HSM Expands Oil City Presence

"When we took over this 3,000-unit portfolio, given the location of the properties and number of people we were going to be bringing in, we decided to open another office up north," says Loyal Proffitt, Henry S. Miller Realty Management executive vice president. Proffitt tells GlobeSt.com that, until recently, the Multifamily Management Group's operations were handled from an office adjacent to that of Henry S Miller Commercial's operations at 3050 Post Oak Blvd. With the Multifamily Management Group's lease set to expire at the Galleria location, Proffitt says the time seemed right to branch out to another location. The division now does business at 8203 Willow Place South.

Proffitt says adding more properties to the current portfolio, which numbers around 10,000 units, could lead to hiring more staff. He says the current office space could handle about two or three more people and the Multifamily Management Group has the right of first refusal of just under 1,000 square feet for more expansion, if necessary.

Those hires could be necessary sooner rather than later, as the Multifamily Management Group's pipeline is pretty full. "They're in varying degrees of coming into our company, with some in Houston and elsewhere," Proffitt comments. "Some are with new clients and others with existing clients that are requiring some help with new properties." He adds that the Multifamily Management Group doesn't have specific goals in terms of unit numbers, but is focusing on quality management rather than size.