Multi-Housing Executives Update: Pinnacle Hires New Central Region VP, and Other Moves

Dallas—Pinnacle has hired Lynne Shirley as its new central region vice president. She will be responsible for new business development, recruiting and developing strong management teams for Pinnacle’s Gulf Coast portfolio.Shirley has over 26 years of property management experience. Before joining Pinnacle, Shirley worked for Greystar Real Estate Partners for 15 years and held numerous positions within Greystar’s several divisions including management, development and most recently as a senior director in their Charleston, S.C.-based asset management division.  Kaled Management Forms Asset Management GroupNew York–Kaled Management Corp. has formed a new division to provide third-party asset and property management to institutional owners of stabilized apartment properties. Jordan Platt, the company’s vice president of operations, will be will be spearheading the new division, Kaled Residential Asset Management. Kaled Residential Asset Management division will specifically serve owners of individual apartment buildings and portfolios of rent-stabilized housing to insure the successful maintenance of the property and enhance each asset for long-term ownership or disposition. “Rent stabilized housing is vital to New York, and is an asset class that will always have value if it’s managed properly,” Platt says. “There have been a number of opportunistic investors that viewed rent-stabilized housing as a treasure trove opportunity, with overly aggressive plans to destabilize the units into market-rate rentals.” But we view these assets as serving an important purpose – providing workforce housing to New Yorkers – and also provide an evergreen, conservative income when managed by people who know what they’re doing, and how to work well with their tenants and within the confines of the complex stabilization regulations.”