C Star Management, LLC
How we got $38.7M
Based on its 75 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Unlikely to sell soon
- In business 34 years (since 1992)
- Family in the business (Barrett Aufleger, Vice President)
From public records and the company's website, not a statement that it's for sale.
What they do
C-Star Management provides property management, construction, brokerage and commercial management services for investors and property owners. It offers apartment and other communities across Oklahoma.
From the company's website. Industry: Lessors of Residential Buildings and Dwellings.
Estimated value over time
▲ 39% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| C STAR MANAGEMENT, LLC this business | $34.5M | — |
| M PROPERTIES, LLC Stillwater · 3 employees | $1.5M | 0.1 mi |
| AVCO INVESTMENTS, LLC Stillwater · 2 employees | $1.2M | 0.2 mi |
| WESLEY FOUNDATION AT STILLWATER, OKLAHOMA, INC. Stillwater · 16 employees | $5.6M | 0.3 mi |
| SHEDRICK MANAGEMENT LLC Stillwater · 2 employees | $916K | 0.4 mi |
| HOUCK AGENCY INSURANCE & REAL ESTATE LLC Stillwater · 3 employees | $2.2M | 0.5 mi |
| ARCHE, LLC Stillwater · 2 employees | $1.3M | 0.6 mi |
The full calculation
| Employees reported to the SBA | 75 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $30.9M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $29.6M |
| Estimate: the two combined (geometric mean) | $34.5M |
| EBITDA margin (industry, adjusted for size) | 22% |
| EBITDA = revenue × margin | $7.5M |
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $38.7M |
| Multiple for this size and industry | 5.2× |
| Value range | $20.4M – $53.0M |
| Revenue range | $22.7M – $39.3M |
| EBITDA range | $4.9M – $8.5M |
| Industry (NAICS) | Lessors of Residential Buildings and Dwellings (531110) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022, OK. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
People & advisors
“It all began in 1992 when our president, Howard Aufleger, began managing one apartment complex and through his individual attention to detail we were able to grow.”
Leadership
- BABarrett AuflegerVice President · Company website · source
- SASeth AuflegerDirector of Property Management · Company website · source
- PAPatricia AlstonOnboarding & Compliance Specialist · Company website · source
- JBJeff BellmerCommercial Project Manager · Company website · source
- RBRachel BoeversCPA, Controller · Company website · source
- RDRobert DaviesMaintenance Supervisor, OKC Metro · Company website · source
- WLWendi LaneAccounting Specialist · Company website · source
- JLJamie LawsonRegional Property Manager, North Oklahoma · Company website · source
- EMErnie MillerAsset Manager · Company website · source
- SPShelbi PollaroGeneral Manager · Company website · source
- CQChristy QuibodeauxRegional Property Manager, OKC Metro · Company website · source
Advisors
- BankingBancFirstPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| BancFirst PPP 2020 | All 7,048 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/10/2020 | first | $570K | 75 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About C Star Management, LLC
C Star Management, LLC is a lessors of residential buildings and dwellings company in Stillwater, Oklahoma, in business since 1992. It is owned by Howard Aufleger (President). Its estimated annual revenue is about $34.5M, with roughly $7.5M of EBITDA. It has about 75 employees. Its estimated business value is $38.7M (likely range $20.4M–$53.0M).
Common questions
- Who owns C Star Management, LLC?
- C Star Management, LLC is owned by Howard Aufleger (President), according to public sources such as the company's website or filings.
- How much revenue does C Star Management, LLC make?
- SeeBITDA estimates C Star Management, LLC's annual revenue at about $34.5M (likely between $22.7M and $39.3M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is C Star Management, LLC worth?
- About $38.7M, roughly 5.2× its estimated EBITDA of $7.5M, typical for a lessors of residential buildings and dwellings company its size. Likely range: $20.4M–$53.0M.
- How many employees does C Star Management, LLC have?
- About 75, as reported on its PPP loan.
- When was C Star Management, LLC founded?
- C Star Management, LLC has been in business since 1992.