Pinnacle Finishes Strong in 2013, Prepares for Strategic Growth in 2014
“Last year was an exciting time for Pinnacle’s west division as we added several institutional accounts and expanded our presence in the southern California and Phoenix markets”
Pinnacle continues to invest in the future of the organization. As part of enhancing its operations platform, Pinnacle modified its national platform into two divisions. The west division, led by Executive Vice President Eric Schwabe, is comprised of all major markets west of Denver. The newly formed east division, led by Executive Vice President Woody Stone, is comprised of the major markets from Denver to Washington D.C.
“Last year was an exciting time for Pinnacle’s west division as we added several institutional accounts and expanded our presence in the southern California and Phoenix markets,” said Schwabe. “I believe Pinnacle’s two division platform will be beneficial to the company and our clients. I’m excited about our team and I look forward to a successful year in 2014.”
Pinnacle promoted Stone to Executive Vice President of Pinnacle’s east division, effective January 1, 2014. Stone has led Pinnacle’s strategic services group for the past four years and brings more than 15 years of multifamily experience to his new role.
“Woody is an integral part of our executive team and we are very excited to have him lead our east division,” said President and Chief Executive Officer Rick Graf.
In addition to Stone’s oversight of the east division, he will assist in strategic planning and client development.
“We have great expectations for the east division as we continue to grow our established markets as well as our key growth markets of Denver, Houston, Atlanta, and the Carolinas,” Stone said.
In 2013, Pinnacle made key hires and opened new offices to support its growth goals in both its west and east divisions. For its west division, Pinnacle hired Investment Manager Sandi Cashen to lead its recently expanded Phoenix office. Cashen brings more than 25 years of property management experience to the company.
For its east division, Pinnacle brought in Regional Vice President Greg Mark to develop its presence in the Southeast. Mark brings more than 20 years of experience to Pinnacle’s newly opened Atlanta office.
Pinnacle continues to make strategic investments within its platform which has yielded outstanding results for its clients. Additionally, Pinnacle’s commitment to enhancing its corporate governance programs has established Pinnacle as a preferred provider among institutional investors.
“2013 was an exceptional year for Pinnacle,” Graf said. “We added more than 10,000 new units to our portfolio and grew our institutional client base significantly with such clients as TIAA CREF, Henderson Global Investors, AEW, UBS, Capri Capital Partners, Canyon Capital Realty Advisors, and Starlight U.S. Multifamily. Additionally, we are excited about the 25 Class A developments we are managing through the various stages of lease-up. With development continuing to be steady in 2014, we fully anticipate growing our pre-development, marketing, and lease-up teams. 2014 will be an exciting year and we look forward to continuing our mission of enhancing our services and positively impacting the lives of people.”
In 2013, Pinnacle participated in the industry recognized CEL Survey to record satisfaction rates of clients across the country. The results of Pinnacle’s CEL customer satisfaction survey found that 95 percent of Pinnacle’s client base was either very satisfied or satisfied with the overall level of service and relationships. Pinnacle exceeded the industry high in accounting services and reporting, scoring a 96 among existing clients.
About Pinnacle Family of Companies
The Pinnacle Family of Companies is a national real estate provider, specializing in strategic investments, development and management of multifamily residential communities. As one of the nation’s largest third-party managers of multifamily housing, Pinnacle’s portfolio includes nearly 135,000 residential units and 2 million square feet of commercial assets. With the Corporate headquarters located in Dallas, Texas, Pinnacle has more than 40 regional and field offices with 3,000 employees located in 35 states, and 25 major metropolitan areas. In 2013, more than 95 percent of Pinnacle’s clients said they were either very satisfied or satisfied with the overall level of Pinnacle’s services and relationships. For more information, visit www.PinnacleFamily.com.