As the newly appointed executive vice president of property operations for Memphis, Tenn.–based Fogelman Management Group, Justin Marshall plans to take full advantage of all the assets at his disposal. And with approximately 20,000 units to keep tabs on, Marshall should have no trouble keeping busy.
Prior to joining Fogelman in April, Marshall spent eight years as president/chief operating officer at Atlanta-based TriBridge Residential Property Management Advisors, where he oversaw property management, information technology, marketing, training, and asset management efforts. He grew the company’s portfolio from 7,000 units in 2007 to 20,000 units by the end of 2011. So it’s no surprise that Fogelman would enlist him in an executive leadership role to steer its operations, especially since Marshall plans to use that experience to add some immediate value to Fogelman’s portfolio.
“We’re very methodical about the partnerships we enter into and the properties on which we put our name,” Marshall says. “The overall goal is to maintain the portfolio size between 20,000 and 25,000 units.”
Marshall plans to work closely with the company’s acquisitions team to determine what additional value the management platform can bring to prospective acquisitions based on the operational improvements it can introduce. He also has his sights set on working with recently implemented initiatives, such as revenue management and mandatory renter’s insurance, to make sure on-site personnel understand how each can add to Fogelman’s bottom line.
“Mastery of the current [revenue management system] they have available to them will make the on-site teams more productive and the properties more profitable,” he says.
Over the five years that he led the operations group at TriBridge, Marshall learned that putting the right people in the right roles is the key to success. “Multifamily property management is all about the people; if you have well-trained, engaged people, you’ll be successful. If you don’t, you’ll struggle,” Marshall says. “Fogelman shares the same philosophy, which is what attracted me to the company.”
Fogelman currently manages approximately 20,000 units in the Southeast, Southwest, and Midwest.