RangeWater Real Estate’s Property Management Team Continues
Strategic Expansion Across the Sun Belt and Mountain West Regions
ATLANTA (September 7, 2023) – RangeWater Real Estate, a fully integrated rental housing company with assets across the Sun Belt and Mountain West, announced today that its property management portfolio oversees 100,000 multifamily units and build-to-rent homes in 200+ cities across 12 states.
“Our goal as an organization has never been to get bigger, but to get better,” says RangeWater Chairman and CEO, Steven Shores. “Our property management team brings our firm’s innovative, collaborative, and experience-first approach to each partnership, and enables us to leverage those insights to inform strategic decisions across our entire platform.”
RangeWater’s thoughtful growth strategy is attributed to the company’s local presence, expert knowledge, and solid execution in major MSA markets. This allows the team to maximize economies of scale and shared resources in key regions. These target submarkets continue to attract new jobs and people seeking quality housing.
RangeWater earned national recognition earlier this year by ranking twice on the National Multifamily Housing Council’s (NMHC) 2023 Top 50. This annual list highlights the nation’s largest apartment owners, managers, developers, builders, and syndicators. RangeWater claimed the #12 spot on the largest managers in the country with 97,072 apartments and build-to-rent homes, and ranked #24 among top developers with 2,774 units started in 2022.
Jumping from its previous list ranking of #17 in 2022 and #33 in 2021, RangeWater has more than doubled the number of communities under management since 2020. Last year, RangeWater was awarded over 200 communities or 39,337 apartments. This year already, the team has 100 new assets awarded.
RangeWater’s continued investment in their property management new business team has also contributed to this milestone occasion. Bobbie Norris was promoted to Managing Director of Business Development in May of last year, and Danielle Koontz joined the team two months later as Senior Director of Business Development to oversee growth in the Southwest.
“We bring an informed perspective to our partners and investors,” adds Sherry Freitas, RangeWater’s executive managing director of property management. “90% of our portfolio exists because of our trusted third-party relationships. RangeWater’s ability to organically plant ourselves in a neighborhood not only creates community for our residents, but redefines it.”
These growing relationships most recently led to RangeWater being ranked #1 on the Atlanta Business Chronicle’s 20 Largest Apartment Property Management Companies list published earlier this month. Jumping from its previous list ranking of #4 in 2022, RangeWater has significantly increased the number of communities under management in Atlanta to 26,572 to date.
Furthering its commitment to strategic growth and product type diversification, RangeWater recently promoted Patrick Burke to Senior Managing Director of Property Management, Build-to-Rent. In this role, Burke oversees RangeWater’s national BTR platform including not only the firm’s owned portfolio under the Storia brand, but also all third-party management assignments.
Since first launching its BTR division in 2020, single-family neighborhoods now represent 23 percent of RangeWater’s overall management portfolio unit count, with conventional multifamily making up the rest. Additionally, over 30 clients have awarded the firm over 169 BTR assets representing 23,004 homes nationwide to date.
Founded in 2006, privately-owned RangeWater acquires, develops, manages, and invests in multifamily communities across the Southeastern and Southwestern United States, with a balanced portfolio that exceeds $6.6 billion.
For more information, please visit LiveRangeWater.com.
About RangeWater Real Estate
RangeWater leads the rental housing industry by leveraging the insights learned across its unique Development, Property Management, Acquisitions, and Investment Management platform to benefit clients, partners, and residents throughout the Sun Belt and Mountain West. The Atlanta-based firm’s entrepreneurial approach and focus on collaboration have led to the development and acquisition of nearly 35,000 rental housing units since its inception in 2006 representing more than $6.62 billion in total capitalization. RangeWater blends local market knowledge and subject matter expertise to create places and experiences that redefine community, currently managing a portfolio of over 100,000 multifamily units across 12 states. With offices in Atlanta, Dallas, and Denver, RangeWater targets high job growth markets with demand for new housing. For more information, visit LiveRangeWater.com.