Riverstone Residential Founder Terry Danner to Become CEO
- Sep 12, 2013
Riverstone Residential Group will soon have a new CEO. Terry Danner, co-founder and current president of the multi-family property management company, will take on the top position, stepping into the shoes of the departing Walt Smith.
Danner’s vision for Riverstone is clear. “We have already set a positive course to work in the best interest of our clients, and as chief executive officer, I’ll ensure that we stay that course while finding innovative ways to add value for our clients in an ever-evolving business climate,” he told Commercial Property Executive.
And he is more than well-equipped to lead the way. Danner has been hands-on at Riverstone since he joined forces with industry veteran Christy Freeland to form the company through a buyout of Trammell Crow Residential Services in 2006. He brings to the CEO position not only a history of leadership at Riverstone–he served as the company’s chief administrative officer before becoming president in 2010–but also a keen expertise in property management, cultivated over his quarter-century long career in the real estate industry. His previous executive positions include president and chief operating officer at Trammell Crow, and he also served as regional manager and vice president at Summit Properties.
As Riverstone’s CEO, Danner will pick up where Smith leaves off, leading the company with a distinct set of goals as it further strengthens its already strong position as a leader in multi-family property management and operations oversight. “I’ll continue to draw upon the strength of Riverstone’s core values, explore the ways in which we can further enhance our suite of property management services, find ways to further optimize our property operations practices, develop pathways for associate growth and development, and design strategies for creating inviting living environments for Riverstone residents,” Danner added.
And he will, as is customary at Riverstone, rely on the company’s executives and regional and divisional leadership to achieve those goals during what is quite an interesting time in property management. Things have changed, even in the short period since Riverstone made its debut. And Danner has his finger on the pulse. “I’m excited to be assuming the chief executive officer role at a time when our industry is benefiting from a greater cultural shift that favors the cost and flexibility afforded by the renter lifestyle,” he added. “To that end, I’m looking forward to developing strategies that help attract Gen Y and Boomer renters, and expanding our resident services to add value and convenience for those renters at every stage of their lives.”
Danner will also push full steam ahead with Riverstone’s focus on the role of technology in property management. “I’m looking forward to continuing to find ways to leverage technology in ways that allow us to analyze local data, capitalize on opportunities and industry trends, improve company-wide efficiencies, and reach our clients and residents in effective and compelling ways,” Danner concluded. “Residents have more demands on their time than ever before- our objective is to make their leasing process easy, provide them with the service they expect from a Class A operator, and help establish a community environment where they feel at home.”
Riverstone’s changing of CEO’s will take place over the next few weeks and it’s expected to be a smooth process, as Smith will assist with the transition. And Danner’s relationship with his predecessor won’t end there. Smith is bidding adieu to his job as CEO at Riverstone to return to his partners as principal at Investors Capital Group, which is–and will continue to be–a Riverstone client.