DALLAS-The Pinnacle Family of Cos., a privately-owned third party manager of multifamily housing, has brought on Michelle Betchner as the firm’s new vice president of performance. She will be responsible for the advancement of brand marketing, maximizing performance and client relations, as the company strengthens its core to compete in a strong multifamily market.
Betchner comes from a similar job with Phoenix-based Alliance Residential Co. She tells GlobeSt.com that she is excited about Pinnacle’s vision.
“From an internal process standpoint, we’re going to continue to push property performance,” she says. “The marketplace is very challenging. A lot of organizations are downsizing. We’re taking a different approach in that we’re expanding in the operational realm, to make sure as the market starts to turn, we’re in position to take advantage of a good market.”
She says she sees some signs of recovery in certain markets, but isn’t ready to jump for joy yet. “We’re starting to see pullback on concessions, but there’s not really any rent growth,” Betchner says. “Other submarkets are just maintaining their status. We’re definitely also seeing transactions happen, but that’s not necessarily a sign of recovery. Institutional clients are getting properties off books, or owners are disposing to cut losses. I think we want the market to change so much that we’re starting to force it a little.”
Pinnacle’s portfolio is valued at $22 billion. The portfolio includes more than 185,000 residential units and 15 million square feet of assets.
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