Riverstone Residential Group Announces Senior Vice President Appointments

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Lesa LaRocca and Mark McElvain To Oversee Growth and Performance Initiatives for Regions in West, Central Divisions of Riverstone

"Lesa's mastery of property management fundamentals embodies true leadership," said Steve Davis, division president, West.

"Mark's proven real estate acumen will leverage new opportunities," said Stephanie Brock, division president, Central.

Riverstone Residential Group, one of the largest privately-owned, third-party multifamily property management companies in the United States, announces the appointments of two key leadership associates, Lesa LaRocca and Mark McElvain, ARM, CPM. Based in Phoenix, La Rocca will serve as senior vice president for the company's Desert region, which includes markets in Arizona, southern Nevada, New Mexico, and Western Texas. Denver-based McElvain will serve as senior vice president for Riverstone's Central Mountain region, which encompasses markets in Colorado, Kansas, Nebraska, and North Dakota.

LaRocca, a multifamily professional since 1987, holds extensive expertise on both the owner- and fee-managed aspects of the business. Her experience covers a diverse portfolio of assets, including lease-up communities and repositioned assets. Most recently, she held the position of regional vice president for Weidner Investments, where she oversaw a 27-property portfolio comprised of nearly 9,000 units. Additionally, LaRocca previously served as one the of the managing partners for Trillium Residential, where she directed the overall operations of roughly 8,000 units in new and acquired properties.

LaRocca has served on the board of directors for the Arizona Multifamily Association since 2005, and served as the chairwoman of the board for the organization in 2011. She currently sits on the board's executive committee. LaRocca holds a bachelor of arts degree in business communications from Arizona State University.

"Lesa's mastery of property management fundamentals demonstrated that she embodies the true spirit of leadership and broad-minded innovation necessary for achieving operational success," said Steve Davis, division president, West, at Riverstone. "Her proficiency in all aspects of the multifamily business will prove integral as we further explore strategies to maximize returns for our valued clients in the Desert region."

McElvain, who has been active in the multifamily industry since 1985, has honed property management and asset management expertise in REIT environments as well as in private entrepreneurial and fee-managed businesses. He has overseen the growth and revenue performance of assets in Arizona, California, Colorado, Florida, Nevada, Texas, and Washington. McElvain previously served in leadership roles for the United Dominion Realty, Western National Group, ConAm, Equity Residential, and Camden Property Turst.

McElvain is active in the Institute of Real Estate Management, and holds certified property manager (CPM) and accredited real estate manager (ARM designations. He holds a real estate's broker license in Arizona, and is a graduate of the University of Nebraska.

"Mark's proven real estate acumen will be critical in leveraging new opportunities and in driving optimum strategy execution, effectiveness and efficiency throughout the Central Mountain region," confirmed Stephanie Brock, division president, Central, at Riverstone. "We look forward to drawing on his expertise as we continue to develop innovative growth and performance solutions targeted to meet clients' specific needs and goals in this region."

About Riverstone Residential Group

Riverstone Residential Group, one of the largest third-party multifamily apartment management companies in the United States, is focused exclusively on the delivery of unparalleled property management as well as resident and ancillary services. Riverstone's core service groups include accounting, affordable housing, compliance and property audits, information technology, risk management, human resources, marketing and education, purchasing, and regional maintenance. Ancillary service groups include utility management services, resident screening and receivables management services, client and resident insurance, telecom services, and financial advisory services. The company manages a portfolio of multifamily assets valued at more than $17 billion for leading institutions, pension funds, developers and other major owners. Located in metropolitan markets across the nation, Riverstone's more than 700 communities and 170,000 apartment homes under management include high-rise, mid-rise, and garden-style communities in conventional, affordable and receivership assets. The company is headquartered in Dallas, TX. For additional information, visit http://www.RiverstoneRes.com or e-mail ClientServices(at)RiverstoneRes(dot)com.

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Susan Morrow
Morrow & Associates
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