ATLANTA, GA - Less than a year after its formation, rapidly growing CFLane has made the National Multi Housing Council’s (NMHC) prestigious annual ranking of the 50 largest apartment managers in the nation. The firm came in at No. 34, with 38,059 units under management as of Jan. 1, 2014, in the just-released 2014 ranking.
“We are extremely excited about our ranking and anticipate moving up the list next year, as our firm continues to aggressively expand our presence, particularly in the Mid-Atlantic region,” said Byron Cocke, co-CEO of CFLane.
CFLane was created in April 2013 when Atlanta-based Cocke Finkelstein Inc. (CFI), a full-service multifamily investment and consulting firm, acquired Atlanta based Lane Cos. Prior to the acquisition, CFI managed approximately 10,000 apartment units and Lane Cos. managed about 18,000 units. After the merger, CFLane quickly acquired new management contracts totaling more than 10,000 units.
CFLane ended 2013 with more than 38,000 apartment units in 18 states under management, in a region stretching from Maryland to Nevada. The last three months of the year were particularly active, as CFLane took over the management of 50 properties.
CFLane’s portfolio features all types of apartment communities, from rehabilitation projects to Class-A properties, and includes communities owned by CFI as well as third parties. In 2014, CFLane expects to add additional units in the Mid-Atlantic markets of Maryland, North Carolina and Virginia — states that feature numerous large metropolitan areas, favorable demographics and solid operating fundamentals.
“We are extremely optimistic about the apartment sector and firmly believe it will continue to perform very well in the years ahead,” Cocke said. “When you combine the underlying healthy apartment market with our experience, expertise and commitment to creating quality communities, it produces a fantastic environment for us to grow our firm and generate great returns for our clients.”
About CFLane: As an affiliated entity of Cocke, Finkelstein, Inc. (CFI), Atlanta-based CFLane manages owned and third-party multifamily real estate. It currently manages approximately 40,000 apartment units in 18 states in a region stretching from Maryland to Nevada. The services it provides for apartment owners include property operations; general contracting, construction management and capital improvement programs; property inspections and due diligence; compliance; accounting, budgeting and reporting; human resources and payroll, technology solutions, legal; and taxes and insurance.