Rose Associates, Inc., the New York-based multifamily real estate developer and manager, is expanding its Institutional Real Estate Department and has recently added two executives to its leadership team. The company announced that Jay Schofield has been promoted to Managing Director of Institutional Real Estate and that Michael Garret has been promoted to Director of Institutional Real Estate.
“As our focus on institutional continues to grow, we realized the need to add talent, and I am thrilled to announce that Jay and Michael are joining the executive team,” said J. Brian Peters, COO of Rose Associates and leader of the company’s Institutional Real Estate Department. “Each of these individuals has contributed greatly to Rose Associates over the years, and together they’ll apply their expertise to advance resident satisfaction while increasing asset values.”
Schofield will focus on improving and updating physical components of assets under Rose’s management. Using proven data compiled and analyzed by Rose’s Property Management Group, he will direct apartment renovations and create and improve amenities to enhance the overall resident experience. Schofield joined Rose in 1995 and has been acting as Director of Institutional Real Estate. With a focus on the 30-building Mt. Sinai residential real estate portfolio and the three-building Sutton Terrace complex, Schofield has overseen everything from building operations, to capital improvements, finances, asset management, client relations and tenant relations. He first joined Rose as a property manager in 1995. A graduate of Columbia University, Schofield holds an MBA in real estate finance.
Garret joined Rose Associates in 2015 as Director of Multifamily. He has managed operations for a diverse portfolio of Rose- and third party-owned assets throughout the New York metro area. An expert in revenue generation and resident satisfaction, Garret is known for his deft handling of major capital improvements such as façade restorations and elevator modernizations. In his new role, Garret will focus on large capital projects, including an $8,000,000 façade repair, with a goal of increasing asset value. He will achieve operational excellence by applying tried and true multifamily processes and systems to institutional real estate. Garret attended Michigan State University and he holds an MBA from the University of Illinois.
