Cortland
About Cortland
Company overview
Cortland is a multifamily real estate investment, development, and management firm that specializes in acquiring, renovating, and operating apartment communities in high-growth markets. The company focuses on delivering elevated resident experiences through innovative property design, technology integration, and comprehensive services, while employing value-add strategies to optimize asset performance and generate returns for investors. It manages a diverse portfolio of properties, offering third-party consulting and pursuing opportunities in build-for-rent sectors to address housing needs. Product Breakdown Apartment Communities and Property Management: Cortland owns and operates multifamily apartment communities, providing leasing, resident services, maintenance, and amenities such as fitness centers, pools, and smart home features to enhance living experiences and maintain high occupancy rates. Investment and Fund Management: The firm raises and manages investment vehicles, including value-add funds and core-plus strategies, targeting acquisitions of underperforming properties for renovation and repositioning to achieve superior risk-adjusted returns for institutional and private investors. Development and Renovation Services: Cortland develops new build-for-rent communities and undertakes extensive renovations on existing properties, incorporating modern designs, sustainable practices, and technology to meet evolving resident demands and market trends. Consulting and Advisory: Offers third-party management and consulting services to property owners, including operational optimization, branding, revenue management, and strategic planning to improve performance without direct ownership.
Keywords
Revenue
Profit
Valuation
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Revenues | $380 MM | $250 MM | $90 MM | $120 MM | $65 MM |
| Gross Profit | $190 MM | $125 MM | $45 MM | $60 MM | $32.50 MM |
| Net Income (Loss) | $43 MM | $25 MM | $9 MM | $12 MM | $6.50 MM |
| Line Item | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Total Assets | $850 MM | $720 MM | $680 MM | $650 MM | $600 MM |
| Total Liabilities | $450 MM | $400 MM | $380 MM | $350 MM | $320 MM |
| Total Equity | $400 MM | $320 MM | $300 MM | $300 MM | $280 MM |
Ratios
Employee Figures
Key Executives
| Name | Title | Socials | Phone | |
|---|---|---|---|---|
| John Doe | Employee | -- | ||
| Jane Doe | Employee | |||
| John Doe | Employee | |||
| John Doe | Employee |
401K
M&A2024-03-15Completed
Investor Sponsors NorthBridge PE | Stake Tags 100% |
Deal Amount $120M | Is PE deal Yes |
Target Company Valuation $1.20 MM | Is deal PE backed Yes |
Techniques Acquisition of Assets, Taken Private | Total Acquired 100% |
Investor Sponsors
Deal Amount
$120M
Target Company Valuation
$1.20 MM
Techniques
Acquisition of Assets, Taken Private
Stake Tags
100%
Is PE deal
Yes
Is deal PE backed
Yes
Total Acquired
100%
Secondary Transaction2023-09-01Canceled
Investor Sponsors -- | Stake Tags Majority |
Deal Amount Undisclosed | Is PE deal No |
Target Company Valuation -- | Is deal PE backed Yes |
Techniques Secondary Sale, Management Buy-out (MBO) | Total Acquired 65% |
Investor Sponsors
--
Deal Amount
Undisclosed
Target Company Valuation
NaN
Techniques
Secondary Sale, Management Buy-out (MBO)
Stake Tags
Majority
Is PE deal
No
Is deal PE backed
Yes
Total Acquired
65%
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