RMR Residential Appoints New President and CIO as Firm Focuses on Long-Term Growth
David Perez and Brett Richards Are Promoted Internally as the Firm Continues its Expansion as an Institutional Leader in Multifamily Real Estate
RMR Residential, a national real estate investment and management firm, has promoted David Perez to President and Chief Operating Officer, along with Brett Richards to Chief Investment Officer. These appointments are part of the continuing evolution of the Firm as an institutional powerhouse with $8 billion in assets under management, $20 billion in transaction volume across more than 200 acquisitions, and nearly 140 dispositions since inception.
Josh Champion, President & CIO, is moving on from RMR Residential. We thank Josh for his contributions to the Firm during the past 10 years and wish him well in his future endeavors.
David Perez joined RMR Residential in 2017 as the Firm’s Chief Operating Officer. He helped navigate RMR Residential through its recent rapid 50% growth, transforming company operations and leading the Firm through the challenge of the past two years, which have also been its two best performance years of all time. Perez’s data-centric, customer-minded approach helped position RMR Residential and its platform among the industry leaders for its verticals, setting the stage for sustained growth under his guidance. Prior to RMR Residential, Perez led financial advisory assignments for both EY and Houlihan Lokey and consulted on strategic technical work as part of Slalom Consulting.
Brett Richards came to RMR Residential in 2021 after a 20-year tenure overseeing investments for both Equity Residential and Blackstone/LivCor. Initially serving as Executive Vice President of Investments for RMR Residential, Richards’ experience has been pivotal to the Firm’s recent success – particularly in its westward expansion and the addition of Las Vegas and Phoenix as new MSAs in the Firm’s portfolio. As Chief Investment Officer, he will continue to helm RMR Residential’s investment strategy alongside a team of regionally diverse individuals who bring more than 100 years of experience across several blue-chip companies.
“David and Brett have been instrumental to the growth and success RMR Residential has experienced as a company,” said Patrick Carroll, founder and CEO of RMR Residential. “From navigating the unknowns of the past two years to executing our strategy en route to record transactions and new market growth, David and Brett have helped elevate RMR Residential to its current position – all while embodying the values that we strive for as a national organization.”
As an expanding company, RMR Residential remains heavily committed to reinvesting in its platform and people. The addition of seasoned executives from top institutional firms continues to enhance its leadership and culture, while expanding its service offering. Recent hires Stephen Hendrix, (Managing Director of Development), Rob Gayle (Vice President of Business Development), Sean Griffin (Vice President of Development), and Rob Lester (Senior Managing Director of Capital Markets and Investments) added new layers to the Firm’s platform, while Melanie Johns (Chief Financial Officer) and Franco Minton (Managing Director of People) solidified internal processes and highlighted the value the Firm places on development and culture.
About RMR Residential
RMR Residential, a privately held real estate company, was founded in 2004. With headquarters in Atlanta, Ga., and regional offices in Dallas-Fort Worth, Raleigh, Denver, Tampa, New York and now Los Angeles, RMR Residential focuses on multifamily communities, including acquisitions, property and asset management services, ground-up development and fund management. The Firm has raised more than $4.3 billion of equity through RMR Residential-sponsored funds and joint ventures. RMR Residential has successfully purchased, developed, or sold more than $20.0 billion in real estate.
The company manages more than 30,000 multifamily units across nine states representing $8.0 billion in assets under management and has purchased other multifamily owner/operators throughout the U.S. RMR Residential has also developed student housing, single-family residential, and retail communities, and has managed more than $500 million in construction projects throughout the past 10 years. From due diligence to execution, RMR Residential has the internal capabilities and the external relationships to identify, underwrite, and close transactions.
