AUSTIN, TX - PRIME Multifamily Investors today announced the appointment of Lori Butler to the role of Vice President of Student Housing for the company. Lori will direct and manage the company’s rapidly growing student focused assets as well as implement proven strategies and practices that will help the company operate the properties more efficiently. Lori has officially assumed her new role at PRIME and will report to Walker Molinare and Aubrey Brisendine, PRIME’s co-Founders.
An industry veteran and highly talented individual, Lori brings over five years of experience overseeing large, institutional grade student properties for leading corporations. Most recently, Butler served as Area Manager of American Campus Communities, where she oversaw four properties equating to 684 units/2,068 beds at any given time. During her time at ACC, Butler was responsible for the entire outcome and operations of her portfolio as well as she supervised, trained, and directly managed a staff of 25, ensured targeted revenue rates were met, maintained appropriate expenses, and served as an ACC liaison in all interactions for her portfolio. Before joining ACC, Butler began her career as an assistant property manager with Campus Advantage.
“Our student focused properties and ongoing operations play a critical role in the success of our business. How we distinguish our properties to our prospective tenants in each marketplace is going to be through our exceptional onsite staff, cutting edge technologies, and unique amenities. Lori is going to be vital to our success of that vision” Molinare said. “We will leverage Lori’s experience in running multiple properties at once while focusing on three key areas for our student model. First, we intend on operating a first-class student housing and management platform. By leveraging Lori’s track record and knowledge of operational excellence, she will instantly help each of our student-focused investments achieve the highest level of value. Second, Lori will be vital in training our onsite management teams so that each of our investments is operating at its peak potential. Lastly, Lori and the student management team will drive new and proven processes throughout our portfolio in order to not only provide exceptional service to our tenants but ensure that the company consistently achieves its investment goals” said Brisendine.
“More than any other company, PRIME knows the critical role that management plays to the success of their investments and collectively we plan to leverage our management team for a strategic business advantage. I look forward to building on the success of PRIME in my new role,” Butler said. “So few places offer the chance to truly expand your skills and in this roll I will have the ability to have a direct impact across a broad range of properties. It is a great opportunity, and I am excited to work with Aubrey and Walker to help PRIME advance its business forward.”
Founded in 2013, PRIME Multifamily specializes in identifying and acquiring underperforming multifamily investments located across Texas. In addition to identifying these strategic investment opportunities, PRIME has a unique ability to add value to each of their properties through repositioning, renovation and operational effectiveness thanks to their vertically integrated management platform. PRIME currently owns and manages several multifamily communities located across Texas and is under contract to purchase three more assets.