Ginkgo Res - E-Brochure

GINKGO residential

WHY DO WE CALL OURSELVES GINKGO? The Ginkgo tree is arguably the most sustainable plant in the history of the world, with a magnificent design that has survived over 200 million years of existence. The Ginkgo tree defines our ideal as a company: strong, deep-rooted, adaptable and tenacious. With that in mind, the idea for Ginkgo Residential as a brand was formed. We invest in a solid core culture and exceptional customer service, and we strive to be greener, practicing more environmentally sensitive operations with every step we take.

Our mission is to provide reasonably priced, high-quality housing that is energy efficient and environmentally sensitive.

Our communities offer an exceptional living experience, with a home in which our residents can grow and have a lifestyle that inspires them to thrive.

WHO IS GINKGO RESIDENTIAL? Ginkgo Residential is an industry leader focusing on combining its core business of providing reasonably priced, high quality housing with energy efficient improvements that are environmentally sensitive.

Ginkgo Residential LLC (“GinRes”) is a fully

Senior management and property operations personnel

integrated real estate operating company focused on providing

develop a specific business plan for each asset under

acquisition, construction management, accounting, investor/

management. These plans include individualized marketing,

asset management and property management services to

maintenance, and capital improvement and investment

apartment communities in the south east United States. As of

programs designed to maximize the performance and value of

October 2018, it manages 30 communities with 6,100

each asset.

apartment units in North Carolina, South Carolina and Virginia for both third party clients and its affiliated investment platform. GinRes is the current iteration of a property management group that has been in continuous operation for over 25 years and managed in excessive of 38,000

Ginkgo operates under two guiding principles: 1. To provide quality, market rate housing for the middle market sector of the rental population.

apartment units.

Ginkgo Residential is owned by Ginkgo Investment Company LLC, an entity established as a holding company to own Ginkgo Residential and to make capital investments into various

2. Where economically feasible, to provide the option to integrate “green principles” into the apartment communities we manage, with a focus on responsible property investing.

sponsored real estate limited liability companies. As of August 2018, it had a market value of more than $20mm and maintains adequate liquidity to serve as a counter party for the financial

For Ginkgo Res, this means focusing on combining the

responsibilities of each of the limited liability companies it

benefits of pro-active management with the added value

sponsored.

achieved through incorporating

Throughout our history, the management team has been dedi-

energy efficiency principles into the properties we manage.

cated to providing high quality apartment homes to the middle

This includes a significant focus on utility savings, water

market. This

conservation and ongoing reduction in maintenance fees

represents the largest segment of the rental

with the goal of enhancing affordability to meet the housing

population; entry and lower-level workers which includes gov-

needs of the workforce population while maximizing each

ernment, retail, restaurant,

asset’s performance and value. We have a highly-disciplined

healthcare, public safety, manufacturing, along with other

approach to maintenance, leasing, operations and

workers who provide essential services to the communities in

management. Our high standards of appearance,

which they live. Our

maintenance and service place our properties firmly at the top

unwavering commitment to these residents is at the very core

of the markets we serve.

of our philosophy. Our proactive asset and property management programs and careful attention to resident needs significantly enhance occupancy levels, rental rates and, accordingly, the value of the assets under our management.

OUR SERVICES & EXPERTISE • Property Management • Redevelopment • Acquisitions

• Asset Management • Market Studies & Compliance • Green Initiatives

Our asset management team will develop a business plan for each property and work to ensure that it is properly monitored and executed. The primary goal is to maximize NOI, appreciation and asset value.

The construction and redevelopment team manages all aspects

•

Review, revise and approve the operating budgets and business

of training, coordinating, standardization, quality control and

plans prepared by the property managers with comparison to

preventative maintenance. They offer management of

the asset plan, portfolio strategy, pro forma and industry norms

construction and design work and oversee the coordination of

•

cesses associated with tax revaluation

renovation projects and green initiatives.

• We offer a full service professional property management team.

Our associates are organized regionally and will employ focused

Review and approve real estate tax concerns, including proControl the risk management process, ensuring adequate insurance coverage and processes leading to insurance optimization

•

Continuously monitor property and market conditions relative

innovative management techniques with a strong emphasis on

to defined disposition strategy triggers and make disposition

optimized property performance. Key management programs

recommendations when appropriate

are utilized to reduce resident turnover, increase occupancy and

•

A designated Resident Liaison in our corporate office assists

stimulate rental income growth. In collaboration with our

residents in the resolution of issues that may arise while living

training and full-service marketing departments, our team is

in one of our communities

focused on providing an excellent customer experience and

•

client services.

property managers and monitor compliance including cash management, internal control, accounting methods, and re-

We also undertake the following: • •

Understand the market where properties are located

porting procedures •

from budgets, accounts receivable, and compliance with the

Conduct regular physical inspections of properties to

business plan to meet strategic business plan outlines •

•

Monitor and control financial condition of properties,

Control the risk management process, ensuring adequate insurance coverage and processes leading to insurance optimization

condition, capital needs and operational tasks

•

Review property manager reports with emphasis on variances

through market research and ongoing pricing reviews become thoroughly knowledgeable about every aspect of •

Prepare financial management and accounting policies for

•

Continuously monitor property and market conditions relative

through review of leases, capital and operating expenses on

to defined disposition strategy triggers and make disposition

a daily, weekly and monthly review process

recommendations when appropriate

Create and oversee capital improvement programs as

•

A designated Resident Liaison in our corporate office assists

instructed or approved by owner

residents in the resolution of issues that may arise while living

Supervise the on-site management, leasing and marketing

in one of our communities

services to achieve a high level of occupancy and resident satisfaction

INVESTMENT INVESTMENT & OPERATIONS & OPERATIONS

MARKET MARKET STUDIES STUDIES Ginkgo’s Ginkgo’s research research process process has two hasmain two main componeAnts componeAnts

First, First, we use we top-down use top-down market market research research techniques techniques to target to target

Ginkgo Ginkgo Investment Investment Company Company LLC. LLC.

specific specific cities cities and states and states in which in which owners owners have an have interest. an interest.

Our Our management management team then teamfine thentunes fine tunes this research this research by comparing by comparing

GinkgoGinkgo Investment Investment Company Company LLC (“GIC”) LLC (“GIC”) was formed was formed to operate to operate

and adding and adding third party third party research research information. information.

in the in private the private market, market, and create and create investment investment opportunities opportunities that that align with alignthe with Ginkgo the Ginkgo vision.vision.

It partners It partners with private, with private, high net high net

The combination The combination of theof proprietary the proprietary and public and public information information

worthworth investors investors to form tovarious form various LLCs that LLCswill that own willand owninvest and invest in in

becomes becomes the basis the for basis our for macro-economic our macro-economic strategy. strategy.

targeted targeted apartment apartment communities communities in the in southeast. the southeast.

GIC invests GIC invests in stabilized in stabilized assets,assets, but primarily but primarily pursues pursues a strategy a strategy of acquiring of acquiring

Secondly, we use we a bottom-up use a bottom-up process process that acknowledges that acknowledges the the assetsassets that require that require varying varying levels levels of renovation. of renovation.

Often times Often times these these Secondly, newlynewly acquired acquired assetsassets were neglected were neglected or poorly or poorly managed managed

importance importance of developing of developing our own ourprimary own primary market market research research

communities, communities, typically typically with declining with declining levels levels of capital of capital reinvestreinvest-

withinwithin the local the real localestate real estate community. community.

The success The success of of

ment as ment theyasage, theyresulting age, resulting in deteriorating in deteriorating operating operating

integrating integrating thesethese processes processes distinguishes distinguishes us from us many from many of ourof our

performance. performance.

TheseThese new purchases new purchases are typically are typically at prices at prices of lessof less

industry industry competitors. competitors.

than 40% thanof40% replacement of replacement cost. GIC cost. then GICworks then works to restore to restore the the properties’ properties’ structural structural and aesthetic and aesthetic appeal, appeal, extending extending the the economic economic life of life the of asset the by asset 20 to by30 20years. to 30 years.

From March From March of 2011 of 2011 through through 3rd quarter 3rd quarter of 2016, of GIC 2016, acquired GIC acquired more than more5,200 than units 5,200 units in North in North Carolina, Carolina, SouthSouth Carolina Carolina and Virginia, and Virginia, and inand aggregate in aggregate

GINKGO GINKGO RESIDENTIAL RESIDENTIAL OPERATING OPERATING PLATFORM PLATFORM

today today manages manages more than more$110MM than $110MM of equity of equity and preferred and preferred equityequity and anand enterprise an enterprise value of value more of than more$550MM. than $550MM.

GinkgoGinkgo has assembled has assembled a robust a robust solutions solutions platform platform that enhances that enhances our core ourproperty core property management management operations operations experience experience to optimize to optimize performance performance results. results.

TheseThese solutions solutions include include systems systems that enable that enable

leasingleasing automation automation and online and online resident resident services, services, detailed detailed pricingpricing and and expense expense management, management, training training and marketing. and marketing.

We believe We believe that that minimizing minimizing expenses expenses and maximizing and maximizing revenue revenue can come can come through through in-depth in-depth marketmarket knowledge, knowledge, resident resident retention, retention, customer customer service, service, implementing implementing an effective an effective preventive preventive maintenance maintenance program, program, and and stayingstaying on topon of top the of latest the latest technology technology and operating and operating software. software.

Our Our approach approach to property to property management management encompasses encompasses a process-driven a process-driven mythology mythology with highly with highly trained trained professionals professionals and a and levelaof level product of product qualityquality and customer and customer serviceservice rarely rarely matched matched by others. by others.

Ginkgo’s Ginkgo’s comprehensive comprehensive and standardized and standardized policies policies and procedures and procedures allow for allow efficiency for efficiency and stability and stability while also whileallowing also allowing for flexibility for flexibility basedbased on property on property type and typeowner and owner objectives. objectives.

Ginkgo Ginkgo Green Green Initiatives Initiatives && Responsible Responsible Property Property Investment Investment (RPI) (RPI) RPI emphasizes RPI emphasizes improving improving the energy the energy efficiency efficiency of middleof middlemarket market rentalrental housing housing in a way in athat wayimproves that improves operating operating returns, returns, marketability marketability and economic and economic value.value.

It is important It is important to note to that noteRPI thatisRPI a profit is a profit drivendriven philosophy. philosophy.

WhereWhere it is economically it is economically feasible, feasible, our experience our experience allows allows us to us recommend to recommend valuevalue addedadded greengreen initiatives. initiatives.

• •

Improving • Improving the overall the overall building building envelope envelope by installing by installing new HVAC new HVAC•

Replacing • Replacing windows windows and roofs, and roofs, whichwhich helps minimize helps minimize heat gains heat gains

systems systems

and losses and losses

Focusing • Focusing on SEER on (Seasonal SEER (Seasonal EnergyEnergy Efficiency Efficiency Ratio)Ratio) upgrades upgrades and and • Use • ofUse compact of compact fluorescent fluorescent lighting lighting through through apartments apartments resizing resizing

•

•

ENERGY • ENERGY STAR rated STAR appliances rated appliances and windows and windows

Partnership • Partnership with Apple with Apple Blossom Blossom Energy, Energy, an industry an industry leaderleader in in •

Incorporating • Incorporating low VOC lowpaints, VOC paints, low flow lowfixtures flow fixtures and recycled and recycled

home home performance performance contracting contracting to enhance to enhance the value the of value the of asset the asset

resources resources in all building in all building material material selections selections

with sustainable with sustainable products products while minimizing while minimizing energyenergy costs costs

Another Another initiative initiative we offer wethat offerallows that allows us to better us to better protect protect the the

areas of areas concentrated of concentrated smoke. smoke.

Finally,Finally, measuring measuring the exact the amount exact amount

residents residents and the and environment the environment is instituting is instituting a smoke a smoke free living free living

of electricity, of electricity, gas, water gas, water and sewer and sewer used by used residents by residents allowsallows

environment environment at the at properties the properties we manage. we manage.

This policy This policy protects protects

owners owners to control to control expense expense levels levels and realize and realize savings savings on overall on overall

residents residents from second from second hand smoke hand smoke and protects and protects the property the property from fire from fire utility utility costs. costs.

We have Wethe have experience the experience to install to install state of state the of artthe art hazards hazards causedcaused by improper by improper disposal disposal of cigarette of cigarette butts and butts and

metermeter reading reading technology technology for utility for utility management management on theon the

smokers smokers dropping dropping cigarettes cigarettes onto furniture. onto furniture.

Designated Designated smoking smoking areas areas properties properties we manage. we manage.

This allows This allows for thefor recovery the recovery of utility of utility costs costs to keep tothe keep property the property free from freestray fromcigarette stray cigarette butts and buttsallow and residents allow residents and anand immediate an immediate increase increase in net in operating net operating income. income. to enter to their enterapartment their apartment homeshomes without without walking walking through through

CONSTRUCTION CONSTRUCTION MANAGEMENT MANAGEMENT

inkgoGinkgo Residential Residential has a strong, has a strong, vestedvested interest interest in eachinand eachevery and client. every client.

We take Wethe take time thetotime understand to understand our clients’ our clients’ uniqueunique needs,needs, investment investment

oals and goalswe and utilize we utilize our wide-ranging our wide-ranging experiences experiences and resources and resources to develop to develop a tailored a tailored construction construction management management plan. Our plan. pre-construction Our pre-construction

ervices services ensureensure every aspect every aspect of yourofproject your project is thoughtfully is thoughtfully planned planned out, including out, including anticipating anticipating unexpected unexpected challenges challenges that would that would otherwise otherwise

elay adelay project. a project.

We utilize We utilize the latest, the latest, cuttingcutting edge approaches edge approaches to actively to actively manage manage your project, your project, controlling controlling cost and costschedule and schedule to maximize to maximize value value

or ourfor clients’ our clients’ construction construction investment. investment.

GinkgoGinkgo has a proven has a proven track record track record of implementing of implementing and executing and executing successful successful construction construction and and

alue-add value-add projects. projects.

GinkgoGinkgo Residential Residential manages manages $12MM-$18MM $12MM-$18MM in annual in annual renovation renovation and energy and energy efficiency efficiency programs. programs.

LEADERSHIP WILLIAM GREEN, Principal

JENNIFER HIGBEE, Director of Accounting

Mr. Green serves as Co-Chief Executive Officer and a director of the Ginkgo REIT and

Mrs. Higbee joined Ginkgo Residential in 2012 as Controller, responsible

is also a principal of the advisor to the REIT, Ginkgo Residential (“Advisor”) where

for all accounting functions and financial reporting. She also serves as

he is responsible for all financial aspects of the Advisor and its Affiliates, including

Treasurer and Assistant Secretary for Ginkgo REIT Inc. She has over 10

debt and equity placements, and has been so since 2012. Prior to joining the

years experience with financial business planning, budgeting,

Advisor, Bill was employed with Starwood Capital Group (“Starwood”) where he

preparation and analyzing forecasts, monthly profit and loss, and cash

was responsible for the debt investments business of the firm and was responsible

flow statements. Prior to her time at Ginkgo, Jenny was with Grant

for the Starwood Debt Fund II. Before joining Starwood, Mr. Green spent the

Thornton LLP, serving as an audit senior in the real estate and

majority of his career in banking. He worked with Wachovia Bank, N.A. as Global

construction group, and Lend Lease serving as their Finance

Head of Real Estate Capital Markets, and with the Banc of America Securities where

Manager over management reporting. Jenny holds a Masters in Science

he held various positions, including Managing Director of Real Estate Private

of Accounting and a Bachelor of Science in Accounting, both from

Distributions and Managing Director of the Commercial Mortgage Conduit

Appalachian State University. She is licensed in North Carolina as a

Program. Prior to his banking experience, Mr. Green was involved with real estate

Certified Public Accountant and is a member of the American Institute of

development and real estate finance in the greater New York area with both private

Certified Public Accountants and Nareit.

and public firms, including as the chief operating officer of a New York based, 7,000 apartment unit value add company. Mr. Green earned a Masters in Business Administration from the Stern School of Business at New York University and a Bachelor of Arts in Economics from Hobart College. He holds an NASAA Series 65 license. Mr. Green served as a Trustee at Hobart and William Smith Colleges and currently serves on the boards of directors of Arbor Realty Trust, Inc., a NYSE-listed REIT, where he is the lead independent director, and of Royal Oak Realty Trust, where he is a nominated director.

ERIC ROHM, Principal Mr. Rohm has been with Ginkgo since its founding in 2010, and is responsible for the overall operations of Ginkgo, with general oversight of the property management, legal, risk management, human resources and systems administration functions. Prior to Ginkgo, Eric was Chief Legal & Administrative Officer of Babcock & Brown Residential from 2007 to 2010, and Vice President and General Counsel of BNP Residential Properties, Inc. from 2002 to 2007. From 1994 through 2002, Eric practiced law in the Real Estate Department of Kennedy Covington Lobdell & Hickman, LLP in Charlotte, North Carolina, focusing on all aspects of real estate acquisition/ disposition, development and financing, as well as real estate private equity investment transactions. Eric earned a Bachelor of Arts degree in Government, magna cum laude, from Georgetown University, and a Juris Doctor degree, summa cum laude, from The Ohio State University College of Law. Eric is licensed to practice law in the State of North Carolina and is a member of the North Carolina State Bar, the North Carolina Bar Association and the Association of Corporate Counsel. He serves on the Board of Trustees of the Penland School of Craft in Penland, North Carolina.

SCOTT WILKERSON, Chief Investment Officer Mr. Wilkerson leads all acquisition and investment activities for Ginkgo Residential. His experience in the multifamily industry spans more than 30 years, primarily with BNP Residential Properties, a successful publicly traded multifamily REIT, where he served in various officer-level positions, including Vice President of Administration and Finance and Vice President for Acquisitions and Development before becoming President, CEO and a Director. While at BNP, he had primary responsibility for the acquisition, rehabilitation and repositioning of apartment properties throughout the Carolinas and Virginia. From 1980 to 1986, Scott was with Arthur Andersen LLP, serving as tax manager from 1985 to 1986 and representing real estate investors, developers and management companies. He received a BS degree in accounting from the University of North Carolina. Scott is licensed in North Carolina as a Certified Public Accountant and is also a licensed real estate broker.

He has served on the Board of Directors of the National Multifamily Housing Council and the National Apartment Association, for which he also served as a Regional Vice President. He is a member of the National Apartment Association Budget and Finance Committee and formerly chaired the group’s Green Housing Task Force. He is also a past President of both the Apartment Association of North Carolina and the Greater Charlotte Apartment Association. Scott regularly participates on industry panels and gives presentations on various topics related to the apartment industry.

JOSIE NASIFE, Director of Property Management

RICHARD LACALAMITO, Director of Human Resources

As the Director of Property Management, Mrs. Nasife has responsibility for the

Mr. Lacalamito is the of Human Resources and Training for Ginkgo

management and operation of Ginkgo Residential’s multi-family portfolio. She

Residential. Since starting with Ginkgo Residential in February 2007, he has

directly oversees the support services for the property management division

been a valuable contributor for Human Resources in various functional

including operations, marketing, and asset management. Josie rejoined Ginkgo

levels. Currently, Rich oversees the day-to-day HR needs for all of Ginkgo’s

Residential in October 2015 after working with Fairfield Residential as a

properties. He partners with management to provide daily resolution for

Regional Manager for three years. Prior to Fairfield, she worked in several

various operational and HR issues. He provides advice and counsel to

capacities within Ginkgo Residential (and its predecessors) for over 11 years.

leadership and is an employee advocate ensuring consistent and fair

Josie holds various designations within the National Apartment Association

practices to all employees. He also provides support and guidance for

including NALP, CAM, and CAPS. She is a member of the Institute Real Estate

company-wide Talent Acquisition and Retention, Training, Salary

Management and a current CPM candidate.

Management, Benefits Management, Workers’ Compensation, Payroll and Leave Management. Rich is also responsible for promoting Best Practices through his strategic efforts updating company policies and procedures.

PHILLIP FOLEY, Director of Construction

Rich graduated from Wingate University with a Bachelor’s degree in Business Management. He is also certified as a Human Resources Professional (PHR).

Mr. Foley, a 29-year multifamily sector veteran, is responsible for the construction, maintenance and project management department at Ginkgo. He controls all aspects of training, coordinating, standardization, quality control and preventative maintenance. He also ensures a consistent quality of services across all properties owned or managed by Ginkgo. Phillip prepares the construction and design work specifications and oversees the coordination of renovation projects for Ginkgo. Phillip holds the national designation of Certified Apartment Maintenance Technician (“CAM-T”) and is a certified instructor for the Charlotte Apartment Association, where he teaches CAM-T and Certified Apartment Manager courses. Phillip was awarded the National Apartment Association’s prestigious Paragon Award for Maintenance Supervisor of the Year in 2002.

SAM SOLIE, Director of Investor Relations Mr. Solie joined Ginkgo Residential, LLC in 2019 as Director of Investor Relations. Prior to joining Ginkgo, Sam was an Executive Vice President and COO for a large group of businesses in Wells Fargo’s Wholesale Bank that included Real Estate Capital Markets, Asset Backed Finance, Equipment Finance, Capital Finance, and Corporate Trust. Prior of joining Wells Fargo, he was a Director at Tannery Brook Partners and was the Chief Operating Officer for Wachovia Bank’s Commercial Real Estate division. Sam’s work history also includes Lehman Brothers, Royal Bank of Canada, and CapitalThinking. He earned a Bachelor of Arts degree from the University of Wisconsin – Madison. He serves on the Board of Directors for McCracken Financial Solutions, and is a former Board Member of Wachovia Holdings International (Wachovia Bank Ireland), and Wachovia Finance Ireland, Ltd.

RESIDENTTESTIMONIES TESTIMONIES RESIDENT

501TownsTownsJan. 2021 501 Jan. 2021 “Specialthanks thanks the maintenance team that went above and beyond correctly previous maintenance “Special toto the maintenance team that went above and beyond to to correctly fixfix ourour previous maintenance problems.Mr. Mr. Charles a force reckoned with!!

Not sure how replaced dishwasher, toilets, and filters problems.

Charles is is a force toto bebe reckoned with!!

Not sure how hehe replaced ourour dishwasher, toilets, and airair filters witha aone one year old following him around, but did. stars is an understatement)” with year old following him around, but hehe did.

(5 (5 stars is an understatement)”

The atat ChasewoodDec. 2020 TheForest Forest ChasewoodDec. 2020 “Amy me from start toto finish.

The apartment is beautiful.

AllAll new appliances and very clean.

I'mI'm glad to make “Amyhelped helped me from start finish.

The apartment is beautiful. new appliances and very clean. glad to make Forest my new home.

The process was soso painless.

I HIGHLY RECOMMEND these apartments.

Thank ForestatatChasewood Chasewood my new home.

The process was painless.

I HIGHLY RECOMMEND these apartments.

Thank you atat Chasewood team!!!” youForest Forest Chasewood team!!!”

Northwoods TownhomesDec. 2020 Northwoods TownhomesDec. 2020 “I“Irecently moved here from NYNY and Crystal is is the best honestly!

I love this townhome it'sit's very comfortable and recently moved here from and Crystal the best honestly!

I love this townhome very comfortable and quiet and everyone's very friendly.

I had an minor issue with a leak and was immediately taken care of within minutes, quiet and everyone's very friendly. I had an minor issue with a leak and was immediately taken care of within minutes, along the application process and just making meme feel at at home she makes sure your well taken care of!of!

If your alongwith with the application process and just making feel home she makes sure your well taken care If your thinking about moving here, do not hesitate and DO IT!” thinking about moving here, do not hesitate and DO IT!”