Rick Graf
Rick Graf

After 48 years in the multifamily industry, Rick Graf will retire on Dec. 31 from his position as president of U.S. Multifamily Asset Services for Cushman & Wakefield, a leading global real estate services firm and one of the nation’s largest third-party apartment managers. Executive managing director Woody Stone will assume the role.

Woody Stone, president of U.S. multifamily asset services, Cushman & Wakefield
Woody Stone, president of U.S. multifamily asset services, Cushman & Wakefield

“Rick has set the bar for success in multifamily management very high. He was a steady-handed leader during the pandemic and led his team to accelerate many new measures, like touchless technology and self-guided tours,” says Marla Maloney, president, Americas Services. “Woody is a tremendous leader who will be able to leverage and build on Rick’s outstanding work to the benefit of our clients.”

With more than 20 years of industry experience, Stone, who will report to Maloney, has led various departments, including marketing, training, procurement, ancillary services, and revenue management. In his new role, he will provide strategic oversight for the long-term growth of the Multifamily Asset Services platform while managing assets for major institutional clients. Stone has been with the firm for 14 years, starting at Pinnacle, which Cushman & Wakefield acquired in 2020.

Graf has been at the helm of the property management firm, which has 180,000 units in 32 states and Washington, D.C., since 2008.

“I have always approached business as a builder—my father and grandfather were physical builders in the development industry. That ethos is incredibly important to building business and relationships. I am confident that Woody will continue leading and developing this platform with that core tenet,” says Graf.

Graf’s legacy includes serving as a former professor of real estate in the Dallas County Community College District and as the chairman of the National Apartment Association (NAA) in 2021.

“For more than 40 years, Rick’s leadership has helped to shape and influence the rental housing industry. His years of commitment are marked with immeasurable professional accomplishments, all in addition to his dedication to volunteerism at all levels of the industry,” says NAA president and CEO Bob Pinnegar. “Most recently serving as NAA’s chairman in 2021, Rick helped the industry navigate the unthinkable obstacles of the pandemic and become even more prepared for the challenges and opportunities of the future. I thank Rick for all that he has done for so many of us and wish him all the best in this next chapter.”