Q: What demographics and product types do you target?
A: You talk about 83 million people coming into the workforce over the next seven to 10 years. The vast majority is going to be renters, and they are not going towards the downtown, high-dollar, urban experience. You have to have a product that is going to fit the income demographic of Gen Y and immigrants, and that is not high-end product. Our portfolio is all garden-style communities where we can add a full amenities package and do some spit and polish to provide service, quality, and maintenance in a good location.
Q: What would you be doing if you were not in the multifamily industry?
A: The two things I like to do when I’m not working or with my family are cutting horses and fly fishing. I’m very active with cutting horses, in fact, so I’d love to have a cattle ranch and be a cattle rancher. If I could figure out how to make a living doing that, I probably would.
About the Company
What: Multifamily real estate investment and operating company
Founded: 2004
Headquarters: Oakton, Va.
Employees: 200
2007 revenue: $68 million
Units owned/managed: 10,000
Geographic coverage: North Carolina, Georgia, Tennessee, and Texas
About the Project
Project: Mission Brentwood
Location: Nashville, Tenn.
Units: 380 one- and two-bedroom apartments
Rent: $659 to $900
Notable: Former Archstone asset; targets Class B renters with Class A amenities, including gated access, a business center, two pools, and a spa