Avenue5 Residential Names Dave Ohlrich as Executive Vice President of Mid-Atlantic Multifamily Operations

SEATTLE, March 11, 2019 /PRNewswire/ -- Avenue5 Residential, a multifamily property management services firm, announces that it has appointed Dave Ohlrich to serve as its executive vice president for the Mid-Atlantic region. In this new role, Ohlrich will drive Avenue5's vision in the region. He will also lead Avenue5's local operations, marketing, and maintenance leaders and assist them in optimizing operations for Avenue5's managed properties in the region, while building a scalable operations foundation that will support Avenue5 clients in their expansion strategies. Ohlrich will join Avenue5's division president for the Western region, Lisa Ellis, and executive vice president for the Southwest and Central regions, Lesa LaRocca, on the company's executive operations leadership team.

"Dave brings a wealth of East Coast market multifamily operations experience to Avenue5, and we believe that he is well positioned to provide an additional layer of support to our teams as they continue to build value for assets located in the Mid-Atlantic region," confirmed Steve Davis, chief operating officer at Avenue5. "His expertise will be critical in delivering operational excellence and long-term performance for our assets under management."

Ohlrich began his real estate career in 1987, and has overseen multifamily assets in markets across the East Coast. He holds extensive expertise in leading operations and capital investment projects for diverse multifamily asset types, ensuring that properties' revenue milestones are achieved through effective operational strategies, restructuring property management processes to address operational gaps and improve efficiencies, instituting accountability programs to assess performance, managing due diligence for acquisitions, generating detailed business plans and financial models, and implementing improved risk management, insurance, and supplier relations processes.

Prior to joining Avenue5, Ohlrich served in executive roles at organizations including Kettler, Federal Capital Partners, NVR, and Equity Residential. He holds bachelor's degrees in engineering and architecture from the University of Michigan, and a master of business administration degree from the University of Michigan Stephen M. Ross School of Business.

For Avenue5 chief executive officer Walt Smith, Ohlrich's new role will prove invaluable as the company plans the further expansion of its property management services for institutional investors, advisors, high-net-worth individuals, and other multifamily owners interested in opportunities on the East Coast.

"Our client base has shown an increasing interest in maximizing their growth potential in markets ranging from Atlanta to Boston, and Dave has a proven track record in driving results in these geographic areas," stated Smith. "Under Dave's leadership, we look forward to leveraging the strength of our operations, marketing, and maintenance experts in order to support our clients' complex and rapidly changing needs."

Ohlrich will be based in the Washington, DC area, and will report to Davis.

About Avenue5 Residential
Avenue5, a multifamily property management services firm, oversees more than 290 properties and 55,000 units in 12 states. The company is headquartered in Seattle, and has offices in Denver, Orange County, Phoenix, Portland, Salt Lake City, San Diego, Spokane, and greater Washington, DC. In addition, Avenue5 retains local experts in major markets including Northern California, Reno, Las Vegas, Albuquerque, Colorado Springs, Austin, San Antonio, Dallas, and Baltimore. The firm employs about 1,500 associates nationwide. www.avenue5.com

SOURCE Avenue5 Residential

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