Riverstone Promotes Ottesen to CFO

Dallas–Riverstone Residential Group, a national third-party multifamily apartment management company, has promoted Pål Ottesen to chief financial officer. Ottesen, has been serving as the company’s interim chief financial officer, and will combine this new post with his existing role as the company’s chief administrative officer, assuming responsibility for accounting, investor relations and treasury functions across all Riverstone Residential Group and CAS Partners business lines and subsidiaries.

Ottesen began his real estate career in 1991 with HSC Real Estate, where he gained experience in property management and became a principal. For his last eight years at HSC he was responsible for all operations of the company’s 35,000-unit portfolio. Since the acquisition of HSC by Riverstone in 2008, he has served as the chief operating officer of the West division as well as chief administrative officer.

“Pål’s financial acumen and 20 years of experience in the real estate industry have proven invaluable in helping to execute Riverstone’s growth strategy,” Walt Smith, CEO of Riverstone Residential Group, says.