![]() ![]() Post college, he moved to Florida in 2000 and went to work for a multifamily company that controlled 3,000 units. #CALIBRE BEND APARTMENTS REVIEWS TRIAL#Through trial and error - and more error - he learned the value of effective property management. The company went through a years' long process of figuring out what worked and what didn't, Cochran says.Ĭochran became involved with apartment ownership while in college in Ohio, putting the down payment for his 10-unit building on his credit card. Insula's success didn't happen overnight, though. Cochran says effective property management and strategic capital infusions have been major factors that have driven Insula's success. Usually they're in good locations, and in a lot of cases, they're just properties that have been neglected.”Įrasing neglect has been another Insula hallmark. “The properties we're targeting are middle-of-the-road, market rate, workforce housing,” says Talbot, 37, who left a South Florida multifamily investment firm to join Insula. In 2015, Insula generated gross revenue of $34.35 million, a 27% increase from the year before, in large part by sticking to its playbook, its partners say. Today, its portfolio contains 18 multifamily projects with roughly 3,000 units, and the company employs more than 100. ![]() In all, Insula has invested more than $450 million since 2009 to buy more than two dozen rental communities containing some 5,000 apartments. ![]() Most recently, the firm in October spent $29 million to acquire the 212-unit Calibre Bend Apartments, in Winter Park. In 2016 alone, the company invested roughly $100 million to acquire three apartment projects, and over the past three years, it has either bought or sold more than $600 million worth of rental properties. Not that Insula hasn't expanded significantly throughout its seven-year history, however, or dealt complexes that would generate solid returns. I think if you grow too quickly, as is possible in this market, you can easily lose track.” “Our goal is to do good, solid deals, and we like to be very hands on, we like to be able to see the properties we're buying frequently. “We want to stay within a narrow focus,” says Cochran, 46, who founded Insula in 2009, despite the crippling economic recession at the time. Instead, Cochran and Talbot are content to maintain a fairly narrow focus on a niche of well-located, suburban multifamily communities that offer steady income streams and the opportunity for appreciation that comes with sound property management. Likewise, his partner Jeff Talbot looks upon the gleaming rental towers sprouting in urban areas along the Gulf Coast with a sort of awe.īut neither Insula Cos. Fred Cochran admires the apartment developers and investors who have been taking advantage of market conditions the past few years to swell their portfolios with new communities and thousands of units. ![]()
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