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They've done really well this cycle (we'll see how their buys hold up over the long run) and have bought a lot of deals (do a lot of JVs and HNW syndications). They'll buy anything, anywhere with a modicum of value-add. They're also developing the first MF high-rise ever in Birmingham (or Alabama period); which I think is a colossal mistake, but if you've been betting against Steve DiFrancis, you've been losing money...

TLDR: Good (not great) MF shop, but would be really good experience. I like selling to them as they're fair on the contract negotiation side of things and they do what they say they're going to do. Comp is likely to be below or at market; hours should be fine. Culture is collegial, and my understanding from the outside is that it is a pretty good place to work.

 

I was trying to build a good sized aircraft hangar in Birmingham a little over two years ago and damn near every GC and sub was too busy for us. Not sure what else has been going on out there but seems some kind of growth has been happening.

Array
 

Here is what I know:

1) if you take their assessment, take it very seriously. They have an in-house psychiatrist that will read it and with zero feedback give a yes or no decision. Can't tell you what they are looking for, but I made it sound like I am social and failed. Further discussions made it seem like I " might be easily distracted". No pressure but it's the first time I've failed one of these. Hiring manager literally said he cringes to open them cause so many candidates get a no.

2) associate role can comp all in to $130k, but you'll need the qualifications. Otherwise 80k base 20k bonus.

 

I just took the initial assessment and have been invited to Atlanta for more "testing." This place just doesn't pass the sniff test though. I don't know. 300% growth? It seems really really bubbly and too good to be true.

 

Atlanta, on the other hand, is a cool place with a ton of options, if it doesn't work out for you

Commercial Real Estate Developer
 

It is literally what @JJP1234 said earlier. You need to get past the 3 hour, 600 question, personality assessment first. If you don't get the yes, you are not getting hired. Also, just bc they are aiming for 300% growth in 3 years doesn't mean they will hit it. Cortland is known for "getting shit done" for a reason, and they have a regional office in China that partners with a dozen manufacturers which drives their CapEx down and their Profit Margin up.

 

I work for an institutional LP firm and come from MF REPE. We have done deals with Cortland and are in fact trying to expand our relationship with Cortland. As therube mentioned, their proprietary/in-house manufacturing strategy sets them apart from a lot of their competition, and they have assembled a great team of very smart, seasoned MF guys.

Cherry on top is that I really like the look/feel/functionality of their acquisition model.

 

Cortland is a huge firm that is only getting larger and they're well capitalized. They also have traditionally been a player in the B and C class markets and have only recently moved to Class A product. On the acquisitions side, they've found great success. On the development side, they were a comical failure, delivered everything late (including one project almost a year late), and everyone on the development team got reassigned or let go. They have recently started building a new team, hiring a VP and an Analyst of sorts, and are looking for a DM to run the projects. 

It really comes down to your personal risk tolerance and your preferences. If you know your shit, this could be a great opportunity to jump in, prove yourself quickly, rise up the ranks, etc. and really make the development platform your own as the #2 person on the team. Or, it could be a absolute dumpster fire again, because they are generally inexperienced at development and are restarting from scratch. 

This is a group that seems to want to be the next Greystar. Could be exciting to help them accomplish that. 

 

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