In the spring of 2003, Sigma Nu Fraternity, Inc.'s High Council and Trustees came together to decide the future that housing would play in Sigma Nu's operations. The discussions surrounded around the pros and cons of becoming more involved in real estate and undergraduate housing as well as the current state of the Fraternity's loan program.
It was decided that for the Fraternity to be successful in real estate that it needed to be operated as an independent business oriented entity that could focus exclusively on growing sustainable housing operations and a performing loan program.
The Fraternity's venture into the real estate area was the launch of a wholly-owned subsidiary in August 2003 called Fifth Point Properties, LLC with the main goal of improving the quality of chapter housing available to the chapters of Sigma Nu Fraternity. Through a combination of support and advising services for house corporations, relationships with third-party service providers, and direct investment, Fifth Point Properties provides a broad spectrum of support for house corporations and chapters.
With so many chapter facilities in need of repair, remodeling, upgrade of life-safety and technology systems, the work necessary to maintain a long-term property management and improvement strategy can be daunting for a team of volunteers with family and career responsibilities. Fifth Point Properties can provide experience, manpower, and other resources to supplement or compliment existing volunteer teams.
To facilitate the improvement of the Fraternity's collective housing stock while developing a source of financial strength and competitive advantage for the Fraternity.
Our vision is to see ...
Mr. Murphy has served as Treasurer and Chief Financial Officer since the start-up of Fifth Point Properties, LLC. Mr. Murphy also services as Chief Financial Officer of Sigma Nu Fraternity, Inc. and Sigma Nu Educational Foundation, Inc. were he manages the finance and accounting functions for all three entities, along with much of the organizationsí administrative activities. He earned his bachelors of business administration in May 2001 with a double major in finance and marketing and a minor in economics from the University of Kentucky.