The inside on outsourcing
the 2009 National Multi Housing Council's top-50 list, and its six sister subsidiaries.
"We're having a terrific year. Riverstone Residential added 90 new properties in the first quarter, right in line with our business plan, and a cadre of teams that go with that," said Portmann.
Eleven of those 90 incremental new assets represented fresh portfolio clients that had never used Riverstone, or CAS Partners, as a third- party property management company, and 79 are owned by existing clients. "So we're also growing organically and we've probably added 200 jobs at the property level," she said.
And at corporate, a couple of chief execs from local Texas firms, Barbara Erhart and Michael G. Hoffman, joined CAS last month to head up financial and legal activities, respectively.
Early growth
Dallas-based Riverstone Residential has come a long way since Consolidated American Services, formed by Nicholas and Peter Gould, bought a controlling interest in the company in July 2006 from then co- CEOs Christy Freeland and Terry Danner, the former Trammell Crow Residential execs who acquired their ex-employer's property management division six months earlier.
Over the next three years, with the financial clout of CAS, the company
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