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MULTIFAMILY INVESTOR BUYING SPREE

Atlanta
MULTIFAMILY INVESTOR BUYING SPREE
Take a big part multifamily. Add in a dose of  mobile home parks. Sprinkle with some  for-rent housing. And what do you get? Cocke Finkelstein, that's what. (Throw in some grenadine and its called a Cocke Finkelstein Shirley Temple.)
 
COCK FINKELSTEIN 1801 PEACHTREE APARTMENTS MULTIFAMILY HOUSING
This morning, we sat down for a wide-ranging interview  with Cocke Finkelstein's execs, including CFO Todd McKissick. The investment firm has exploded in size in only a matter of months as it has aggressively purchased various housing and multifamily projects across the country. Most recently, the company hired former Lane Co exec  Dan Haefner, former Greystar exec Brooks Castellaw and former Trimont Real Estate exec Tim Solomon.
 
cocke finkelstein cfo mark mckissick pro forma apartments outperform pro forma
Todd says the company is still on its  buying spree, where it's expected to close on a number of apartment complexes in Florida and a mobile home park. For its apartments, Todd says the company typically invests in  established B and C  product that's cash flowing. And through operational improvements and what Todd terms as a comprehensive social program platform that helps residents with job searches and even skills training and literacy, the company has been able to ?outperform our pro forma in every case.? That has less to do with raw rental growth and more to do with improving turnover (declined 10% on average), keeping properties filled, and (finally) seeing concessions burn off.
allen rossum cocke finkelstein nfl atlanta falcons 1801 peachtree
We'll have more news from our interview next week. But we wanted to introduce you to another of Cocke Finkelstein's  more famous execs. The company just hired former NFL pro and Atlanta Falcon Allen Rossum  as a principal. Allen, who had to really twist our arm to buy a couple of boxes of Thin Mints from his daughter, has joined the company to help raise investment capital  from his NFL sources.