A Special Holiday Edition

Year in Review

What a remarkable year it has been! Our success at StoneRiver is a result of everyone's dedication to excellence each day. We have worked hard and enjoyed ourselves along the way! Please take a moment to look at the 2023 Year in Review for StoneRiver. We are excited to see what 2024 holds for us!

Company Events

In January, the second Annual Wellness Challenge was launched. Witness the Fitness, led by team captain Emily Jordan, emerged as the overall challenge winner. Colin Moorhouse won the overall male category, while Christie Smith took home the prize for the overall female category.

March meant March Madness —the craziest month in college basketball. For all those college basketball fans, we hosted a March Madness bracket competition for all who wanted to participate. After another wild NCAA tournament filled with upsets and no #1 seeds making the Final 4, the UConn Huskies won their 5th national championship. Despite picking Alabama to not only make its first Final 4 in program history but also to cut down the nets in Houston, Donald Gambril was able to hold on to win the 2023 SRC Bracket Challenge.

During March, StoneRiver corporate and all of its properties organized and hosted a canned food drive with the aim of gathering an assortment of canned goods and non-perishable items to help the communities in need.

Our company participated in a Giving Back to Empower Women Clothing Drive as a tribute to Women's History Month. We donated new or gently used women's clothing to help women in need. By taking part in this event, we aimed to provide women with the confidence that they can carry forever. We believe that every woman should have the knowledge that they can actively define their life, choose their own path, and determine what success means to them.

Katie Roncadori, a passionate hiker and a philanthropist, dedicated her time and effort this year to raise more than $30,000 for Make a Wish Alabama. Her unwavering commitment led her to complete not just one but two challenging hikes to support the cause. Her selflessness and determination have made a significant impact on the lives of the children in need, fulfilling their wishes and bringing a smile to their faces.

In April, StoneRiver held its Annual Service Day, an event that not only provided an opportunity for team members to give back to the community but also allowed them to have some fun while doing so.

In June, a contest was organized to determine the best resident event. After a vote from our team members, Inverness Cliffs emerged as the winner with their "Grow with Us" event, which was highly engaging and creative. The event was a huge success, and it left a lasting impression on everyone who attended.

Also, in June, our team was fortunate to have multiple members attend the NAA Apartmentalize 2023 conference in Atlanta, GA. The event was a vibrant and dynamic experience that was filled with engaging activities, informative sessions, and unforgettable moments.

During the month of July, we organized a Back-to-School Drive with the aim of making a difference in the lives and future of underprivileged children. We encouraged people to donate or host their own donation collection at their respective locations. Our school supply drives help ensure that all children have the same opportunity to start the school year on a positive note

StoneRiver held our 3rd annual company-wide bowling event in August. Makayla Phillips from Birmingham won 1st place in the female category, and Erich Moore from Magnolia Grove won 1st place in the male category.

The Annual Best Places to Work in Multifamily Survey for 2024, which recognizes the top-rated employers in the industry, kicked off in September. This survey is an opportunity for multifamily industry employers to showcase their commitment to creating a positive work environment and to gain recognition for their efforts.

Every year, when Fall rolls around, there’s a spirit in the air. We celebrate one classic Fall tradition that is unlike any other, and it’s the perfect reason to entertain – football! Whether a die-hard sports fan or just there for the food & fun, football parties have a little something for everyone. With football season beginning in September, we kicked it off with planned season kickoff parties in each community!

We celebrated Wear it Pink Day in October, which is our annual event to raise awareness of breast cancer. Breast cancer doesn’t stop for anything, so our goal is to help create a future where people affected by this disease can watch their kids grow up and enjoy a lifetime of memories with their loved ones. By wearing pink, we hope to remind those affected that there is hope for a better future with less fear.

In October, we organized a Pumpkin Decorating Contest and challenged each property to ditch the pumpkin carving kit entirely and try their hand at pumpkin painting or decorating. The results were amazing! All of the pumpkins turned out great! The winner of the contest was Makayla Phillips from the accounting department.

In November, we had a special event called Thankful Thursdays. Every week, we took the opportunity to express our gratitude to all our employees. We are continuously impressed by the exceptional performance of our teams. Your hard work and dedication are the reasons why we are achieving the high goals we have set for StoneRiver.

Company News & Happenings

StoneRiver ranked #11 in the 2023 nationwide Top 50 Best Places to Work Multifamily®, an outstanding achievement that would not have been possible without every one of our amazing team members.

At the beginning of 2023, Property Management launched a new rewards program partner through BILT Rewards.

The Terraces at Town Center team kicked off 2023 by beginning the process of renovating all 240 units! Each apartment home was upgraded with quartz countertops, cool-toned LTV flooring throughout, square cabinet hardware, gray subway tile backsplash, and a complete paint color change that compliments the amount of natural light in each room.

The WildForest renovations wrapped up at the start of 2023 and added a wonderful range of amenity spaces for the residents to enjoy. These areas included a pet spa, a recreation room with gaming tables, a TV, and double sliding doors that open directly to the pool area, creating one cohesive space for the residents to enjoy. In addition to the recreational space, the pool area was upgraded with new furniture, tables, and umbrellas to enhance the modern vibe of the community. The fitness center upgrades provided an additional inviting space for all residents to enjoy, including new paint, flooring, smart equipment, and upgraded restrooms for both the back pool and fitness center use.

Pecan Springs completed its exterior renovations and amenity upgrades in 2023, as planned. The project involved several important improvements, such as repairing the roofs and completely repainting Buildings 1-8. Moreover, the fitness center and landscaping upgrades also started in March.

StoneRiver closed on a new development, The Hub at Grants Mill. Since closing on the land acquisition, the project has been moving forward according to plan.

StoneRiver held the official opening of the Clubhouse at Vital at Springbrook in June! The 5,200 sq ft space blows visitors away with the four different amenities spaces, natural lighting pouring in from expansive windows, and top-notch finishes that make it stand out from the crowd. With so many inviting amenities, we looked forward to watching the clubhouse come alive with our first move-ins in August!

StoneRiver was named a finalist in the 2023 NAA Top Employers awards, scoring above the cumulative average of all surveys within each contest.

On July 24th, StoneRiver proudly announced the successful sale of our property, The Ridge at Hamilton Crossing, located in Knoxville, TN. This sale is a significant milestone for StoneRiver Company as it marked the first disposition from Fund II.

On August 1st, we acquired Concord Ridge Apartment Homes, a 336-unit community in Concord, North Carolina. Concord Ridge was the fifth investment added to the StoneRiver Fund II Portfolio.

StoneRiver launched fundraising for StoneRiver Investment Fund III. Fund III will continue StoneRiver’s strategy of investing in garden-style multifamily real estate located throughout the Southeastern U.S.

In addition to the apartment upgrades beginning at the first of the year, Terraces at Town Center began a full clubhouse renovation in October of 2023 that created a neutral-toned modern space inviting all residents to utilize the space for remote work or entertaining guests.

Our new website was unveiled on November 1st. To establish a strong online presence, we created a visually appealing and user-friendly website that reflects our brand identity and engages our target audience. The design is now responsive, ensuring seamless navigation across all devices. Our brand has evolved since the launch of the first StoneRiver website, and our current website reflects our current identity rather than who we were when the site first went live.

We need your help!

We are looking for our next employee spotlight candidates and would love your help! If you see or hear of someone on your team going the extra mile, let us know! Be sure to include the nominee's name, property, and what they did to go above and beyond!

Employee News

We made the list!

We made the list, and now we’re a finalist in the official Best Places to Work Multifamily® program for the third year in a row! We are so proud and so excited to find out where we rank in the national top 50 list! Multifamily Leadership, producers of the Best Places to Work Multifamily®, will reveal the rankings of the top 50 on December 6, 2023, and we are on that list! We couldn't have done this without you!

New Hires and Promotions

New Hire: Adam Campbell, Inverness Cliffs – In November, the StoneRiver team welcomed Adam Campbell as the Property Manager at Inverness Cliffs. With his extensive experience in property management, Adam possesses a wealth of knowledge in renovations, managing properties with a large unit count, mentoring his teams, and even traveling to train on software such as CRM with his previous employers. Adam's passion and dedication towards making sure his team and residents enjoy being a part of his property every day is remarkable. We are thrilled to have Adam onboard and look forward to his contributions towards the success of Inverness Cliffs.

Promotion: Theresa Lopez – We are pleased to announce that Theresa Lopez has been promoted as the Area Manager of our Texas sites, Pecan Springs and Magnolia Grove. With her extensive experience in property renovations, occupancy improvement, marketing, and overall operational management, she has already made significant contributions to Pecan Springs. We are confident that her innovative ideas and effective management style will benefit both Texas sites under her leadership. We are thrilled about this new chapter in her career and look forward to supporting her successful transition.

Property Operational Tips

Preventative Maintenance

Typically, December is a slower month in the office and with work orders. Therefore, it is an opportune time to complete any overlooked preventative maintenance tasks from the year. Take some time to clean the breezeways and common areas before the holidays to give your residents and their guests a clean and presentable community and home.

As a reminder from the October Newsletter, it's important to winterize any vacant apartments and check and maintain fire safety equipment. If you have any unoccupied units, it's essential to winterize them to prevent damage and minimize energy costs. To start, drain the water lines to prevent freezing and bursting pipes. Set the thermostat to an appropriate temperature to maintain a controlled environment and prevent extreme temperature fluctuations. Additionally, ensure the insulation is sufficient to keep the apartment protected during colder months. The proper functioning of fire safety equipment is vital for the protection of residents and the property. This is a great time to check fire extinguishers, smoke alarms, fire alarms, and emergency exits. Check fire extinguishers for expiration dates and proper pressure levels. Test smoke alarms and fire alarms to ensure they are in working order. Ensure that emergency exits are clear and accessible. Consider professional servicing to ensure compliance with safety regulations.

HR Corner

Wrapping up 2023

As we wrap up 2023, please remember to review and update your personal information in LandrumHR. Human Resources utilizes this information when sending out important notices throughout the year, such as W-2s, benefit communications, ACA Form 1095-Cs, etc.

Personal Information Review

• Home mailing address
  
• Email address
  
• Phone number(s)
  
• Emergency contact information
  

Tax Status and Withholdings

• Marital Status
  
• Federal and State withholding information
  

Open Enrollment

• Don’t forget to submit benefit enrollment updates to Human Resources by December 8, 2023.

Other

• We will have three pay periods in December, which means that you won’t have BCBS medical/dental, VSP vision, or Equitable voluntary life deductions on your December 29th paycheck. Enjoy the benefit holiday!

Holiday Traditions

Where did they begin?

There's a reason why the holiday season is considered the most wonderful time of the year: It's one of the few occasions where we press pause on the hustle and bustle of the always-on world we live in, gather with friends and family members, and take part in time-honored traditions.

It’s the heart-warming Holiday traditions that we cherish and repeat year after year that make the festive period so special, but did you know that putting up your Christmas tree, giving and receiving holiday cards, your most traditional holiday décor ideas – along with our other favorite customs stems back many years…

Christmas Trees - Decorated trees date back to Germany in the Middle Ages, with German and other European settlers popularizing Christmas trees in America by the early 19th century. A New York woodsman named Mark Carr is credited with opening the first U.S. Christmas tree lot in 1851.

Gingerbread Houses - Although Queen Elizabeth I gets credit for the early decorating of gingerbread cookies, once again, it’s the Germans who lay claim to starting the gingerbread house tradition. And when the German Brothers Grimm wrote: “Hansel and Gretel,” a new holiday tradition was born. Today, edible decorations are available in a slew of pre-packed kits.

Cookies and Milk for Santa - While leaving treats for Santa and his reindeer dates back to ancient Norse mythology, Americans began to sweeten up to the tradition during the Great Depression in the 1930s as a sign of showing gratitude during a time of struggle.

Christmas Cards - The first official Christmas card debuted in 1843 England with the simple message, “A Merry Christmas and a Happy New Year to You.” The idea of a mailed winter holiday greeting gradually caught on in both Britain and the U.S., with the Kansas City-based Hall Brothers (now Hallmark) creating a folded card sold with an envelope in 1915. Today, according to the Greeting Card Association, more than 1.6 billion holiday cards are sold annually.

The best Christmas traditions are the personal ones that are meaningful for you and your family, be that as simple as a nostalgic drive around your local neighborhood to view the houses all decked out in twinkle or counting down the days with advent calendars. Whatever your traditions, they can never fail to bring charm to the holidays.

Every year, after Thanksgiving dinner, my daughter and I begin setting up and decorating our Christmas tree while listening to Christmas music and sipping hot chocolate. In the spirit of Christmas, we bake treats for our local police department and friends, then deliver them with a decorative hat.

Raquel Lietart – Vital

The Saturday after Thanksgiving marks the beginning of our Christmas celebrations. Gracie and I grab some hot chocolate and visit as many lots as it takes to find the perfect Christmas tree. We then take it home and get to decorating. We put on Christmas movies or Christmas music and just make a whole day of it. Throughout the season, we have several activities lined up. On Christmas Eve Eve (the 23rd), we always find a new and exciting place to visit and finish any Christmas shopping we may have left. Last year, we went to Rickwood Caverns, which had an amazing light show inside the cave, and we are already looking forward to going back this year. We also visit Ave Maria Grotto, which is beautifully lit up in Christmas lights, and go to the Christkindlmarkt in Cullman while we're there.

Katie Roncadori - Birmingham

5-4-3-2-1...Happy New Year!

It's almost time to celebrate the coming of a new year and new beginnings. From bumping New Year's Eve songs to ring in 2024 to watching the famous ball drop, many of the activities we do right before the clock strikes midnight each year are longstanding traditions. New Year's superstition and folklore have come from around the world and spanned decades. That's right, there's more meaning behind a kiss timed to midnight than you might guess (choose your partner wisely), and blowing horns and setting off fireworks is actually for more than just a cute social media photo. Many cultures believe that the way you spend New Year's Day sets the tone for the rest of the year, so make it count!

Get a Midnight Kiss - It may seem like kissing someone at midnight is a way to show your excitement for the new year. But actually, it's thought that if you kiss someone you love as the clock strikes midnight, those sentiments will continue for the next 12 months.

Don't Clean the House - I can really get behind this superstition. If you're concerned about "sweeping" or "washing" away any luck coming your way, don't do any cleaning—including dishes and laundry.

Fill Up on Collard Greens and Black-Eyed Peas - If you want to keep with Southern tradition, eating black-eyed peas and collard greens on New Year's Day will supposedly bring good luck and prosperity, respectively, in the months ahead. Whip up our Braised Greens and Black-Eyed Peas Salad and see what happens!

Make Some Noise - You may love buying noisemakers and fireworks to set off at midnight, but did you know the tradition originated from a superstition that making loud noise at midnight would scare evil spirits and omens away?

The Past Month’s Events

Photos of employees enjoying Thankful Thursdays!

A look back at our property’s spooky Halloween Celebrations

Magnolia Grove’s Pet Costume Contest

The vital team’s spooky witches

pecan springs community Halloween party

Birthdays

Anniversaries

A Look Ahead

12/01 9:00 A.M. - PA submits prelim P2P report to PM

12/01 EOD - PM sends the final accrual and reclasses to the RM

12/04 EOD - PM finalize and send the lease trade-out report to the RM

12/04 - Occupancy updates due

12/04 EOD - RM loads the final accrual and reclasses to the property management drive

12/05 - PM begins initial budget variance review

12/05 - PM sends budget variance and balance sheet reports to the Controller

12/05 5:00 P.M. - Leasing commissions due for the prior month

12/06 12:00 P.M. - PA sends variance reports to PM

12/06 - Market survey due

12/06 - Renewal rates due for March 2024

12/08 5:00 P.M. - PM sends budget variance reports with notes to RM for review

12/11 - PA reviews variance report with RM to finalize changes

12/11 5:00 P.M. - PA sends internal reports to the Controller

12/11 - Occupancy updates due

12/12 - RM loads rent growth reports to the property management drive

12/12 - RM loads variance reports with notes to the property management drive

12/15 - RM review for any needed market rent increases

12/15 - Controller distributes financial packages to Investors

12/20 - Market survey due

12/26 - Occupancy updates due

12/26 - PM sends the list of write-offs to the RM for their review

12/27 9:00 A.M. - RM sends approved write-offs to PA

12/27 5:00 P.M. - PA completes write-offs

12/28 - PM completes the month-end pre-close checklist

Every Thursday, by the end of the day – Property managers upload weekly checklists.

Every Friday, by 12:00 P.M. – Regional managers upload weekly checklists.

Every Friday, by 5:00 P.M. – Ensure that you clear out your P2P queue and code any credit card receipts.

Have an Idea?

Do you have an idea, comment, or a story you would like featured in upcoming publications? If so, please submit your request for consideration. A member of the newsletter committee will contact you if your request is chosen.