Pollack Shores Appoints CEO, Shares Growth Strategy for 2018

Press Release

ATLANTA (Jan. 23, 2018) – Atlanta-based multifamily investment firm Pollack Shores Real Estate Group announced today the appointment of Steven Shores as CEO. Marc Pollack will remain as Chairman, with a continued focus on strategic initiatives and deal generation in concert with Shores.

“This is a long-planned transition for our company,” said Pollack, who co-founded the company with Shores in 2006. “Positioning Steven at the helm as CEO, with his focused approach and steadfast leadership, will ensure continued success for our firm.”

“When Marc and I started the company almost twelve years ago, we set out to create a best in class multifamily investment and operating company,” said Shores. “Part of that was putting together a great team and planning for growth. I’m excited to take on the CEO role at this time. We achieved our initial goals and have now set new ones. Building off our successful track record, we plan to expand into new markets in the Southwestern US—a process that began last year. Further, we are building strategies and teams around several new product line ventures within multifamily housing. We see significant opportunities in the multifamily industry to enhance and expand our company’s reach.”

Pollack Shores began the formal transition process last year with the promotion of Michael Blair to Chief Operating Officer. Blair joined the firm in 2006 and led development efforts for the company.  Pollack Shores also promoted Brian Metzler to Blair’s former position of Managing Director of Development. Metzler will lead all development efforts for the company and he will be assisted by Director of Development Brian Oates, who will focus on the construction of projects.

The announcement comes on the heels of a successful 2017, with approximately $1 billion in transactions. Over the last year, Pollack Shores sold $328 million in assets and invested $550 million in acquisitions of existing properties and new, ground-up developments. The company also began its expansion into the Southwestern U.S. with acquisitions in Austin and Dallas. Just last month, Pollack Shores acquired Menlo Creek, a Class A apartment community in Duluth, Georgia; sold Havana Square, an apartment community developed by Pollack Shores in Tampa, Florida; and began development of a 252-unit luxury apartment community in suburban Tampa, Florida.

Matrix Residential, a wholly owned subsidiary of Pollack Shores, also expanded its property management footprint in 2017 to over 25,000 units under management. Shores plans to continue the firm’s growth momentum in 2018.

“I’m honored and privileged to lead and work with such a great group,” said Shores. “Both Marc and I are optimistic about the strong fundamentals that support the multifamily business.”

The remainder of Pollack Shores’ executive team includes CFO Bruce Sanders, Managing Director of Asset Management Andrew Wittgen, Southwest Managing Director Alex Seals, Matrix Residential Managing Director Tracy Bowers, and Director of Human Resources Krista Messic.

For more information about Pollack Shores, please visit www.pollackshores.com.

About Pollack Shores Real Estate Group, LLC

Pollack Shores is an award-winning full service real estate company creating value through multifamily investment opportunities throughout the Sun Belt. Founded in 2006, the Atlanta-based company currently owns $1.6 billion in total assets, and manages a balanced portfolio of nearly 26,000 multifamily units. Pollack Shores fully embraces the core value of service to its community, its residents and its clients.