Riverstone Adds 2,400 New Units to Management Roll
- Jul 10, 2008
Dallas-based Riverstone Residential Group has been awarded the management of 2,372 units in eight states. Riverstone added 14 apartment communities to its management portfolio for a new total of 192,000 apartment units under its umbrella. The properties are located in California, Connecticut, Idaho, North Carolina, Oregon, Tennessee, Texas and Washington. “Being a national company, we have 37 offices in 30 states and we’re always looking for opportunities for what we consider to be organic growth. It happens in a number of ways. It may be a new management company or we may have an asset and see an under-developed property down the road that isn’t performing as well as ours. We may contact them about a change in management,” Christy Freeland, Riverstone CEO, told CPN. Riverstone Residential Group offers resident management services as well as property insurance, renters insurance, purchasing, energy procurement, utility rebilling, renovation construction, capital needs assessments, operational audits, acquisitions and disposition services. A subsidiary of Consolidated American Services Inc., Riverstone is the largest privately owned property management company in the United States. The company’s portfolio currently includes more than 192,000 units nationwide.