Legacy might seem like a presumptuous name for a company that only was formed in 1998. But, when the founder and CEO has more than 30 years of experience, it seems a fitting title. For C. Preston Butcher and the original team members of Legacy Partners Residential Inc., a division of Legacy Partners, the name represents the past. But, for the younger employees, the name represents the future.
It's rare when nominees for Multifamily Executive's Executive of the Year award receive more than one or two recommendation letters with their nominations. But this year's winner, Arthur Evans, president of A.F. Evans Co. Inc., had overwhelming support from industry executives.
Last year, the General Accounting Office ranked the U.S. Department of Housing and Urban Development (HUD) as the second most effective and improved agency in the government. But despite this accomplishment, HUD Secretary Mel Martinez walked into an office that was riddled with inefficiencies and problems.
Every player on the team is important, and it's the manager's job to ensure they perform to the best of their abilities. At Pinnacle Realty Management Co., Stan Harrelson, 48, makes sure his team is equipped with the resources and training necessary to get the job done right.
Home Properties prides itself on its "family feel." This public real estate investment trust (REIT), formed by Nelson and Norman Leenhouts in 1967, is run more like a traditional family business than a corporation. The company specializes in acquiring and repositioning older properties, typically from smaller family-run businesses that are looking to get out of the multifamily industry, says Nelson Leenhouts, co-CEO in charge of operations. The average property age of the company's portfolio is 30 years.