Cleveland’s NRP Group names EVP of property management

Cleveland-based NRP Group, a developer, builder and manager of multifamily housing, promoted Phillip Boatwright to the position of Executive Vice President of Property Management.

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.

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.

Boatwright and his team have executed more than 35 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.