mill creek in 10 q42014
TRANSCRIPT
PEOPLE. RELATIONSHIPS.PLACES.
Mill Creek in 10.A Company Overview for New Mill Creek
Associates.
Welcome to Mill Creek! We’re glad you’re here.
There’s a lot to take in when you’re new, like:
We understand.
Where to find pensYour email passwordThe best lunch spot
How to work the coffee machine The ins and outs of Mill Creek
And we’re here to help. (Especially with the last one.)
Give us 10 minutes. We’ll teach you 10 things that are
good to know about Mill Creek.
Mill Creek in 10.
I N T R O D U C I N G
You’re about to get Mill Creek smart. Ready?
Trilogy NoMaWASHINGTON, DC І DEVELOPMENT І 603 HOMES
Let’s start at the beginning: our mission
& values.
Mill Creek Residential develops, acquires and operates high-quality apartment communities in desirable locations coast-to-coast.
While we are a national company, we immerse ourselves in our chosen markets – living and working in the communities where we operate.
We combine our deep understanding of each market with 30+ years of expertise and a fresh innovative approach to the apartment industry, to build relationships and places in which people thrive – creating real and enduring value for our residents, investors and associates.
Welcome to Mill Creek!
Mill Creek’s mission and values unify our teams and guide our actions to do the right thing for our associates, residents and stakeholders.
Our company tagline – People. Places. Relationships. – serves as a reminder of this intent. The places and relationships we build with each other, our customers and our stakeholders in turn builds the Mill Creek culture.
It’s what makes us different from other apartment companies. Take a look….
OUR MISSIONEnhance lives by creating great living environments.
VALUE #1: UNCOMPROMISING INTEGRITYPeople do business with people they trust. We treat all our stakeholders – residents, associates, investors, local constituents and vendors – fairly and honestly. We take our commitments seriously, and do the right thing. Because without trust, nothing else matters.
VALUE #2: WORK HARD, SMART & TOGETHERWe know Mill Creek is stronger when we work together to achieve a common goal. Like an athletic team at the top of their game, we're strategic, fluid, beautifully synchronized, and driven to achieve the best of our collective potential.
VALUE #3: LIVE BALANCED LIVESMill Creek embraces a work hard / play hard culture. We believe that it’s important to enjoy our lives at work - and also at home
and leisure. We strive to deliver a supportive, flexible work environment while providing benefits and services that help
to create peace of mind for Mill Creekassociates in their lives outside of work.
VALUE #4: CELEBRATE SUCCESSESWe strive to provide our teams with the tools and resources they need to succeed and achieve their highest potential. We recognize effort, reward results, and celebrate successes.
VALUE #5: CONTINUOUS IMPROVEMENTWe believe in challenging the status quo and that the challenge should be fun and inspiring. Through innovation and iteration, we set aggressive standards that stretch and encourage us as leaders in the apartment industry.
VALUE #6: BE THE BEST, THE REST WILL FOLLOWAt Mill Creek, "great" is our starting point. Wonderful and
creative things happen when we work hard, smart, and together to be better tomorrow than we are today.
This is right about the time our associates start to feel really
really excited. But wait. There’s more!
Avenir PlaceMERRIFIELD, VIRGINIA І DEVELOPMENT І 628 HOMES
There’s a good story behind the Mill Creek
name.
This is Trammell Crow. A real estate visionary.
Many of us are inspired by the vision of real estate pioneer Trammell Crow. “Mill Creek” was the name of Mr. Crow’s Texas retreat and tree farm which he said was his favorite place in the world.
In 2010, a team of former Trammell Crow Residential executives created Mill Creek Residential Trust - a fresh new company with a long and rich history.
We decided to name our company Mill Creek as an homage to Mr. Crow, who in his own way inspired this whole enterprise.
Modera Coral GablesMIAMI, FLORIDA І DEVELOPMENT І 237 HOMES
We develop, build, acquire & manage apartment
homes.
We develop luxuryapartment communities coast to coast.
Modera MineolaLONG ISLAND, NY І DEVELOPMENT І 275 HOMES
OUR DEVELOPMENT TEAMS ARE LOCAL EXPERTS WHO SOURCE THE LAND AND RESOURCES TO BUILD LUXURY APARTMENT COMMUNITIES FROM THE GROUND UP IN THE NATION’S BEST APARTMENT MARKETS.
We build our own
communities.
The GantrySAN FRANCISCO, CALIFORNIA І DEVELOPMENT І 105 HOMES
OUR CONSTRUCTION TEAMS WORK CLOSELY WITH OUR DEVELOPMENT TEAMS & OVERSEE THE ENTIRE CONSTRUCTION PROCESS FROM PLANNING TO MOVE-INS.
Together, our development & construction teams have built a formidable portfolio of nearly 15,000 homes since 2011.Modera at LagunaLAGUNA NIGUEL, CALIFORNIA І DEVELOPMENT І 284 HOMES
Q
Port Royale ApartmentsFT. LAUDERDALE І ACQUISITION I 555 HOMES
We acquire value-priced communities.WE EMPLOY A “BUY WHERE WE BUILD” STRATEGY TO ACQUIRE COMMUNITIES IN MARKETS WHERE WE DEVELOP. THEN, WE UPGRADE FINISHES AND AMENITIES TO MAXIMIZE VALUE.
We manage our communities
OUR TEAM OF LIKABLE EXPERTS ARE POISED TO HELP OUR CUSTOMERS GET THE APARTMENT THEY WANT AND ENSURE THEY STAY HAPPY.
Nice commitment!
Modera GlendaleGLENDALE, CALIFORNIA І DEVELOPMENT І 235 HOMES
We’re on the national scene – and growing.
YEAR FOUNDED
2010
TOTAL # OF COMMUNITIES (OPERATING, IN DEVELOPMENT 2015/IN PLANNING thru 2017)
45/82
77DEVELOPMENT COMMUNITIES (CURRENT & PROJECTED)
TOTAL # OF APARTMENT HOMES (OPERATING, IN DEVELOPMENT & IN
PLANNING THRU 2017) *14K THRU 2015
24,0005
ACQUSITION COMMUNITIES
(CURRENT)
MILL CREEK REGIONS
8MILL CREEK
CHOSEN MARKETS
14
TOTAL MARKET CAP
$6.6 B
# OF ASSOCIATES 2015
500
Mill Creek by the numbers
Modera at MosaicFAIRFAX COUNTY, VIRGINIA І DEVELOPMENT І 266 HOMES
RANKING ON MFE’S TOP 25 BUILDERS LIST FOR 2014
#2
Rock on, Mill Creek. Rock on!
The DouglasDENVER, COLORADO І DEVELOPMENT І 310 HOMES
Our chosen markets
Mill Creek has a presence in 14 marketsCOMMUNITIES OPERATING, IN DEVELOPMENT & IN PLANNING
SEATTLE
PORTLAND
PACIFIC NORTHWEST2,519 HOMES (9%)
DENVER
MOUNTAIN STATES1,645 HOMES (6%)
SOUTHERN CALIFORNIA1,498 HOMES (5%)
SAN FRANCISCO BAY AREA
ORANGE COUNTY
NORTHERNCALIFORNIA1,219 HOMES (4%)
SOUTHEAST7,589 HOMES (26%)
ATLANTA
TAMPA / ST. PETE SOUTH
FLORIDA/ MIAMI
MID-ATLANTIC4,853 HOMES (17%)
GREATER WASHINGTON DC METRO AREA
NORTHEAST4,943 HOMES (17%)
BOSTON
NEW YORK
NEW JERSEY
TEXAS4,412 HOMES (16%)
DALLAS
AUSTINHOUSTON
This national presence is brought to you by our local
experts.
The Casey 2100 DelganyDENVER I DEVELOPMENT I 187 HOMES
Our portfolio spans all asset types.
Modera Jefferson StreetPORTLAND І DEVELOPMENT І 134 HOMES
PodiumMID-RISE OVER PARKING
Modera Spring Town CenterHOUSTON І DEVELOPMENT І 396 HOMES
Garden-style & townhomes
Arpeggio at Victory ParkDALLAS І MERCHANT DEVELOPMENT І 377 HOMES
Wrap AKA THE TEXAS DONUT; HOMES “WRAP” AROUND GARAGE PARKING
Modera Prime 235ST. PETERSBURG, FLORIDA I DEVELOPMENT I 309 HOMES
Concrete mid-riseCOMMUNITIES UP TO SEVEN STORIES
Modera Morningside ATLANTA I DEVELOPMENT I 300 HOMES
Mixed-use with retailAPARTMENTS OVER LARGE-SCALE RETAIL – LIKE GROCERY STORES – OVER PODIUM PARKING
Skye at BelltownSEATTLE I ACQUUISITION I 360 HOMES
High-riseCOMMUNITIES EIGHT STORIES & HIGHER
We have just one word: Wow!
Modera DadelandMIAMI І DEVELOPMENT І 350 HOMES
We’re building a national brand: Modera® by Mill
Creek.
As we assume our place among the best apartment companies in the country, we will advance Mill Creek’s reputation as a leader in luxury apartment living through a national branding strategy.
Modera TempoALEXANDRIA, VIRGINIA І DEVELOPMENT І 492 HOMES
FOR OUR CUSTOMERS:• Brands simplify the decision-
making process• Customers will pay a premium
for differentiated brands• Improved customer loyalty &
retention• Reduced customer acquisition
costs
Why build a national Modera brand?
FOR OUR ASSOCIATES:• Optimize time and resources• Simplify the marketing
onboarding process• Attract and retain the best
people• Improved engagement,
morale and pride
FOR OUR INVESTORS:• If we implement and support
the brand correctly, make it stand for something, investors will assign higher valuation to Mill Creek
Introducing the new Modera logo
We asked our residents, customers & associates to vote on their favorite Modera logo. This one was the winner, capturing
46% of the total votes!This logo will be implemented across our national portfolio.
Zilkr on the ParkAUSTIN, TEXAS І DEVELOPMENT І 213 HOMES
Our leadership team is among the best in the
business.
Mill Creek’s Management Committee
DALLAS HEADQUARTERS
FUN FACT: CHARLIE IS AN EXPERT FLY FISHERMAN.
CHARLIE BRINDELLCHIEF EXECUTIVE OFFICER
WASHINGTON, DC OFFICE
FUN FACT: BILL WAS A COLLEGE FOOTBALL PLAYER.
BOCA RATON OFFICE
FUN FACT: IF YOU’RE LOOKING FOR MIKE, CHECK THE TENNS COURTS.
WASHINGTON, DC OFFICE
FUN FACT: SHERRY RUNS AN ALL- GIRLS CAMP IN THE SUMMER.
SHERRY BROWNCHIEF FINANCE OFFICER
MIKE HEFLEYCHIEF OPERATIONS OFFICER
BILL MACDONALDCHIEF INVESTMENT OFFICER
WASHINGTON, DC OFFICEFUN FACT: CHIP IS A HUGE VAN HALEN FAN.
CHIP BAYEXECUTIVE MANAGING DIRECTOR, CONSTRUCTION
DALLAS HEADQUARTERSFUN FACT: MARK IS A PROUD TEXAS ALUMNI.
MARK DEMPSEYEXECUTIVE MANAGING DIRECTOR, ACQUISITIONS
CONNECTICUT OFFICEFUN FACT: PEOPLE OFTEN MISTAKE MIKE FOR CHEVY CHASE.
MICHAEL MELAUGHEXECUTIVE MANAGING DIRECTOR, CAPTIAL MARKETS
Go team!
Watertown MewsWATERTOWN, MASSACHUSETTS І DEVELOPMENT І 206 HOMES
Do you speak Mill Creek?
WHAT THEY SAY…. WHAT WE SAY….
PROPERTIES COMMUNITIESUNITS APARTMENT HOMES
EMPLOYEES ASSOCIATES
PROJECTS DEVELOPMENT COMMUNITIES
TENANTS RESIDENTS
TRAFFIC CUSTOMERS
Get to know the Mill Creek lingo
It’s a small change in terminology that speaks volumes about how we approach our business.
Need help? It’s right at your fingertips.
Modera TempoALEXANDRIA, VIRGINA І DEVELOPMENT І 492 HOMES
Resource #1: The Mill Creek Portal
Where to find it:http://portal.mcrtrust.com
How to access it:Use your Mill Creek login credentials
What’s there:Forms, reports, training schedules and one-stop access to our core systems – Yardi, Ultipro (HR), Construction Imaging (A/P), Prolog – and more
Resource #2: The Mill Creek website
Where to find it:MillCreekPlaces.com (consumer information)MCRTrust.com (corporate information)
What’s there:Great information on our communities, photos and renderings, the latest company news and our executive bios
Resource #3: Ultipro
Where to find it:On the Mill Creek Portal
How to access it:Use your login provided by Human Resources
What’s therePay statements, W2s, time management tools, benefits overview and your personal information
Resource #4: MCR & Architel Tech Support
Where to find it:On the Mill Creek Portal [email protected]
How to access it:Send an email – they’re super fast
What’s thereAll the troubleshooting support you need for email, programs, systems and equipment
Point. Click. Connecting with Mill Creek is easy.
Whew! That was quite the Top 10 List. Let’s recap what you’ve learned:
1. Mill Creek’s mission & values2. The story behind the Mill Creek name 3. Our core capabilities4. Mill Creek is national – and growing5. We have a presence in 14 chosen markets6. Our portfolio comprises all asset types7. Our national brand is Modera® by Mill Creek8. Mill Creek’s leadership team is among the best9. How to speak Mill Creek10. If you need help, it’s just a point and a click away
Again, welcome to Mill Creek!
We‘re glad you’re here!
PEOPLE. RELATIONSHIPS.PLACES.
Thank you!