Earlier today, Phoenix-based Alliance Residential announced that longtime CFO Jay Hiemenz would be promoted to president and COO, while Bob Weston would move in from the Southeast to replace him as CFO.

Here's the release:

PHOENIX (July 22, 2014) — Alliance Residential, the premiere national multifamily acquisitions, development, construction and management company is pleased to announce the promotions of V. Jay Hiemenz to President and Chief Operating Officer, and Bob Weston to Chief Financial Officer. These leaders will oversee operational and financing efforts respectively, of the company’s approximate $2 billion production pipeline and 70,000 units under management. 

“Alliance is well-positioned with a strong balance sheet, broad capital relationships, a first-class leadership team and a solid reputation,” said Bruce Ward, Alliance Chief Executive Officer. “We are proud to be leaders within the multifamily industry and will maintain our position by continuing to serve as solid fiduciaries for our investors, clients, associates and local communities. These recent promotions will help Alliance continue to be an industry leader, as these individuals embrace our principles and understand our company’s vision and future growth plans.”

Hiemenz is a founding partner of Alliance and has been an integral part of Alliance’s growth since the company’s inception. As Chief Financial Officer he has been a great steward of capital, raising roughly $8 billion worth of multifamily capital and helping established Alliance’s platform and policies, as well as finance strategy. With the promotion to President and COO, Hiemenz expands his responsibilities to oversee overall operations of the company. Hiemenz is an active participant within the industry through Urban Land Institute, National Multi-Housing Council, Multifamily Executive, RealShare Apartment and other groups and organizations.

Weston, currently Managing Director for production in the Southeast, will relocate to Phoenix to take on the role of Chief Financial Officer, playing a key role in managing and growing Alliance’s capital relationships. He has experience running multifamily development and, coupled with his prior banking experience, understands the complexities of structuring, negotiating, documenting and executing multifamily real estate transactions.
For more information, visit www.allresco.com.

About Alliance Residential Company
Alliance is a fully integrated multifamily real estate operating company focused on the development, acquisition, construction and management of residential and mixed-use communities in the United States. Headquartered in Phoenix, Alliance has 33 regional offices throughout the West, Southwest, South-Central, Southeast, Mid-Atlantic and Northeast. Over the past 14 years, Alliance has become one of the largest private apartment owners and the ninth largest management company in the nation, boasting a $9.0+ billion portfolio of 71,000 units in 29 metropolitan markets. Alliance has a presence in 19 states and is actively seeking management, development and acquisitions opportunities across the markets it serves. For more information, visit www.allresco.com.