Cohen Esrey Real Estate

Name

Cohen Esrey Real Estate

Legal name

Cohen-Esrey, LLC

Website

https://cohenesrey.com

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Overland Park

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Property Management Fees: Cohen-Esrey Communities (CEC) provides property management services for apartment investors, generating recurring management fees based on managed units and properties.
2. Apartment Acquisitions and Dispositions: Cohen-Esrey Apartment Investors (CEAI) acquires, renovates, and disposes of Class B apartment communities. Revenue generated through appreciation, rental income, and capital gains on property sales. Properties typically require $3,000-$10,000 per unit in physical improvements.
3. Tax Credit Syndication: Cohen-Esrey Capital Partners (CECP) syndicates federal historic tax credits, state historic tax credits, and state affordable housing tax credits. Has placed more than $700 million in tax credits for own developments and third-party developers. Revenue generated through syndication fees and fund management.
4. Fund Management: Management of programmatic apartment investment funds (Fund XXIII, Fund 24, Fund 25) for institutional and accredited investors. Generates co-investment equity returns and fund management fees.
5. Development Services: Cohen-Esrey Development Group (CEDG) develops affordable workforce and senior multifamily housing. Entered affordable housing space in 1994 with 91 projects totaling nearly 8,000 units, approximately $900 million in total development cost.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels6 records

Core offering

Cohen-Esrey is a diversified multifamily real estate investment, development, and management company that acquires, renovates, develops, and manages Class B apartment communities. The company operates through four core business units: Cohen-Esrey Apartment Investors (CEAI) for acquisitions, Cohen-Esrey Development Group (CEDG) for affordable/workforce/senior housing development, Cohen-Esrey Communities (CEC) for property management, and Cohen-Esrey Capital Partners (CECP) for tax credit syndication. The firm manages 82,000+ apartment units across 644 properties in 22+ states and sources capital from institutional and accredited investors through programmatic funds (CEAI Funds XXIII, 24, 25).

Product overview

Cohen-Esrey operates as a diversified real estate investment and management company with multiple interconnected business units. The core offerings include: Cohen-Esrey Communities (CEC) for property management; Cohen-Esrey Apartment Investors (CEAI) for acquisitions; Cohen-Esrey Development Group (CEDG) for development; and Cohen-Esrey Capital Partners (CECP) for capital formation and tax credit syndication. Supporting these are Nexus 5 Group (general contractor services) and iiM (Innovation in Motion, funding platform for early-stage companies). The company also operates internal technology platforms including OASYS (Operational Alignment System) for operational procedures and KNET (Knowledge Net) for property performance analytics.

Differentiator

Problem solved

Functional benefit

Products and services

• Cohen-Esrey Communities (CEC) Property Management Property management services for apartment investors, providing centralized marketing, technology-enabled operations, resident customer fulfillment, and full operational oversight for 644 properties and 82,000+ units across 22+ states.
• Cohen-Esrey Apartment Investors (CEAI) Acquisitions Acquisition, renovation, and disposition of Class B apartment communities of 200-600 units in dynamic U.S. markets with strong job growth, population growth, and rent growth. Targets value-add opportunities with $3,000-$10,000 per unit in physical improvements and programmatic fund vehicles (Funds XXIII, 24, 25).
• Cohen-Esrey Development Group (CEDG) Development Services Development of affordable workforce and senior multifamily housing using complex multi-layered funding strategies (tax credits, tax-exempt bonds, TIF, CDBG, HOME funds, HUD financing, Opportunity Zones). 91 projects, ~8,000 units, ~$900M total development cost since 2013.
• Cohen-Esrey Capital Partners (CECP) Tax Credit Syndication Syndication of federal historic tax credits, state historic tax credits, and state affordable housing tax credits for the firm's own developments and for third-party developers. Has placed more than $700 million in tax credits, including the Heartland Historic Preservation Funds (HHPF series).

Quantifiable outcome

• 22.01% actual weighted IRR on disposition track record
• +7 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability1 record

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Nexus 5 GroupcoreOthersNexus 5 Group is a General Contractor and Mechanical Service Provider that serves Metro Kansas City and undertakes apartment renovation projects nationwide. It is a related company within the Cohen-Esrey family of companies, overseen by Managing Director John Hinman.
• iiM (Innovation in Motion)coreOthersiiM is a funding platform for early-stage companies bringing innovation and disruption to the agriculture, energy, animal health, and human health sectors. It is a related company within the Cohen-Esrey family.
• NorthmarqminorChannel Partner/ Reseller/ DistributorBrokerage firm hired to market the Fairways at Lincoln property. Utilized their network to leverage buyer relationships across the industry, collecting 24 written LOIs from investors across 15 states and 2 countries.
• Housing Authority of Bexar CountyminorOthersPartnered with Cohen-Esrey Development Group on Lofts at Ventura to receive property tax abatement and provide bonds that helped leverage additional debt to complete the project.
• First Avenue Asset Management Corp.minorOthersAsset management firm founded by Stefan Zajczenko, providing asset management and valuation services to Cohen-Esrey. Stefan serves as Asset Manager for Cohen-Esrey while maintaining his role as Principal at First Avenue.

Scale indicators23 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Lincoln Property Company: Major US multifamily property management, investment, and development firm managing 200,000+ units nationwide. Closely comparable operating model combining fee-based PM with principal investment activity.
• Hunt Companies: Diversified real estate investment firm with significant affordable housing LIHTC syndication and development operations. Comparable tax credit syndication and affordable housing investment capabilities.
• National Equity Fund: Major LIHTC syndicator and affordable housing investor with $20B+ in tax credit equity deployed. Comparable tax credit syndication and affordable housing fund management business to Cohen-Esrey Capital Partners.
• Bozzuto Group: Privately held multifamily developer, owner, and manager with 80,000+ units under management. Similar size profile to Cohen-Esrey with comparable vertical integration across investment, development, and property management.
• Pinnacle Property Management: National multifamily property management firm managing 170,000+ units including conventional and affordable. Comparable scale and mixed conventional/affordable portfolio focus.
• Greystar Real Estate Partners: Largest US apartment property manager and investor with approximately 800,000+ units under management. Directly comparable as a vertically integrated multifamily operator with investment, development, and property management capabilities.
• The Michaels Organization: Family-owned multifamily developer and manager with strong affordable housing focus. Closely comparable to Cohen-Esrey in ownership structure, vertical integration, and affordable housing emphasis.
• Asset Living: Top-five US multifamily property manager with 200,000+ units across conventional, affordable, and student housing. Comparable third-party PM scale and affordable housing compliance expertise.
• WinnCompanies: Multifamily developer, owner, and manager with deep affordable housing expertise. Directly comparable affordable housing LIHTC and HUD program execution alongside market-rate operations.

Broad incumbents

• JLL (Jones Lang LaSalle): Global commercial real estate services and investment management firm with multifamily investment and PM capabilities. Broader incumbent in the same real estate services space as Cohen-Esrey's investment and PM business.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cohen-esrey-real-estate-services-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cohen Esrey Real Estate