Real Estate Done Differently.
The Hirschfeld Companies
A Multi-Faceted Vertically Integrated Real Estate Company with a Reputation for Excellence.
What We Do
Hirschfeld Properties LLC is a multi-faceted vertically integrated real estate company engaged in the acquisition, development, leasing, management, and ownership of multifamily residential communities throughout the United States. The firm has been in business for over 60 years and has an unparalleled reputation for excellence and integrity that continues to grow with the company’s expanding activity.
Hirschfeld Properties’ primary focus is the acquisition, development and management of multifamily communities. The firm currently owns 2000 units and has increased all major performance metrics for its portfolio, including occupancy and net operating income, every year for the past ten years. Hirschfeld has a proprietary leasing and marketing program which results in industry leading performance, including average turnover of 35% versus an industry average of 45%. The company has a recognized brand name in each of the markets it operates, demonstrated by the fact that a top source of leasing traffic throughout its existing portfolio is resident referrals. Across its portfolio, Hirschfeld has seen significant occupancy increases, lower tenant turnover, consistently reduced or tightly controlled operating expenses and rent growth that has outpaced the competition.
Multifamily Value-Add Program
Hirschfeld Properties’ multifamily value-add program draws on its strong, proven history of sourcing and acquiring multifamily assets in its key markets in the Eastern seaboard and Sunbelt United States, where its hands-on operationally focused execution can be implemented.
We seek high-quality properties that are underperforming and can offer meaningful upside. These are predominantly stabilized properties available below replacement cost, where our operational improvement teams renovate outdated interiors and amenities to enhance intrinsic value and increase NOI. This is implemented through our proprietary tenant-in-place, one-day renovation process, which we believe is a competitive advantage to other players in the industry. Our one-day, tenant-in-place turnaround strategy facilitates higher retention and lower vacancies, which ultimately yields higher IRRs and MOICs – for every 100 units renovated we believe we can generate 70 bps of additional IRR.
We take a disciplined and conservative approach to executing our program. Our turnaround strategy is supported by a seasoned leadership team with over 200 years of combined experience in acquisitions, property management and asset management.
Hirschfeld Management Inc.
Hirschfeld Management, Inc. (HMI) provides best in class property management for the properties developed, acquired, owned, and managed by Hirschfeld Properties. All Hirschfeld multifamily communities have property management personnel on site to ensure that tenants’ needs are always satisfied. On-site property managers report to a regional property manager or Vice President and are empowered with P&L responsibility to run their communities as autonomous businesses for which they are fully accountable.
Hirschfeld’s philosophy is to operate all of the properties it manages at a very high standard while maintaining strong cost controls and budgetary discipline. The result is the Hirschfeld Management definition of value – outstanding operating benchmarks, delivering cost effective property maintenance and management at the highest possible standard.
Hirschfeld Management has an extensive and sophisticated property management and leasing platform. Hirschfeld multifamily assets have a significant internet presence via their own websites, blogs, social media pages and postings, as well as listings on industry leading listing sites. All of these resources are utilized together with continuous and ongoing search engine optimization to exploit the internet as the top source of traffic across Hirschfeld managed properties. The Hirschfeld platform has enabled its entire portfolio of apartment communities to generate increased net operating income and profits every year, year over year, since each respective property was acquired or completed. This sustained and superlative track record has been maintained during both major economic downturns of the last decade.
Real Estate Development
Hirschfeld Properties has extensive experience in ground up development. Drawing upon the company’s decades of development and construction experience, Hirschfeld Properties personnel undertake and complete the myriad tasks required of a commercial development company operating in today’s complex development climate.
Hirschfeld Properties is particularly well equipped to deal with the critical pre-development phase of a development project which determines the project’s viability both economically and in light of the development climate in the market the project is located.
The firm’s development and construction expertise consistently delivers superior construction work product at the best price and facilitates the completion of projects on-time and on-budget.
Hirschfeld Building Construction Company Inc.
Hirschfeld Building Construction Company, Inc. is a diversified commercial construction company engaged in the planning, design, and construction of multifamily apartments, shopping centers, office buildings, condominiums, hotels, and industrial facilities. The firm acts as both General Contractor and Construction Manager for Hirschfeld Properties and its affiliates.
By serving as the in-house construction arm of Hirschfeld, Hirschfeld Building Construction allows Hirschfeld Properties and Hirschfeld Management to tightly control costs and critical dates dependent upon the timely completion of construction work.
The company was founded in 1963 as Hirschfeld Brothers Construction Company and changed its name in 1983 to Hirschfeld Building Construction Company, Inc. Hirschfeld Brothers has been ranked by Building Design and Construction as one of the top 50 builders in the United States.
