DALLAS, TX (September 9, 2014) – Pinnacle Property Management Services, LLC, (“Pinnacle”), a privately held national real estate management services firm, today announced the transition of ownership under the leadership of four senior team members. Rick Graf, President and Chief Executive Officer; Larry Goodman, Chief Operating Officer; Eric Schwabe, Executive Vice President; and John Carrosino, Chief Financial Officer, will continue to manage the company’s day-to-day operations. In addition to the senior leadership team, El Paso-based Hunt Companies, Inc. (“Hunt”), through a subsidiary, has invested in Pinnacle.
“We are very excited about our future and the outstanding opportunities this will provide for our team members and clients,” said Pinnacle President and CEO Rick Graf. “Our focus is not to be the biggest, but to be the best providing local market knowledge and expertise. We have the national platform that serves institutions well while maintaining a culture that allows for a personalized client experience.”
Pinnacle’s clients and nearly 3,000 team members will see minimal changes as a result of the transaction. The company’s corporate headquarters will remain in Dallas, with additional operation centers in Seattle and Orlando. The company will continue to provide services for the former founder’s assets and will remain focused on strengthening its efforts in strategic target markets, including Atlanta, Denver, Chicago, Phoenix and Houston.
Founded in 1980, Pinnacle is a leading multifamily management company in the U.S., offering a broad range of services including property management, asset management, association management, due diligence, and development/construction management services.
“We’ve had a positive long-term relationship with Pinnacle and are pleased to have the opportunity to invest in the company,” said Woody Hunt, Chairman and CEO of Hunt Companies, Inc. “The quality of Pinnacle’s team members, platform, and clients is exceptional. Rick Graf and the leadership team have built an extraordinary company and we are proud to be a part of Pinnacle’s future.”
About Pinnacle Property Management Services, LLC
Pinnacle Property Management Services, LLC, (“Pinnacle”) is a privately held national real estate provider, specializing in third party management of multifamily residential communities. As one of the nation’s preferred third-party managers of multi-family housing, Pinnacle’s portfolio includes nearly 135,000 residential units and 2 million square feet of commercial assets. With the Corporate headquarters located in Dallas, Texas, Pinnacle has 3,000 employees located in 35 states and 25 major metropolitan areas. For more information, visit www.pinnaclefamily.com.
About Hunt Companies
Hunt Companies, Inc. is a national developer, investor and manager of real assets providing a broad range of services to public and private sector clients, including financial services and asset management. Founded in 1947 and headquartered in El Paso, Texas, Hunt has more than 1,200 employees across the United States. Together, Hunt and its affiliates have $26.3 billion in assets under management, including 271,770 multifamily units and 5.2 million square feet of office, retail and industrial properties. Hunt has offices throughout the United States, including Atlanta, Boston, Chicago, Columbia (SC), Dallas, Denver, El Paso, Fort Lauderdale, Honolulu, Los Angeles, Miami, New York, Philadelphia, Sacramento, San Francisco and Washington, D.C., and international offices in Abu Dhabi, London and Mexico City. To learn more about Hunt, please visit www.huntcompanies.com.