Multi-Housing News - January 2009 - (Page 8)

executive insight Rent Growth Still Expected Thomas K. Shelton shares strategies for 2009 Thomas K. Shelton, CAPS, CPM, is the new president of Western National Property Management, the multifamily management arm of Western National Group. Western National Property Management currently oversees the management of over 20,000 residential units, valued at more than $3 billion. In his new position, Shelton will lead a team of real estate professionals who supervise a portfolio of assets owned by Western National Group, as well as assets owned by third-party clients. Shelton previously served as regional partner of Greystar Real Estate Partners where he supervised a portfolio of 26,000 units throughout the western United States. He is also a past president of the National Apartment Association (NAA) and a member of the National Multi Housing Council (NMHC). Shelton talks to Online News Editor Anuradha Kher about the challenges of taking on the role of president at such a difficult time, his plans for the company, and why the Obama administration creates uncertainties about investment strategies. What challenges do you face as president of the company in such troubled times? The challenges in this position at the present time are similar in nature to those of my peers across the country. Fortunately, the balance of our portfolio is located in Orange County, Calif., one of the more stable markets in the country, as evidenced by the fact that we intend to see some rent growth in our portfolio next year. So, while we are not immune to the softness of the overall economy, the overall stability of our portfolio will allow me an opportunity to focus on operational excellence, the continued development of our people, continued opportunities for revenue growth and expense reduction, as well as business development. Why did you decide to take up this job during a downturn? Did you fear that you might not succeed? The opportunity to be the president of one of the country’s most respected real estate companies is one that does not come along frequently. I see Q&A Incredible hot water delivery from a space-saving, convenient package. When the application calls for lots of hot water, call on the High Performance Series™ from Bradford White. The High Performance Series™, available in 25 and 55-gallon capacities, combines some of the best aspects of tankless and tank-type water heaters: A small footprint and high volume hot water deliverability. High Performance models achieve their tremendous output with the help of high BTU inputs, a specially designed Helical Fin flue, the Optimizer™ Temperature Control System and the Hydrojet2™ Total Performance System. Find out how the High Performance Series™ can help your customers get all the hot water they need. Visit www.bradfordwhite.com or talk to your Bradford White sales representative. HIGH PERFORMANCE SERIES™ FEATURES • HIGH INPUT25 gallon (GX2-25S) – 78,000 BTU/Hr 55 gallon (GX1-55S) – 80,000 BTU/Hr • Helical Fin Flue • Hydrojet2™ Total Performance System Maximizes heat Designed for higher exchange capabilities input applications • Optimizer™ Temperature Control System - Bradford • Standard 4" Venting White's integrated mixing • Side Tappings For device Space Heating Built to be the Best ™ www.bradfordwhite.com • 866.690.0961 ©2008, Bradford White Corporation. All rights reserved. For more information, visit www.multi-housingnews.com/productinfo 8 January 2009 | Multi-Housing News | Official Publication of Multi-Housing World http://www.bradfordwhite.com http://www.bradfordwhite.com http://www.bradfordwhite.com http://www.multi-housingnews.com/productinfo

Table of Contents for the Digital Edition of Multi-Housing News - January 2009

Multi-Housing News - January 2009
Contents
From the Editor
Market Pulse
Executive Insight
Economic Forecast 2009: The Year Ahead
Apartment Market Outlook
Development & Design: Walkable Neighborhoods
Property Management: Handling Risk in a New Age
Directory: Top Brokers
Kitchen & Bath: Rehabs
Products: Noise Control
Technology: Property Management Software
Property Showcase: St. Regis, Bal Harbour

Multi-Housing News - January 2009