((L-R) Katy Stewart, Commercial Property Manager; Greg Didier, Maintenance Technician; Melissa Sander, Residential Portfolio Manager; Michele Van Spaendonk, Property Accountant; Tom Carlson, Office Administrator; Travis Babcock, Residential Portfolio Manager; and Jenna Johnson, Regional Portfolio Manager. Not Pictured: Chrissy Capri Snider, Managing Principal Broker and Commercial Property Manager | Photo by Cascade Business News)
Company Experiencing Rapid Growth as Demand for Property Management Soars in Central Oregon
Central Oregon-based Cobalt Properties Group has carved out a distinctive niche in the property management sphere. And with steep growth, the company is on course to see some portions of its portfolio nearly double over the course of a year.
Previously managing upwards of 500 units, the recent increase in activity represents a more than 40 percent growth rate in 2023 year-over-year alone.
Cobalt has already identified hundreds of new units that will come online under its oversight by the end of the year, including an 86-unit newly constructed apartment complex located in northwest Redmond as well as a new 48-unit complex in Bend.
“The growth our company is seeing reflects Central Oregon’s similar trajectory,” said Regional Portfolio Manager Jenna Johnson. “It is a sign of the times, and a big element is primarily more new multi-family residential. The growth our Redmond owners are seeing is also a great example of what is occurring regionally. As demand continues to increase, we are seeing more density and urban-like housing solutions break ground providing high-quality, market-rate apartments. Owners look to us to manage in a dynamic marketplace. During times of instability worldwide, our clients rely on us to provide consistent management of their assets so they can focus their efforts elsewhere. ”
With increased complexity and newly implemented real estate laws pertaining to investment properties, Cobalt stands ready to address questions backed by an established legal team. Their broad network addresses owner questions regarding title, landlord and tenant inquiries. With relationships in the civil engineering, general contractor and architecture world, Cobalt continues to prove itself as a one-call service provider.
Johnson, licensed real estate broker in the state of Oregon, said part of Cobalt’s formula for success is knowledge-based management. Multi-family residential is a very complex space, and laws for ownership are complicated. Cobalt prides themselves on being the expert on their clients’ teams, working as an advocate on behalf of their assets.
Johnson said, “Clients know they can count on us to provide exceptional service, strong communication and consistency when managing and protecting their assets, delivered with the assurance of knowledge and integrity.”
Bend office Managing Principal Broker Chrissy Capri Snider brings experience in both real estate and accounting analysis, and says she prides herself on delivering tailored service for each client — and a positive bottom line for their commercial and residential investment properties. The Cobalt team exemplifies a balanced diversity of expertise: commercial, aviation, multi-family, industrial, with a thorough financial analysis to accompany each.
Cobalt is part of a multi-state operation owned by High Plateau Capital, a single-source asset management firm. Led by a dedicated team of industry experts, High Plateau Capital conducts business in Washington, Idaho and Oregon. HPC Executive Vice President, Emily Morey, noted, “Our real estate breadth ensures a full suite of services: from investment capital to acquisition, project entitlement and development, property management to sales and beyond. Cobalt adds enormous value to the properties it manages, our own proudly included.”
Also under High Plateau’s ownership is Meridian Development, which specializes in the acquisition, entitlement, pre-construction, land planning and engineering for commercial, industrial, multi-family and aviation properties throughout the Pacific Northwest.
Meridian is currently working on construction of multifamily unit developments in both Bend and Redmond, having also identified the positive growth in the region. Cobalt’s contribution to these projects while under construction will ensure an expeditious lease up cycle as well as a valuable tenant base, even as new projects initiate construction nearby
Cobalt’s do-it-all approach includes servicing maintenance requests with a specialized in-house team. They have found that building a knowledgeable, reliable in-house team saves time and resources for owners, thus delivering the most efficient service to their clients.
On the commercial front, Cobalt can support owners with everything from marketing and administering of lease agreements to managing maintenance and repairs, as part of overseeing all vital aspects of commercial property management. Innovative technology is employed to streamline communication directly from the team and give monthly and annual reporting via an online owner portal.
Equally, all aspects of residential property management are handled including marketing support, proper screening of applicants, tenant placement and ongoing relations, contractor and vendor oversight, improvements, maintenance and repairs.
The tenant portal is just another tool for seamless communication any time, allowing rent to be paid securely online and conveniences such as rapid submittal of maintenance requests.
The portals’ 24/7 capability also boosts property insights, with on-demand access to financial statements, monthly summaries, year-end tax statements and important documents from anywhere using robust mobile capabilities.
Johnson added, “You can trust us with your investment and expect us never to lose sight of the importance of delivering a positive return on investment for you — and value-added services for an owner and the tenants.
Poised for growth and scaled accordingly, Cobalt Properties Group looks to the future and a steep growth cycle in the next four years.
cobaltpropertiesgroup.com • info@cobaltpropertiesgroup.com • 541-322-5966
