Fifield Realty Corp., a subsidiary of Chicago-based developer Fifield Cos., announced that Justin Pease has joined the firm as vice president of asset management.
In this role, Pease is responsible for managing a portfolio of seven multifamily assets in Chicago and Texas for which he will create and implement asset-specific business plans and drive the financial performance of the portfolio.
Previously, Pease was a property manager at Greystar Management Services, where he oversaw the successful lease-up of the 353-unit Class A luxury E2 apartments in Evanston, Ill. He developed and executed an operating budget for the property, and in 2015 he exceeded the budgeted net operating income by 48 percent. At Greystar, Pease also built and led a staff of 10 management, leasing, maintenance and concierge team members.
“I am honored and eager to bring the property management skills I’ve acquired over the past decade to Fifield Realty Corp.,” Pease said. “The demand for luxury apartments in urban settings is incredibly high across the country, and Fifield properties are on the cutting edge of what renters want. It’s a privilege to be entrusted with overseeing the long-term operational and financial success of Fifield properties in Chicago and Texas.”
Prior to joining Greystar, Pease was a business manager at Lincoln Property Co. where he managed the 350-unit mixed-use apartment project Ovaltine Court in suburban Villa Park, Ill. While there, he implemented aggressive expense reduction measures through contract negotiations resulting in a 10.2 percent annualized increase to net operating income. And before his tenure with Lincoln Property Co., Pease was a renewal manager for Schaumburg, Ill.-based Penobscot Management where he achieved a region-leading 62 percent retention. Pease also served as property manager at Village Green Companies in Rochester Hills, Mich., just outside of Detroit.