The inside on outsourcing
expanded its national footprint through acquisitions, integrating the portfolios and absorbing the employees and resources of six regional management companies.
Riverstone Residential landed its largest outsourcing agreement to date last December -- the 15,000-unit, 62-asset portfolio of Blackrock Realty Advisors, one of the world's largest publically traded investment management firms, folding in employees of BlackRock's wholly owned subsidiary, Metric Property Management, which previously managed the properties.
While Riverstone Residential gained footholds in 32 markets across the country, CAS Partners was assembling a roster of multifamily real estate support services and recruiting top executive talent from throughout the apartment industry. The company has emerged a front runner for market share in what is widely recognized as a consolidating trend taking place in the fee-managed sector, with a portfolio of 181,928 units in 775 communities, poised to capitalize on the unique opportunities of the economic downturn favoring management.
New CEO, new direction
Hard times usually call for new direction, sometimes even a new captain. But hiring a CEO is a serious undertaking. The chief executive not only oversees operations, but sets tone,
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