CMJ Apartments

What CMJ Apartments does

CMJ Apartments, operating under the Corcoran Jennison Companies umbrella founded in 1971, is a vertically integrated residential and commercial property manager headquartered at 150 Mount Vernon Street, Dorchester, Massachusetts. The firm manages 13,600-24,000+ residential units and 600,000+ square feet of commercial space across 15 states, spanning market-rate, affordable (Section 8, LIHTC), senior, disabled, and workforce housing communities, alongside commercial office, retail, mixed-use, and hospitality properties. Revenue is generated through recurring rental income at owned properties and managed-services fees for third-party owners, with selective hospitality revenue from owned-and-operated assets such as Ocean Edge and the Doubletree Hotel Boston. The customer base includes individual residential tenants, government-subsidized residents, commercial tenants, and institutional property owners, with HUD and local housing authorities as anchor program partners.

Operations are built on a centralized web-based property management platform, with RealPage/OneSite handling lease administration, application processing, and electronic file auditing across the portfolio, and Elise AI layered on top for leasing, collections, and voice communications. Resident engagement is supported by Matterport/Engrain virtual tour content and a branded CJ Excellence Program that uses the Satisfacts survey instrument for satisfaction measurement. The technology stack is industry-standard for institutional property management rather than proprietary, with the moat more concentrated in compliance expertise and operational execution than in software.

The go-to-market motion is direct-to-consumer for residential leasing via property-specific websites and onsite leasing consultants, combined with enterprise field sales led by Regional Property Managers (e.g., Ryan Bettez in MA/MD/PA/DC managing $58M of revenue across 148 buildings, and Karen O'Rourke covering 1,498 New England units). Distribution into subsidized housing is intermediated by HUD and local housing authorities. The model is built for steady, geographically diffuse operations with the company's 15-year average employee retention, 20+ year resident tenures, and 50+ year corporate history reinforcing a low-velocity, stability-oriented profile.

Name

CMJ Apartments

Legal name

CJ Management LLC

Website

https://cjmanagement.com

Company type

Private

Founded year

1971

Operating status

Operating

Short description

CMJ Apartments, under the Corcoran Jennison Companies umbrella (founded 1971), manages market-rate, affordable (Section 8/LIHTC), senior, and workforce housing totaling 24,000+ residential units plus 600,000+ sq ft of commercial space across 15 states, serving individual tenants, government program participants, and property owners.

Ownership category

akta.pro rank

Product category

Residential Property Management

NAICS

Rental and Leasing Services (532)

SIC

Operators Of Apartment Buildings (6513), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

Keywords

• Residential property management
• Affordable housing management
• Multifamily housing services
• Commercial property management
• Apartment leasing services

Headquarters

HQ city

Dorchester

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Residential Rental Income: Primary revenue stream from managing over 24,000 residential units across 15 states, including market-rate, affordable (Section 8, LIHTC), senior, and workforce housing communities. Rental income from 1, 2, and 3 bedroom apartments and townhomes.
2. Commercial Property Management: Revenue from managing over 600,000 square feet of commercial space including office, retail, flex, mixed-use, and specialty centers. Properties include state and federal government offices, legal, medical, and educational facilities, national and local retailers, the hotel sector, and resort industry.
3. Hospitality Management: CJ Hospitality provides asset and property management services for hotels, resorts, golf courses, and conference centers. Revenue from both management fees and ownership of hospitality properties (Ocean Edge resort, Doubletree Hotel, etc.).
4. Section 8 and LIHTC Government Contracts: Revenue from government-subsidized housing programs including Section 8, Low Income Housing Tax Credit (LIHTC), and programs administered through local housing authorities. Properties like Millbrook Square (Section-8), Harbor Point on the Bay (affordable), and multiple senior/disabled communities participate in these programs.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

CMJ Apartments, under the Corcoran Jennison Companies umbrella, manages market-rate and affordable residential communities across 15 states with over 24,000 residential units, plus over 600,000 square feet of commercial space. The company revitalizes failing developments into thriving communities and operates 16 named residential communities ranging from affordable housing (Section 8, LIHTC) to luxury apartments, as well as senior and disabled housing, workforce housing, and commercial properties including offices, retail, and mixed-use centers.

Product overview

CMJ Apartments operates under Corcoran Jennison Management, an affiliated full-service property management company managing a diverse portfolio across 15 states with over 24,000 residential units and 600,000+ square feet of commercial space. The company manages 16 named residential communities ranging from affordable housing to luxury apartments, including Harbor Point on the Bay, Townhomes on Capitol Hill, Oak Hill Apartments, Residences at Malden Station, and various senior/disabled communities. The portfolio includes market-rate, affordable (Section 8, LIHTC), and workforce housing. CJ Management offers residential property management services alongside CJ Commercial for commercial properties and CJ Hospitality for hotels, resorts, and golf courses. The company has been in operation since 1971 and was recognized as Property Management Company of the Year by the National Association of Homebuilders.

Differentiator

Problem solved

Functional benefit

Products and services

• Harbor Point on the Bay

Quantifiable outcome

• 24,000+ residential units managed across 15 states; 600,000+ sq ft commercial space
• +6 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Beacon ResidentialcoreStrategic or Co-development PartnerCorcoran Jennison partnered with Beacon Residential and Allequippa residents and the City of Pittsburgh to transform the blighted Allequippa Terrace (nearly half of 1,750 homes uninhabitable, others lacking basic amenities) into Oak Hill, a mixed rental and for-sale community with market-rate and affordable homes. This was a flagship public-private partnership urban revitalization project.
• City of Pittsburgh / Pittsburgh Housing AuthoritycoreOthersPublic-private partnership with the Pittsburgh Housing Authority for the HOPE VI conversion of Allequippa Terrace public housing into mixed-income housing at Oak Hill. Also involved in HOPE VI conversions at multiple properties.
• HUD (U.S. Department of Housing and Urban Development)coreOthersOngoing partnership with HUD for refinance processes and government-subsidized housing programs. Karen O'Rourke oversees critical and non-critical on-site refinance processes with final presentations organized for HUD.
• Local Housing AuthoritiescoreOthersPartnerships with local housing authorities across 15 states for administration of Section 8, LIHTC, and other affordable housing programs. Marie Morreale serves as primary liaison between CJ and all local, state, and federal agencies for compliance matters.
• Emmanuel CollegeminorStrategic or Co-development PartnerCorcoran Jennison was retained by Emmanuel College to oversee development of medical research facilities in Boston's Longwood Medical Area. The result was the 300,000 sq ft, 12-story Merck Boston Research Center, enabling the college to increase its endowment and complete campus renovations.
• Palace Theatre / Stamford CTminorStrategic or Co-development PartnerCorcoran Jennison was chosen to redevelop a downtown Stamford parcel adjacent to the Palace Theatre and new Majestic Theatre, creating Park Square West with four luxury buildings (540 apartments, 20% affordable) and 24-hour retail/entertainment amenities to rejuvenate downtown Stamford.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• JLL (Jones Lang LaSalle): Global real estate services platform with significant multifamily and commercial property management lines. Comparable to CMJ/CJ Commercial on commercial and large-portfolio residential management at much larger scale.
• Cushman & Wakefield: Global commercial real estate services firm providing property management, leasing, and valuation across office, retail, and multifamily. Comparable to CJ Commercial on the commercial property management side and to CMJ on the residential valuation/advisory side.
• FirstService Residential: Large North American residential property management firm managing thousands of communities across the US. Comparable to CMJ on operational property management and resident services focus.
• Related Companies: Large diversified real estate firm combining development and property management of affordable, mixed-income, and market-rate housing. Comparable to CMJ given the integrated development + management model and affordable housing scale.

Direct peers

• Greystar Real Estate Partners: Largest US multifamily property management company managing ~800,000 units across the country. Direct peer to CMJ given the same core business of operating large-scale residential rental portfolios for institutional owners.
• WinnCompanies: Boston-based multifamily developer and manager with a strong affordable housing and Section 8/LIHTC portfolio. Most directly comparable peer to CMJ given overlapping geography, affordable housing concentration, and mixed-income property focus.
• Lincoln Property Company: National residential and commercial property management firm operating ~200,000+ multifamily units. Comparable to CMJ as a scaled third-party manager serving institutional owners across market-rate and affordable segments.
• The Bozzuto Group: Mid-Atlantic and Northeast-focused residential property manager, developer, and homebuilder managing tens of thousands of multifamily units. Comparable to CMJ on East Coast multifamily management with similar regional density.
• Avenue5 Residential: National multifamily property management firm with ~150,000+ units under management across the US. Direct peer to CMJ given the third-party management focus and similar operating leverage model.
• Beacon Residential: Affordable and mixed-income housing developer and manager with overlapping affordable housing expertise. Direct peer to CMJ in the affordable/LIHTC space and a historical joint venture partner on the Oak Hill HOPE VI conversion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/foxwood-manor-apartments

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 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 CMJ Apartments