Quarterra Announces Promotions of Cassidy, Johnson and Reisinger to Regional Presidents

Rhea-AI Summary

Quarterra Multifamily, a subsidiary of Lennar Corporation (NYSE: LEN, LEN.B), has announced the promotions of Chris Cassidy, Scott Johnson, and Brad Reisinger to regional presidents overseeing newly established regions: East, Central, and West, respectively. Cassidy will manage 18,226 homes in the East, Johnson will oversee 13,947 homes in the Central region, and Reisinger will lead 15,880 homes in the West. The company operates a diverse portfolio with a $19.8 billion pipeline, consisting of 48,000 homes in various stages of development.

Positive

• Promotion of experienced leadership with a proven track record in their respective divisions.
• Strategic organizational restructuring to enhance scalability and support growth projections.
• A robust portfolio with a diverse range of properties and a substantial development pipeline valued at $19.8 billion.

Negative

• None.

Previous division presidents to oversee newly created East, Central and West regions

CHARLOTTE, N.C., Sept. 20, 2022 /PRNewswire/ -- Quarterra Multifamily (QMF), a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer, and asset manager, announced the promotions of three division presidents to regional presidents. Chris Cassidy, Scott Johnson and Brad Reisinger will oversee Quarterra's newly created East, Central and West regions, respectively.

Cassidy will lead the East Region, consisting of 18,226 homes in the Southeast, Carolinas, DC Metro, Boston Metro and New York Metro divisions. Cassidy served as division president for 11 years over Tennessee, Georgia, Alabama and Florida.

Johnson will oversee the Central Region, made up of 13,947 homes in the Mountain Southwest, Texas and Central divisions. Johnson spent nearly 10 years as division president over the Mountain States and Southwest.

The West Region, led by Reisinger, includes 15,880 homes in the Pacific Northwest, Northern California and Reno, and the Southern California and Las Vegas divisions. Reisinger previously served as Quarterra division president in the Pacific Northwest for nearly 11 years.

"We selected Chris, Scott and Brad for these roles based on their professional experience, tenure with the company and the performance they have demonstrated in leading the top three consistently ranked divisions in the country," said Ed Easley, Quarterra President of Development and Construction. "As we grow and evolve at Quarterra, we will continually evaluate our organizational structure to support our growth projections, enable scalability and set up our teams for success. As our next step in that endeavor, we're pleased to announce the advancement of these three deserving individuals."

Quarterra Multifamily operates a diverse portfolio of institutional quality multifamily rental communities across the United States. The company has a 48,000-home pipeline of communities, ranging from operating to under pre-development, that exceeds $19.8 billion of high-rise, mid-rise and garden apartments.

About Quarterra Multifamily

Quarterra Group, Inc., a wholly-owned subsidiary of Lennar Corporation (NYSE:LEN and LEN.B), is a multi-strategy, real estate focused, alternative asset management company comprised of two rapidly growing verticals: Multifamily and Single-Family Rental.  Launched in 2011, Quarterra Multifamily, previously known as LMC, is among the nation's most active developers, builders, and managers and has been on the National Multi-Housing Council's (NMHC) annual Top 50 list for eight consecutive years. Quarterra Single-Family Rental launched in 2020 to provide individuals, couples, and families who prefer to rent over home ownership the opportunity to live in exceptional neighborhoods with great amenities. It is anticipated that Quarterra will spin-off from Lennar and become an independent, NYSE listed, Alternative Asset Manager later this year under ticker symbol "Q".  For additional information, please visit Quarterra.com.

Quarterra creates extraordinary communities where people can live remarkably.

Media Contact 
Marlena DeFalco 
LinnellTaylor Marketing
303-682-3943 
marlena@linnelltaylor.com

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SOURCE Quarterra

FAQ

What recent promotions occurred at Quarterra Multifamily?

Quarterra Multifamily has promoted Chris Cassidy, Scott Johnson, and Brad Reisinger to regional presidents over the East, Central, and West regions, respectively.

How many homes are included in the East, Central, and West regions managed by Quarterra?

The East region includes 18,226 homes, the Central region has 13,947 homes, and the West region encompasses 15,880 homes.

What is the significance of Quarterra's organizational restructuring?

The restructuring aims to bolster scalability and support growth projections, enhancing the company's operational efficiency.

What is Quarterra Multifamily's development pipeline size?

Quarterra Multifamily has a pipeline of 48,000 homes, representing a total value of over $19.8 billion.