PHOENIX—As previously reported on GlobeSt.com, Alliance Residential has promoted V. Jay Hiemenz to president and chief operating officer. Hiemenz is a founding partner of Alliance and has been an integral part of Alliance's growth since the company's inception. As chief financial officer, he has been a steward of capital, raising roughly $8 billion worth of multifamily capital and helping established Alliance's platform and policies, as well as finance strategy. With the promotion to president and COO, Hiemenz expands his responsibilities to oversee overall operations of the company. GlobeSt.com recently caught up with Hiemenz to speak about the transition to his new role in the company.
GlobeSt.com: What are some of your strategies for raising capital?
Hiemenz: We have great relationships with more than 20 institutional real estate investors, and have done significant repeat business with all of them. Because we have an exceptional track record with these investors and most are large firms who are not geographically constrained, we are able to offer them multiple investment opportunities across diversified markets nationwide. This strategy should continue to provide the capital we need to finance our pipeline.
GlobeSt.com: How will you proceed as COO?
Hiemenz: I intend to carry on and augment what I see as our strategic advantages in the market. Iin a nutshell: If it ain't broke… We have a premier, vertically-integrated multifamily company that successfully executes with regard to acquisition, construction, development, property management and investment management. We will increase our market share in some of the newer markets we have entered in 2013, namely the Southeast and Northeast. We will increase our management presence across the same national footprint we invest in, and will continue to invest heavily in R&D to make us the best operator and maximize the value created for our investors.
GobeSt.com: How has your experience thus far prepared you for your new role?
Hiemenz: Having spent time on both the operations and the financing sides of our business, I have a unique perspective when it comes to understanding how the pieces of our vertically-integrated company fit together. In addition, as one of the founders of the company, I have personally established relationships with many of the firms we do business with now and will continue to work with in the future.
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