M id A tlantic Real Estate Journal — Owners, Developers & Managers — June 2025 — 31
www.marej.com
O wners , D evelopers & M anagers
In-house property services reflect an owner’s approach Prism Capital Partners strengthens vertical integration to support multifamily pipeline
N
throughout the company’s 23- year history. Yet he acknowl - edges that residential real estate carries a very different group of operational variables. “This is a different world, from communication and ten - ant relations, to shorter leas - ing cycles and per-unit pric - ing that changes continually, to vast distinctions between commercial and multifamily accounting,” Cohen said. “De - veloping our residential plat - form required a deep dive, new knowledge, and the adoption of leading systems and software.
The result is a credit to Jon and our talented team.” The augmented in-house capabilities carry benefits be - yond resident satisfaction and retention; they solidify quality assurance across Prism’s mul - tifamily portfolio. “A real estate owner’s lens is different than a third-party manager’s lens when it comes to achieving key performance indicators,” Co - hen said. “We are continually looking to enhance the value of an asset, which is good for the bottom line and invaluable when it comes to investor and
partner relationships.” This focus and foresight will be mirrored in future multi - family design, development, management and leasing. Prism’s diversified portfolio also includes distinctive office, R&D, education, retail and industrial properties. The firm buys income-producing assets and undervalued properties, and implements value-added development and redevelop - ment initiatives. Prism em - braces projects with strong potential for creating value on both short- and long-term
bases. It prides itself on its role of developing sensitively, sensibly and smartly, and its projects regularly set Smart Growth benchmarks. Prism invests with insti - tutional and private capital sources that rely on the company’s ability to identify and realize the highest value potential in real estate en - deavors of all sizes. To date, the company, with its capital partners, has invested more than $1 billion in 20 proj - ects totaling over 5 million square feet. MAREJ
UTLEY, NJ — Prism Capital Partners is well known within the
New Jersey development arena for its award- w i n n i n g multifamily properties, including ground-up infill redevel -
Ed Cohen
opment and adaptive re-use of turn-of-the-century industrial buildings. Its three flagship luxury rental communities – The Nell in Dunellen, Avenue & Green in Woodbridge and Edison Lofts in West Orange – all maintain occupancy levels above 97%. This is, of course, a testa - ment to the strength of the regional market. But more so, it reflects Prism’s thought - ful site selection and design approach, and product that responds to the wants and needs of today’s renters. As Prism’s multifamily develop - ment pipeline continues to build, with anticipated growth of approximately 1,500 new units over the next several years, the firm is looking to the future. To that end, the company over the past three years has developed a customized resi - dential leasing and manage - ment platform, and staffed up with an impressive group of property management and leasing specialists under the direction of long-time team member Jon Hoff , president of Prism Property Services . In turn, Prism has taken prop - erty management and leasing for its multifamily portfolio in house, complementing its established commercial prop - erty management services and Prism Construction Management division. “This level of vertical inte - gration is atypical for a mid- size, privately held developer,” noted Prism Capital Partners’ Ed Cohen , principal partner. “Our motive was a desire to instill an owner’s approach to customer service and enhance the overall quality of our as - sets. That means being a top- notch provider of management services to our own portfolio.” Cohen added that Prism is no stranger to asset manage - ment, having successfully managed its commercial real estate portfolio, including highly complex facilities work,
YOUR LIABILITY INSURANCE UNQUESTIONABLY HAS A POLLUTION EXCLUSION That means no protection against direct and indirect liability losses, and property devaluation, caused by mold, bacteria, legionnaires disease, oil spillage, lead, and many more pollution-related claims. E. B. Cohen Insurance and Risk Management has solutions and coverages to fill this gap in your security.
GET A FREE RISK SURVEY AND NO OBLIGATION CONSULTATION TODAY
Made with FlippingBook - Online magazine maker