Riverstone Residential Group

Ottesen named CFO at Riverstone Residential

Pål Ottesen has been promoted to chief financial officer of Riverstone Residential Group, the Dallas-based company has announced.

Riverstone Residential is one of the largest privately-owned, third-party multifamily apartment management companies in the nation.

Ottesen has been the company's interim chief financial officer.

The company said Ottesen will combine this new job with his existing role as its chief administrative officer, and will have responsibility for investor relations, accounting, and treasury functions across all Riverstone Residential Group and CAS Partners business line and subsidiaries.

The company manages a portfolio of multifamily assets valued at more than $15 billion. The properties are in metro markets across the country and include 650 managed apartment communities.

Riverstone Residential Group Names Loyal Proffitt Executive Vice ...

Dallas, TX (PRWEB) July 15, 2011

Riverstone Residential Group, one of the largest privately-owned, third-party multifamily property management companies in the United States, has named Loyal Proffitt Executive Vice President for the company’s South Central Region. In his new role, Proffitt and his team are responsible for overseeing the day-to-day property management operations of almost 16,000 units and business development and client services for the region, which includes Texas, Oklahoma and Louisiana. Ultimately, Proffitt ensures that the goals and objectives of the Riverstone clients are met.

A 25-year real estate industry veteran, Proffitt has specialized in property management. Prior to joining Riverstone, he was the President of Henry S. Miller Realty Management, LLC with the direct responsibility of overseeing all commercial and residential property management functions for the company and its clients. Previously, Proffitt was one of the founding partners of WaterStone Residential, a regional apartment management company that eventually merged with the Henry S. Miller family of companies. He has widely-recognized expertise managing and consulting in numerous major markets throughout the country, including Florida, South Carolina, Missouri, Oklahoma and Texas. In addition, Proffitt has extensive experience managing properties for smaller, individual investors as well as non-profit groups and larger institutional clients.

“We are proud to have Loyal overseeing the South Central Region,” said Stephanie Brock, Central Division President at Riverstone. “This is a vibrant and ever-expanding region for Riverstone. Loyal’s strong property management expertise, client service acumen, and commitment to exceeding revenue goals are unsurpassed.”

Proffitt holds a BA in Accounting from Abilene Christian University. He has been a member of the Board of Directors for the Apartment Association of Greater Dallas and the San Antonio Apartment Association. Proffitt will report to Brock and be based in Riverstone’s Dallas office.

About Riverstone Residential Group Riverstone Residential Group, one of the largest third-party multifamily apartment management companies in the United States, is focused exclusively on the delivery of unparalleled property management, as well as, resident and ancillary services. Riverstone’s core service groups include accounting, affordable housing, compliance and property audits, information technology, risk management, human resources, marketing and education, purchasing, and regional maintenance. Ancillary service groups include utility management services, resident screening and receivables management services, client and resident insurance, as well as financial advisory services. The company manages a portfolio of multifamily assets valued at more than $15 billion for leading institutions, pension funds, developers and other major owners. Located in metropolitan markets across the nation, the more than 650 managed apartment properties include high-rise, mid-rise, and garden-style communities in conventional, affordable and receivership assets. The company is headquartered in Dallas, TX. For additional information, visit http://www.RiverstoneRes.

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