Glassdoor 3 1024x384 - Cardinal Group Celebrates Midyear Success With Significant Growth and Industry Recognition

Cardinal Group Celebrates Midyear Success With Significant Growth and Industry Recognition

By Cardinal
July 18, 2024

DENVER, CO – July 18, 2024 –— Cardinal Group Companies (CGC) proudly announces significant midyear growth and expansion. Highlighting a successful first half of the year, Cardinal has acquired four new communities and expanded its innovative services for its managed portfolio of student and multifamily communities.

Business Growth and Acquisitions

Cardinal Group Management experienced significant growth, with over 13,330 beds added to our student housing portfolio, reinforcing our position as a leader in the industry. In addition, we have expanded our conventional multifamily housing portfolio with the addition of over 1,700 units. This expansion reflects our strategic efforts to enhance our presence in student and conventional housing markets, ensuring that Cardinal continues to deliver exceptional living experiences for our residents and robust management services for our clients across our diverse portfolio.

In the first two quarters of 2024, Cardinal Group Investments acquired four new communities in Stillwater, Oklahoma, Norman, Oklahoma, and Knoxville, Tennessee. Midtown Stillwater, The Flats at Norman, Campus Lodge, and Quarry Trail join the Cardinal Group Investment portfolio. The value-add communities add over 3,000 student housing beds. Cardinal’s value-add plans include upgrading unit interiors and improving common areas, demonstrating the commitment to further enhancing residents’ quality of life. This acquisition highlights Cardinal’s dedication to acquiring and enhancing top-tier student housing assets in key college and university towns across the United States.

Industry Recognition

Cardinal continues solidifying its position as an industry leader with its commitment to excellence, innovation, and customer satisfaction. In recognition of its industry excellence, Cardinal proudly celebrates our award-winning accomplishments:

Centralization Efforts

Cardinal continues to focus on innovation for our clients and residents alike. The CX3 centralized services platform has continued to make significant steps towards centralizing property operations to streamline processes and improve efficiencies to enhance asset performance and daily resident services. Cardinal began piloting our third service offering for Resident Services Specialists (RSS) earlier this year. The RSS service offering supports work order follow-ups, renewal leasing, resident event planning, reputation management support, and resident communications. As centralized services continue to shape the future of operations and improve the resident experience, Cardinal’s CX3 platform added an additional 35 communities to the platform in 2024, totaling more than 10,000 student housing beds and 3,200 conventional and affordable housing units.

Commitment to DEI

Cardinal has furthered its commitment to fostering a diverse, equitable, and inclusive workplace. Cardinal celebrated the addition of over 800 new team members, supporting on-site and headquarters operations while earning recognition as one of Glassdoor Employees’ Choice Awards for Best Place to Work in 2024.

Notably, seven women were promoted to leadership positions in Director and above roles. Cardinal welcomed six summer interns offering hands-on experience with various departments, including Systems Support and IT, Client Services, Acquisitions, Marketing for Multifamily, Legal and Compliance, and Digital Marketing. These strategic advancements further Cardinal’s pursuit of top-tier talent and professional development for all team members.

Student Housing and Build-to-Rent Insights

Mid-2024 reveals that convenience and personalization are crucial in shaping the future of the student housing industry. Current trends emphasize the importance of spacious, eco-friendly communities equipped with smart home technology. The emergence of hybrid projects that combine student living spaces with classrooms, student unions, or libraries within the same building transforms the student housing experience by fostering a more integrated and convenient living environment.

Cardinal continues redefining the Build-to-Rent Market by focusing on innovation and the evolving housing needs of today’s dynamic market. By creating custom management solutions for the BTR product, we can continue bringing solutions focusing on advanced technology and services.

Reflecting on the first half of 2024, Chief Operations Officer Cara Athmann stated, “The achievements of these 6 months truly highlight our team’s unwavering dedication and resilience. As a nimble organization, we are steadfast in embracing challenges with innovation, technology, and the continual improvement of our services. The forward momentum in our business sets a promising tone for the upcoming year as we strive for even greater growth.”

About Cardinal Group Companies

Cardinal Group Companies (“CGC”) is a fully integrated real estate management, investment, construction, development, and marketing firm focused on multifamily and student housing throughout the country. Headquartered in Denver, Colorado, CGC affiliate companies are all firmly built atop the company’s “Cardinal Culture.” Since 2007, CGC has been operating successful partnerships focused on creating efficiency and above-market performance via their commitment to challenging the status quo of the industry. To date, Cardinal Group Companies has developed several best-in-class initiatives, which have earned the company national recognition year after year. Cardinal Group Companies’ management platform oversees over 40,000 units nationwide, including 11,000 conventional and affordable housing units and over 90,000 student housing beds across the U.S., including Cardinal Group, Companies’ owned portfolio, and third-party managed properties.

To learn more about Cardinal Group Companies, please visit www.CardinalGroup.com.

Media Contact:

Cardinal Group
Ainsley Robinson
Email: Ainsley.Robinson@CardinalGroup.com