Dallas-based single-family home leasing company Invitation Homes Inc. announced several strategic leadership changes it said would address continued growth and prepare the company for future expansion. The moves highlight the formation of a specialized build-to-rent team and the restructuring of the company’s field divisions.
A new dedicated build-to-rent asset management team will be led by Alicia MacPhee to capitalize on BTR market opportunities, according to a news release. The company is also restructuring into three field divisions for resident experience oversight. The moves could expand its portfolio and add to service delivery and resident satisfaction capabilities.
President and COO Charles Young said the company’s “business continues to grow and mature, creating opportunities to build on our excellent operational foundation.”
“With our current growth trajectory and plans for continued expansion, it’s imperative that we’re organized in a way that enables us to scale using the full capabilities of our platform,” he said in a statement. “As the nation’s premier home leasing company, we rely on the strength of our people, and we appreciate the value these leaders bring to our company as well as to the systems, processes, and teams in their respective organizations and professions.”
Invitation said the changes will be in effect by the end of the year after a brief transition period. Here’s a rundown of the moves.
Leadership changes
Build-to-rent team
Alicia MacPhee, senior vice president, Field Division, will move into the newly created role of SVP, BTR Asset Management. Her tenure in all forms of real estate, including 18 years with Pulte Homes, will provide an excellent foundation for her to oversee and capture additional value in all aspects of the company’s BTR growth and operations, the company said. MacPhee will report to Executive Vice President (EVP) and Chief Investment Officer Scott Eisen.
Field division changes
With the company’s expansion of the current two field divisions to three field divisions comes several organizational adjustments:
Tim Lobner, EVP, Operations Support, will become EVP and head of field operations. He will be responsible for all three field divisions and will retain oversight of Rehabs, Turns & Maintenance (RTM). His extensive experience in operations provides an excellent background for him to continue to enhance the company’s operational abilities, customer service, and team development. Lobner will continue to report to Young.
Tracy Valenzuela will remain SVP, Field Division, for the West. She will report to Lobner. Invitation said it will begin a search for the two open field division leadership positions.
Aaron Stone, SVP, Rehabs, Turns & Maintenance, will remain national RTM lead and will expand responsibility to include procurement. He will report to Lobner.
Resident experience
The company is also adjusting its organization to continue its focus on providing an exceptional resident experience.
Phil Yi, SVP, marketing, will become SVP, head of marketing and resident experience. He will continue to lead Invitation’s marketing efforts and will add responsibility for value-add services as part of the full resident experience. Yi also will take on additional responsibility as the head of resident experience with a focus on enhancing the customer care experience. He will report to Young.
Paul Mauk, SVP, portfolio development, will continue to lead the company’s value-add services and will now report to Yi. Invitation said this change will provide a clearer line of sight between the development of value-add services and the resident experience.
Garret Van Parys, currently vice president, analytics & operations planning, will become SVP, enterprise analytics and revenue management. Invitation said that Van Parys has revolutionized the way its operations team uses analytics to drive improvements in the business, and in this new role he will expand that approach enterprise-wide in order to enhance financial performance and competitive positioning. He will report to Young.
An S&P 500 company, Invitation Homes is a leading U.S. single-family home leasing company, meeting changing lifestyle demands by providing access to high-quality, updated homes with valued features such as close proximity to jobs and access to good schools.
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