National residential property management company Renters Warehouse, headquartered in Minnesota, has announced the hiring of real estate executive Anthony Cazazian as Chief Investment Officer and President of Portfolio Services.
With the addition of Cazazian, Renters Warehouse is taking its national roll-up strategy and new Portfolio Services Division to the next level, according to an announcement from the company.
Cazazian, who was recognized as a Rising Star in 2016 by multiple industry publications, most recently served as EVP and Head of Originations for B2R Finance, a subsidiary of private equity firm Blackstone. Cazazia, one of the company’s first hires in 2013, helped build the company from its inception. While at B2R, he led the Institutional Lending Program responsible for the company’s largest clients. Prior to working at B2R, Cazazian spend more than 8 years in various roles with Goldman Sachs, including working in the Real Estate Investment Banking and Real Estate Financing Groups, most recently as VP.
“Renters Warehouse is the largest national third-party property management firm focused on the single-family rental asset class. Its unique offering with corporate owned offices, centralized back-office operations, and local expertise on the ground allows it to offer clients standardized services and institutional level reporting nationwide in an industry that remains extremely fragmented with no consistent service level,” Cazazian said.
Cazazian will be based in a new Renters Warehouse flagship location in New York City, where his goals with the company will include attracting institutional-level SFR owners to the company’s Portfolio Services Division, acquiring and integrating property management companies nationwide, and establishing strategic partnerships throughout the industry. His ultimate goal with Renters Warehouse will be to grow the company from its currently level of approximately 16,000 homes under management to more than 200,000, according to the announcement.
“I’m thrilled to welcome Anthony to Renters Warehouse. This is a big win for our growing team. His extensive background and industry knowledge will allow us to scale our Portfolio Services Division faster and smarter than ever,” said Kevin Ortner, CEO of Renters Warehouse. “We are looking forward to having Anthony oversee the company’s acquisition strategy and Portfolio Services Division. This role will draw well on his unique experience in investment banking, finance, and executive leadership in addition to the network of relationships he has built over the years to help Renters Warehouse dominate the SFR property management market.”
In other Renters Warehouse news, growth equity investor Northwestern Pacific Group acquired a majority stake in the company in Fall 2015. Northwest Pacific Group, also based in Minnesota, invested growth capital into Renters Warehouse to fund further expansion in order to convert it from a franchise-based model to a corporate-based model.