The NRP Group Promotes Phillip Boatwright to Executive Vice President of Property Management
CLEVELAND, Dec. 17, 2019 /PRNewswire/ -- The NRP Group, a vertically-integrated, best-in-class developer, builder and manager of multifamily housing, today announced that Phillip Boatwright has been promoted to the position of Executive Vice President of Property Management, reporting to Erick Waller, Principal and President of NRP Management, a subsidiary of The NRP Group.
In his new role, Boatwright’s scope of responsibility expands to include property management operations for NRP’s entire portfolio of affordable and market-rate rental communities across the U.S. Previously, he oversaw NRP’s market-rate multifamily properties and market-rate third-party management services, but not of the company’s affordable portfolio.
“During his six-year tenure with NRP, Phillip has demonstrated a full embrace of the NRP mission – to create exceptional rental opportunities for individuals and families, regardless of income,” said J. David Heller, CEO of The NRP Group. “Phillip works tirelessly with his team to provide safe, high-quality living experiences in communities that residents are proud to call home. We are very excited to see Phillip expanding his leadership role at The NRP Group.”
Boatwright will now oversee a property management staff of 450 people and a $1.5-billion portfolio comprised of 140 properties, 20,000 existing apartment units, and 11,000-unit pipeline.
“Phillip comes to work every day with new ideas about how to improve the lives of our residents,” Waller said. “He has been a key part of building NRP’s reputation for creating apartment communities where residents want to live and stay. He is relentless in making sure each of our team members feels supported and appreciated, and in fostering our can-do, proactive workplace culture. To put it simply, Phillip cares for our NRP associates and they, in turn, show great care and appreciation for our residents.”
Boatwright and his team have executed over 35 highly successful lease-ups in the past five years and helped deliver nearly $1.5 billion in asset dispositions on the market-rate side of the business with a sale-price-over-cost value creation of 35 percent. In the last two years, net rents at properties overseen by Boatwright have increased $0.05 per square foot, on average, resulting in $10 million in net proceeds.
Because of Boatwright’s energetic leadership style and track record, he is a sought after speaker at industry conferences, such as National Multifamily Housing Council (NMHC) OpTech Conference & Expo and annual Vision Conference hosted by multifamily training services provider Grace Hill. He is often quoted in industry publications such as Multi-Housing News, the National Apartment Association’s UNITS Magazine, Multifamily Executive, and Realtor Magazine.
Before joining The NRP Group, Boatwright worked with MAA/Colonial Properties (merger) for 11 years, in several roles of increasing responsibility in property management. Boatwright holds a BS in Residential Sciences from The Florida State University and an MBA from the Jesse H. Jones School of Business at Texas Southern University. He resides with his wife and three young children in Tampa, Florida.
“I am very energized by the continued growth of The NRP Group and I look forward to this amazing opportunity,” said Boatwright. “Our actions in NRP Property Management will continue to be guided by listening to the needs, wants and desires of both residents and employees as we strive to become the very best at what we do. The quality and passion of our team allows us to dream big and know that we will work together to make the dreams a reality.”
About The NRP Group
The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing. Since the company’s founding in 1994, NRP has delivered more than 35,000 apartment homes, and currently manages over 20,000 residential units. The company utilizes the entire breadth of its in-house capabilities to fulfill its mission: creating exceptional rental housing opportunities for individuals and families, regardless of income.
Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provides the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market- rate, affordable, and senior housing. As a three-time recipient of the National Association of Builders Multifamily Development Firm of the Year and recognized Top 25 Developer by Multifamily Executive, NRP is leveraging its decades of practice by also providing construction and property management services to outside owners and developers. For additional information, visit www.nrpgroup.com.
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SOURCE The NRP Group