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.
There are 2 current areas of focus for Hirschfeld – luxury residential development focused on south Florida, and value-add multifamily acquisitions across the firm’s footprint. 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. 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predominantly stabilized properties available below replacement cost, where our operational improvement teams renovate outdated interiors and amenities to enhance intrinsic value and increase NOI.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.
Luxury Residential
Hirschfeld Properties is currently developing landmark luxury residential projects in south Florida. Located in high-barrier to entry locations and leading sub-markets, the developments feature superlative design and a unique lifestyle experience.
Projects include both branded and unbranded luxury residences. Some are co-located and branded with 6-star ultra luxury hotels with those hotel services and infrastructure available for residents and providing ultimate turnkey living.
Hospitality
Hirschfeld is developing 6-star ultra luxury hotels in conjunction with and as a part of its luxury residential developments in south Florida. International hoteliers without a current US presence are co-located with and incorporated into luxury residential projects providing a hotel component, as well as best-in-class services and infrastructure to residential owners. Resident benefits include 24/7 white-glove concierge, personal butler, valet parking, and in-room private dining. Amenities include direct access to world-class spas, private fitness centers, rooftop pools, and fine-dining restaurants.
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.
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 Company, Inc. 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.
