Leading property management firm Avenue5 Residential continues to build on its decade of growth with a key leadership appointment. With chief operations officer Steve Davis departing to pursue an opportunity with Investors Capital Group, executive vice president Jeff Krohn has been tapped to succeed him as COO.
“This shift comes at a pivotal time for Avenue5 and reflects both continuity and growth,” said CEO Walt Smith. “Steve has been instrumental in building the strong operational foundation that has fueled Avenue5’s success over the past decade, and we are deeply appreciative of his leadership, insight, and partnership. We are equally confident in Jeff’s proven expertise and deep understanding of our business as he takes on this expanded role.”
Davis and Krohn will work closely through the remainder of the year to ensure a seamless handoff and maintain the company’s standards for service and performance.
Krohn, who has been at Avenue5 for four years, brings more than 20 years of multifamily leadership experience to the role, including his work as founder and head of his own property management firm. As COO, he will continue to drive Avenue5’s performance initiatives across its expanding national footprint.
“I am honored to step into this role and build upon the strong foundation that Steve and our teams have established,” said Krohn. “Avenue5’s mission and momentum are unmatched in the industry, and I look forward to advancing our operational strategies and continuing to deliver outstanding results for our clients and residents.”
“This planned succession represents a thoughtful and positive progression for our organization, positioning us for continued success, exceptional portfolio performance, and service excellence for the decade ahead and beyond.”
Avenue5 manages 150,000 units across 22 states and Washington, D.C. This year, it ranked No. 8 on the National Multifamily Housing Council’s top 50 managers list.