Mark Morgan, CPM Named President of Interstate Realty Management
24-Year Veteran Started with Firm as a Leasing Specialist
Marlton, NJ, March 31, 2009—Interstate Realty Management Company (IRM), a leading national property management firm and an affiliate of the Michaels Organization, today announced the appointment of Mark Morgan, CPM as president. Morgan, a 24-year veteran of the company whose first job was on-site leasing specialist, will oversee a portfolio of more than 33,000 apartment homes at 250 communities in 26 states, the District of Columbia and the U.S. Virgin Islands.
“Mark brings tremendous knowledge of every facet of our operations to his new role as president of Interstate Realty Management,” said John O’Donnell, chief operating officer and executive vice president of the Michaels Organization. “His solid experience with us is a significant advantage, but so is his commitment to ongoing innovations that create value for our residents, our partners, our lenders and our investors.”
Headquartered in Marlton, NJ, with 14 regional offices nationwide, Interstate Realty Management is a proven leader in managing mixed income, market-rate, and affordable apartment communities, including Low-Income Housing Tax Credit and Section 8 properties. Since its founding in 1973 by housing pioneer Michael J. Levitt, IRM has been recognized with numerous industry awards and hailed for its innovative social services programs, which include onsite computer learning centers, after-school tutoring, and employee training and referral services.
Before assuming the role of president, Morgan served as vice president of Asset Management for the Michaels Organization. In that position, Morgan was responsible for the acquisition of new assets and the disposition and recapitalization of the existing Michaels portfolio. Prior to that, Morgan served as a regional vice president for IRM, supervising a portfolio of more than 50 properties. During his long career with the company, Morgan also served as a district property manager.
As a Certified Property Manager (CPM) through the Institute of Real Estate Management (IREM), Morgan has held numerous positions within the Southern New Jersey Chapter of IREM including president in 1996, the year that Chapter earned a national “Chapter of the Year” award. Morgan also holds a Certified Professional of Occupancy designation from the National Affordable Housing Management Association. He received a Bachelor of Arts degree in Political Science from Gettysburg College and is a NJ licensed real estate broker. He resides in southern New Jersey with his wife Libby and their four children.
Morgan succeeds James Henderson, who retired as IRM President in October 2008, after 26 years.
Editor’s Note: A photo of Mr. Morgan is available upon request to lzaner@irmmgmt.com
About the Michaels Organization: Headquartered in Marlton, NJ, The Michaels Organization comprises seven affiliated companies—including Michaels Development Company, Interstate Realty Management, and Michaels Military Housing— dedicated to excellence in affordable, mixed-income, and military housing. Since its founding by Michael J. Levitt in 1973, the Michaels Organization has developed, financed, or acquired more than 40,000 apartments, and currently manages 27,000 units in 26 states, the District of Columbia, and the U.S. Virgin Islands. In 2008, Affordable Housing Finance magazine ranked Michaels Development Company as the Number 1 affordable housing owner in the United States. The company has won numerous industry awards and has been recognized as a pioneer for its success using Hope VI, a major Housing and Urban Development program designed to revitalize the country’s worst public housing projects by transforming them into mixed-income developments. In 2004, the Michaels Organization created Michaels Military Housing to develop, finance, build and manage best-in-class residential communities for military personnel. Most recently, Michaels Military Housing completed the historic renovation of officer housing at Fort Leavenworth, Kansas.