Korman Residential Apartments & Furnished Apartment Homes
Korman Residential invests in and manages multi-family property portfolios in Pennsylvania, New Jersey, Delaware, and Florida.
Modernista ApartmentsKorman Residential's Modernista Earth-Friendly Apartments incorporate renewable materials, energy efficiency, water conservation, a reduced carbon footprint, and a sense of style, all thanks to locally sourced materials.
The focal point of the Modernista Apartment is its kitchen, which is designed to provide residents with the best in-home culinary experience possible. Inspired by the Modernista movement in Barcelona, Spain, Korman Residential's Modernista kitchens bring together architecture, art, and natural materials in an imaginative way, creating beauty and functional design. The Modernista kitchen features stainless steel appliances and a stainless backsplash, a ceramic glass stove top range, an extra deep sink with a single lever faucet, maple flooring, obscure glass accents, natural maple cabinets, and designer track lighting. This sleek and sustainable space doesn't end in the kitchen either.
Modernista Apartments feature the following earth-friendly components:
- Carpet: SmartStrand® with DuPont™ Sorona® polymer contains ingredients made from corn sugar with 37 percent of the carpet fiber from renewably sourced ingredients replacing petroleum.
- Custom Engineered Wood Flooring: Contains 74% pre-consumer recycled wood from renewable, fast-growing U.S. based southern pine that would have been thrown away, so the rainforest is protected and U.S. manufacturing reduces the carbon footprint.
- Paint: Zero VOC paint contains 0% volatile organic compounds which contribute to smog.
- Tile: Contains a combined 37.4% pre-consumer and post-consumer recycled material content.
- Dual Flush Toilets: High efficiency toilet (HET) uses no more than 1.6 gallons per flush, saving 4,000 gallons of water on average annually.
- Low-flow Showerheads: Reduces water consumption by as much as 50% and the energy cost of heating the water by as much as 50%.
- Cabinets: Regionally sourced FSC Certified wood with 100% recycled pre-consumer material.
- Counter: Contains recycled material and no urea-formaldehyde.
- Backsplash: Stainless steel containing recycled material.
- Energy Star Rated Appliances: Energy efficient appliances result in utility bill savings.
Smoke-Free ApartmentsKorman Residential was the first property management company to offer smoke-free apartments in the Philadelphia Metropolitan Area. Each Korman Residential community features designated smoke-free buildings. Residents can enjoy breathing fresh air and living in a healthier environment.
Common Ground Community GardenKorman Residential's Common Ground Community Gardens offer residents a piece of earth for individual planting. Residents can reserve their own plot for free and grow fruits, vegetables, flowers and herbs.
Woof Woof ClubTo enrich life for residents and their canine companions, Korman Residential offers the Woof Woof Club. These private off-leash dog parks are excellent places for residents to meet other dog lovers in their communities.
The Live Korman CommitmentYou'll enjoy peace of mind knowing you're covered by the Korman Commitment — four exceptional guarantees you won't find at any other apartment community.
- 100% Move-in Satisfaction: When you move into a Korman Residential property, we guarantee your satisfaction. If you're not completely satisfied within the first 30 days, you may cancel your lease and we'll refund your deposit - no questions asked.
- 1-day Service Guarantee: If something needs to be fixed in your apartment, we will respond to you within 24 hours.
- Relocation Guarantee: If you need to move, we will make relocating to another Korman Residential property easy for you.
- Flexible Lease Term Guarantee: We offer flexible lease terms to fit your needs.
|John P. Korman
Chief Executive Officer
Mr. Korman has 32 years of real estate management, finance, construction and development experience. He has supervised the execution of over $2 billion of commercial real estate financing, acquisition and disposition transactions.
Mr. Korman has successfully arranged for more than $1 billion in multi-family debt and equity. He has participated in over $700 million in multi-family acquisitions and dispositions, as well as the development of income producing and for sale housing portfolios totaling nearly $1 billion. Mr. Korman’s responsibilities include portfolio strategy, capital allocation and joint venture formation.
Prior to joining Korman Residential, Mr. Korman was involved in all phases of multi-family, office, industrial, retail and extended stay hotels for a related entity, partnering with national and international corporate clients.
Mr. Korman earned a Bachelor of Science degree in Economics from The Wharton School at the University of Pennsylvania.
|James S. Korman
Mr. Korman has 24 years of multi-family real estate experience and is responsible for the operating results for all residential equity portfolios and third party management contracts. Mr. Korman has in-depth experience in repositioning properties in their respective markets. Mr. Korman continues to develop talented and versatile on-site management teams who enhance property values by increasing revenues while containing operating expenses.
Mr. Korman is responsible for identifying new acquisition opportunities, including underperforming properties in the marketplace ready for repositioning. Properties in portfolios under Mr. Korman’s management have been recognized in Pennsylvania, New Jersey, Delaware and Florida for overall excellence, curb appeal, maintenance, and marketing. These portfolios include garden, mid-rise, and high-rise buildings of all vintages.
Prior to becoming President of Korman Residential, Mr. Korman worked with Corporate and Group Sales serving major national employers, and was a pioneer in the extended stay segment of the apartment industry.
Mr. Korman is Past President of the Pennsylvania Apartment Association, as well as Past President of the Apartment Association of Greater Philadelphia. Mr. Korman is a founding board member of Drexel University's Property Management program. Mr. Korman has been a keynote speaker for The Institute of Real Estate Management (IREM). Mr. Korman effectively leverages these industry relationships in sourcing new acquisition opportunities.
Mr. Korman earned a Bachelor of Arts Degree in Political Science from the University of Delaware.
|Christian M. Troll
Chief Financial Officer
Mr. Troll has over 30 years of financial management experience in a number of different industries. In his current role, he is responsible for banking and treasury, joint venture partner and lender relations, financial reporting, information technology, risk management and coordinating and underwriting acquisitions and dispositions.
Mr. Troll is instrumental in enhancing asset profitability and cash flow through rigorous return on investment analysis. By utilizing best in class metrics, with his support staff, he measures property performance and ensures that all financial reporting is completed in an accurate and timely manner. Mr. Troll has implemented a thorough system of financial and operational controls including oversight of all expenditures at the property level, budgetary accountability, centralized purchasing and cash flow management.
Prior to joining Korman Residential, Mr. Troll consulted to a number of companies including Aramark Corporation, Staples, Inc. and FMC Corporation. He previously served as Vice President and Corporate Controller of CDI Corporation, Chief Financial Officer of the W. Atlee Burpee Company and was the second professional hired by the Philadelphia Office of Arthur Andersen to build their newly formed Contract Services and Outsourcing Practice.
Mr. Troll has substantial prior experience in loan negotiation, restructuring and coordinating loan workouts. He has worked closely with large, multi-national financial institutions as well as with regional and local banks, and has an extensive network of banking relationships.
Mr. Troll earned a Bachelor of Science degree in Public Accounting from CW Post College and a Master of Business Administration degree in Corporate Finance and Investments from Adelphi University.
|Albert DeFruscio, Jr.
Vice President, Construction Services
Mr. DeFruscio is responsible for the physical assessment and evaluation of all managed multi-family assets and heads the due diligence team for all new potential acquisitions.
He also plays a key role in positively repositioning properties in their market. Mr. DeFruscio's experiences include managing major and minor rehabilitation projects. He develops specific programs to address property deficiencies including mechanical evaluations and sustainability initiatives- all with a high level of cost certainty. Mr. DeFruscio works effectively with key decision makers within municipalities and government agencies.
Mr. DeFruscio has over 30 years of construction management experience.
|Dawn Ewing, CPM®
Director of Operations
Ms. Ewing has 21 years of multi-family management experience with Korman Residential. In her current role she has senior operational responsibility for properties in Pennsylvania, Delaware, New Jersey and Florida. Ms. Ewing has proven experience in delivering bottom-line results while often working under challenging budgetary constraints. She interfaces with Korman Residential’s partners and institutional investors. Ms. Ewing has successfully led numerous lease-up programs and is a key member of Korman’s acquisition due diligence team. She is continually building talented and versatile on-site management teams to assume additional assignments.
Ms. Ewing currently oversees portfolios that include garden, mid-rise and high-rise buildings of all vintages. Prior to joining Korman Residential, Ms. Ewing held several positions in the hotel industry.
Ms. Ewing has earned the designation of Certified Property Manager from the Institute of Real Estate Management. Ms. Ewing is the recipient of several industry awards, including the Apartment Association of Greater Philadelphia’s prestigious Elizabeth Bee Weatherford Award in 2007.
Director of Marketing
Mr. Rushing oversees corporate marketing and branding for Korman Residential. He is responsible for maximizing rental revenues and occupancy in the portfolios managed by the company. He utilizes various metrics to measure return on investment of all advertising and marketing media.
Mr. Rushing has 15 years of experience in marketing and advertising. He has worked in the property management industry since 2002, most recently serving as general manager at multiple properties. His success as a property manager gives him a unique and invaluable perspective in his role of Director of Marketing.
Mr. Rushing’s hands-on approach at the properties ensures that all new initiatives will be implemented quickly and successfully. An effective sales trainer, Pete has developed award winning sales teams that have been recognized for their excellence in the industry.
Innovative Marketing Supervisor
Mr. Miller focuses on emerging technologies in the multifamily industry, and oversees the company’s core online endeavors. He promotes online visibility through search engine optimization (SEO) and internet listing services (ILS) to maximize occupancy and revenue at the properties.
Mr. Miller has spent 5 years in corporate sales and marketing, and started with the company as a sales representative in 2009. He was promoted to the corporate marketing department to direct centralized lead communication and assist with various marketing responsibilities, including reputation and social media management.
Mr. Miller earned a Bachelor of Arts degree majoring in Communications/Journalism with an emphasis in Public Relations at Shippensburg University of Pennsylvania. He had previously worked with an online advertising agency, and currently holds a real estate license with the state of Pennsylvania.
Director of Financial Reporting
Ms. Downs is responsible for all internal and external financial reporting. She has built a team of accountants with broad industry knowledge who support her in this role. She has developed strong working relationships with our joint venture partners and lenders.
Ms. Downs and her team are responsible for coordinating a timely monthly financial close and for analyzing, investigating and reporting any budgetary variances as part of her monthly reporting process. She has enforced a rigorous system of internal controls within the company to ensure accuracy in the reporting process. Additionally, she is responsible for internal audits, and each property is thoroughly audited at least annually.
Ms. Downs earned a Bachelor of Science in Business Administration degree from Old Dominion University double majoring in accounting and financial management. She is a licensed certified public accountant. Ms. Downs is currently pursuing her Master of Business Administration with a finance concentration at LaSalle University.
|Mary E. Peller
Senior Financial Analyst
Ms. Peller is responsible for analyzing and underwriting multifamily investment opportunities and for monitoring returns throughout an investment’s holding period. She utilizes detailed financial models to project an investment’s performance and return from acquisition through disposition. During the acquisition process, she is a key member of the due diligence team responsible for assuring that all financial information provided by the seller is accurate and complete. In addition to accounting and financial analysis, she has experience in implementing and streamlining operational processes.
Ms. Peller earned a Bachelor of Science degree with a specialization in accounting and Master of Business Administration from Spring Hill College. She is currently licensed as a certified public accountant in Pennsylvania and Alabama.
|Noreen Cassidy, CAM®
Ms. Cassidy is responsible for oversight of expenditures and cost management at the property level. She monitors expenses against plan and industry standards and works closely with the Property and Regional Manager in order to assure that we are maximizing NOI and cash flow. Ms. Cassidy has a proven track record of identifying opportunities for operational improvement and implementing best-in-class solutions. She is also a member of Korman’s acquisition and due diligence team.
For the past 15 years, Ms. Cassidy has managed, mentored, and proactively developed on-site management teams and overseen internal audit systems to benchmark performance.
Ms. Cassidy has earned the designation of Certified Apartment Manager from the National Apartment Association and is Korman’s Real Estate Broker of Record.
Ms. Cassidy earned a Bachelor of Arts degree from Penn State University.
Ms. Broadnax has spent 9 years in the multifamily industry. She started with the company as a sales representative six years ago. She was promoted to the corporate relocation division to coordinate sales across the residential portfolio. Ms. Broadnax’s property management responsibilities included receivables, payables, collections and lease renewals. She is currently coordinating pre-development activities for Stage IV of the company’s Eastwick urban renewal project, adjacent to the Philadelphia International Airport. Ms. Broadnax earned an Associate in Arts degree majoring in Business Administration with a concentration in real estate at the Community College of Philadelphia and currently is pursuing a Bachelor of Science degree at St. Joseph’s University, Haub School of Business. Ms. Broadnax and her family reside in the Eastwick section of the City Of Philadelphia.