and only program of its kind in the country, allowing undergraduate real estate students the opportunity to partner with real estate owners/developers to make investments in real world real estate deals. This select group of Marquette real estate students (along with an advisory board made up of industry professionals), have been given the opportunity to oversee a $2 million fund, making investments in real estate deals all over the country I am happy to say that we have successfully partnered with REAP on our Seasons at Grafton property Through this partnership, Marquette and the REAP fund will be making a $150,000 investment in our project. Marquette’s decision to invest came through a series of presentations and Q&A sessions, wherein the students were given the opportunity to analyze our investment offering materials, visit the site, tour some of our competitors, and ask a lot of great questions about the project and our financial projections This exercise was not only a great real-world learning experience for the students, but it also gave us an opportunity to help teach and mentor these students and promote FRED within the Marquette Business School and with Marquette Alumni.
Moving forward, we hope to collaborate with Marquette on additional projects and continue build upon the relationship that we have started with the Seasons at Grafton!
Sincerely,
Austin Mautz CFO
DEPARTMENT UPDATE LEASE SIGNING
BY MICHAEL BINGHAM
For the past 8 years, FRED’S Accounting Department, led by Senior Director of Accounting, Andy McDonald, has been responsible for counter-signing all Wisconsin leases. Armed with their real estate licenses as required by state law, the accountants would review and counter-sign leases, pushing any that may have inaccurate or missing information back to the properties for regeneration
In our continued efforts to streamline processes, better organize departments, and improve accuracy, this extremely important task was re-assigned to the Property Management department’s Regional Managers In order to make the transition, all Regional Managers were required to get their Wisconsin Real Estate License Directly overseeing the communities and understanding the intricacies at each site gives Regional Managers the knowledge that approving leases requires. Rachel Wagabaza, Director of Property Management in the Madison area, says “This move expedites the tracking of leases and allows Regionals/Directors to see patterns, both good and bad, and identify areas that may need tweaking or improvement in the process.”
Since the transition, several Regional Managers state that they now have a better understanding of of certain processes and their importance, such as quoting for price verification and ensuring that all pet documentation is uploaded prior to signing the lease.
I FEEL MORE INVOLVED ON A DIFFERENT LEVEL WITH MY PROPERTY MANAGERS AND A STRONGER RELATIONSHIP WITH MY ASSISTANT PROPERTY MANAGERS. IT HAS BEEN WONDERFUL DISCOVERING HOW WELL THEY WORK TOGETHER AS A TEAM! - SARAH HARRINGTON, REGIONAL MANAGER (MADISON)
Although accountants will no longer be approving leases, they will still play an important role in the leasing process by doing quarterly ease audits Each lease is individually audited to ensure accuracy and that all changes, whether adding a pet or removing a roommate, are correctly accounted for A huge thank you to Trisha Dunton, Office Coordinator at the Corporate office, who has been auditing our leases for several years!
Overall, the transition has been described as smooth and our teams are happy with the process change We are so thankful for all team members who had a role in this process, whether past, present, or future
WHAT OUR RESIDENTS ARE SAYING
CARMELO SALDI MAINTENANCE SUPERVISOR
SAMI WNUK LEASING P
EVAN DIECE PROPERTY MANAGER
Want to read more? Check out the sites listed to read full reviews from residents at each of our properties!
SEASONS AT PLAINFIELD
“From the moment we moved in it has been a joy living at Seasons Plainfield Management is top-notch and very attentive, and also offer ample activities in the clubhouse Even maintenance is friendly and very attentive (big shoutout to Carmelo - thank you for all that you do) The apartment itself is spacious, and gives a sense of luxury and practicality. Love our kitchen and master bath as well. Would highly recommend this property to anyone looking."
- Apartments.com Review from April 2024
VALLEY VIEW APARTMENTS
“Sami is my rockstar! No matter what day I am having she can put a smile on my face! This is what a community is about! Thank you Sami for helping get the best most peaceful place I have ever had!"
- De B., Google Review from June 2024
ALLEN PARNELL MAINTENANCE SUPERVISOR
KATI BISHOP PROPERTY MANAGER
JULIENNE NEMENZO LEASING PROFESSIONAL
HIGH BLUFF TOWNHOMES
“Great place to live. People are nice and respectful. Units are newer and up to date. The grounds are clean and well kept, from lawn mowing to snow removal. I recommend these townhouses! We just moved out in April 2024. We moved into a home. Our experience with Evan and the entire staff at High Bluff Townhomes was excellent They stay on top of maintenance once you identify issues The townhome community is quiet and really nice neighbors Special thanks to Allen the maintenance lead Great guy Good spirit"
- Gernard P., Google Review from June 2024
SEASONS AT NORTH AURORA
“We have lived here since December and we still find ourselves saying, “I love our place!” We are very happy and enjoy living here. I would like to recognize Kati and Julienne for helping us since day one. The Seasons offers amazing hospitality and they are always on top of resolving any issues"
- Estrella Z., Google Review from June 2024
EMPLOYEE SPOTLIGHT ALEXIS LUEDTKE
REGIONAL PROPERTY MANAGER
For those who may not know me, my name is Alexis (Rose) Luedtke, and I recently celebrated my 1-YEAR Anniversary as a Regional Property Manager with FRED! In this role, I get to work alongside a fierce bunch located across 6 communities in Waukesha and Ozaukee Counties This is my first role as an RPM and I discovered the opportunity while living in South Florida, with my husband and our then 7-month-old baby girl, Zoe Rose My husband and I relocated to South Florida, for my last role, in 2021 and we were excited to move back home to be with family.
SINCE JOINING FRED, I’VE GROWN A LOT AS A PROFESSIONAL AND EVEN OBTAINED MY SALESPERSON LICENSE, THANKS TO FRED!
In addition to property management, I enjoy creating, writing, organizing (dork, I know), designing, spending time with friends/family, and getting as much sunshine as possible!
2024 SUPPORT STATS
IT, MARKETING, AND ENTRATA HELP DESKS
From Jan 1, 2024 to June 30, 2024, our support teams completed almost 2,700 tickets!
MID-YEAR REVIEW
IT HELP DESK
TOTAL TICKETS: 1,162
TOP CATEGORIES:
Onboarding, Security Cameras, Computer, Offboarding, Email
TEAM: Jason Streit, John Calderone, Vong Lee, Madison Hunt, Freddy Almonte
ENTRATA HELP DESK
TOTAL TICKETS: 1,318
TOP CATEGORIES:
Lease Breaks, Lease Modifications (Households, Pets, Date Changes), Screening/Deposits
TEAM: Heidi Kivi, Jack Winkler, Erika Acimovic
MARKETING HELP DESK
TOTAL TICKETS: 214
TOP CATEGORIES:
Social Media Post, Website and ILS Updates, New Collateral, Reviews TEAM: Erin Ball, Shannon McInnis
OUR GROWING COMPANY
MAY 15, 2024 - JUNE 17, 2024
GABRIELLE THIGPEN LEASING PROFESSIONAL SEASONS AT PLAINFIELD
KARINA LANGEN ASSISTANT PROPERTY MANAGER HIGH BLUFF TOWNHOMES
TONY LOVERDE MAINTENANCE TECH II SEASONS AT HOFFMAN ESTATES
KEITH TIEDT MAINTENANCE TECH II BARRINGTON PLACE
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
JESSE STOTT MULTI-SITE APM ELAN & THE 85
CYRUS SCHEID MAINTENANCE APPRENTICE DREXEL RIDGE
NICO TINEO GROUNDSKEEPER RIDGE VIEW
AURORA GONZALEZ-CORONA LEASING PROFESSIONAL ARBOR LAKES
TERRIANA BROWN CLEANER VALLEY VIEW
WELLNESS TIP TRAVEL
BY RACHEL WAGABAZA
I embrace travel as a powerful form of self-care. Travel offers an opportunity to recharge and rejuvenate the mind, body, and soul.
INVESTING IN TRAVEL AND EXPERIENCES CAN BE FASCINATING, INSPIRING, RELAXING, AND FUN!
In my personal experience, traveling has broadened my perspective and deepened my sense of connection to both myself and the world.
JOSEPH KRETLOW MAINTENANCE APPRENTICE THE JUNCTION
KELVIN GUZMAN MAINTENANCE APPRENTICE BARRINGTON PLACE
EVELYN BYRNES MAINTENANCE APPRENTICE THE 85
SILVIO TORUNO MAINTENANCE TECH II 50TWENTY
