As the new Chief Operating Officer (COO) of Madison Apartment Group (Madison), Dean Holmes is responsible for the management and operations of the firm’s portfolio of nearly 19,000 apartment homes in 16 markets across the United States. This week, we caught up with Madison’s newest executive to get his thoughts on his new role, his vision for the future, and how he enjoys spending his free time.
Can you tell us a little about your role and responsibilities as the new COO of Madison Apartment Group?
As the new Chief Operating officer of Madison, my responsibilities are varied. Overall, I am responsible for ensuring that we are maximizing the performance and value of Madison’s real estate portfolio and the firm as a whole. However, the most pressing responsibility is to help create and sustain an environment that makes Madison and the Madison communities a great place to work and live.
What attracted to you to Madison Apartment Group?
The firm’s clear vision, incredible sense of entrepreneurial spirit and terrific culture were integral in my decision to join Madison. From the beginning, the entire team has been very welcoming to me and my family I am pleased and excited to be able to help carry the vision that our president Joe Mullen has for the firm
How does your previous experience help you in your new role?
Other than my military service, I have devoted my entire career to the multi-family industry. I have worked for both private and institutional owners in a variety of markets and economic conditions for the past 23 years. I enjoy being challenged and am very comfortable working in constantly evolving environments. I have learned that at the end of the day our industry is all about the people – our team members and our residents. If we work hard to take care of them, then most other things will fall in line.
What are your goals for Madison Apartment Group over the next year? Five years?
We are in the midst of an extraordinarily unique cycle in the multi-family industry. Apartment demand is at historical highs due to reduced home ownership rates and lack of new apartment supply. These conditions are creating a tremendous opportunity to drive the value of the portfolio through aggressive revenue growth. My top priority for the next year is to ensure that the entire organization is focused on driving revenue and that we are well positioned to capitalize on the current conditions. My goal for this year and every year will be to produce operating results that outperform our competitors in every market we are in.
Over the next five years, I intend to take an organization that is very good and make it even better. Working in partnership with our president Joe Mullen and the rest of the team, I plan to build Madison into a top tier multi-family platform, an organization that is widely regarded as an excellent place to work, live and invest.
Achieving this broad goal will require an intense focus in a number of areas. We have to ensure that our focus on customer service is second to none. We have to be relentless in hiring, retaining and developing only the very best people. Also, we have to ensure that our web presence and use of technology and performance monitoring and reporting is cutting edge. In addition, we have to make certain that we are deploying resources and capital in the areas that will drive the highest returns to our investors.
Are there resources or tips you would like Madison residents to know about?
Madison residents can get acquainted with our communities and their neighbors by visiting our various Facebook pages. They should also be aware that our website and their individual community website allows them 24/7 access to our service and management teams. We are available to assist them on their terms, when and where it is most convenient to them. Residents can also pay rent online as well as submit service requests any time. In addition, resident events are posted on the website as well as on Facebook.
As a long time Maryland resident, how are you enjoying Philadelphia so far?
Philadelphia is proving to be very enjoyable so far. In my spare time, I have been logging a lot of miles walking around the city sampling different restaurants and doing a little people watching. I really like the vibe and excitement of the city and am looking forward to learning more about it.
What do you enjoy doing outside of the office?
Despite the fact that I do so much business travel, I still enjoy traveling on a personal basis and visiting different cities. I like to read, play golf and pester our teenage daughters. We also have two Pugs (Ethel and Freddy) who are a constant source of entertainment. And oh yes, I enjoy a nice red wine and a good cigar now and then.
For more information about Dean, click here to see the company press release