Gross & Cohen Real Estate Investors Forms Property Management Firm

By Anuradha Kher, Online News Editor Amherst, Mass.– Gross & Cohen Real Estate Investors recently formed Gross & Cohen Management LLC, a company that will provide property management and consulting services to student housing owners and investors at campuses across the U.S.“We are currently in the process of looking for clients,” Steve Gross, CEO of Gross & Cohen REI Ltd, tells MHN. “Operating successful student housing properties requires unique skills and knowledge and since we have been successful in our own operations, we have decided to expand our company.”Gross & Cohen Real Estate Investors currently owns and manages more than 1,000 beds in its own portfolio, including properties at the University of Notre Dame, Purdue University and Fulton Montgomery Community College in Johnstown, N.Y. Gross & Cohen’s portfolio is 99% occupied. Gross says what makes his company good at managing student housing is the way they look at the business. “We check with the kids about what’s really important to them. A concierge service for example, that includes making trips to campus three times a day.”Currently, Buffalo Suites of Buffalo, New York, has hired Gross & Cohen Management LLC to assist in the development and to manage a planned student housing facility near State University of New York at Buffalo. The management company will look for clients east of the Mississippi but is not closed to other regions. Speaking of the timing of the venture, Gross says, “In previous years, when the economy was doing well, a lot of people got carried along even if there were errors. This economy is not so forgiving to errors, which is why I believe our services are more crucial.”According to Gross, some of the big challenges that student housing communities face are:Most companies don’t understand the small window of opportunity that student housing offers; they don’t appreciate it.Companies don’t understand that this is a hospitality business. For example, a student stuck at the airport called us the other day and we sent someone to pick him up. A multifamily manager would not do that. That’s a key difference that many do not know.The security issues at student housing communities are very different from a conventional multifamily property and need to be taken into consideration.The company has appointed three regional managers to work exclusively with the management unit.