(Read more on the multifamily market.)

IRVINE, CA-Sares-Regis Group has named Michael Bissell as the new president of its multifamily property management division. The veteran multifamily property management executive will succeed James V. Thomas, who is retiring at the end of this year after 16 years with the diversified locally based real estate company.

Bissell will head a Sares-Regis multifamily property management operation that manages 14,000 apartment units in California, Arizona and Colorado. The new chief of the Sares-Regis unit has held senior posts with some of the nation’s largest publicly and privately held apartment investment and management companies, including Equity Residential Trust, Archstone Property Trust, the Irvine Co., Western National Properties and McKinley Properties.

Bissell comes to Sares-Regis from M.P. Bissell & Associates, a real estate consulting firm he heads in Walnut Creek. Managing director Geoffrey Stack of Sares-Regis points out that Bissell was formerly president of Regis Management Co., which was part of the 1993 merger that formed Sares-Regis Group.

Bissell, who recently completed two extensive assignments in Europe for Oaktree Capital Management and Stellar International Holdings, is a 31-year veteran of the industry. In his various posts he has directed asset management, property acquisition and disposition, development, merchandising and sales.

Bissell began his real estate career as a vice president in the apartment management division of the Irvine Company from 1976 to 1979 and from 1981 to 1987. He was executive vice president at Western National Properties when that company took over management of the Irvine Co.’s portfolio.

Outgoing president Thomas informed Sares-Regis Group officials late last year of his plans to retire, which comes after more than 26 years in residential management and development. Sares Regis has a combined portfolio of property and fee-based management contracts valued at more than $4 billion, including the 14,000 apartments and 15 million sf of commercial and industrial space.

The Sares-Regis development pipeline includes more than 6.5 million sf of commercial properties and more than 2,800 residential units. Since its inception the company has acquired or developed approximately 44 million sf of commercial properties and 19,000 housing units.

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