The multifamily real estate sector in the United States has experienced remarkable growth in recent years, cementing its position as a vital component of the commercial property market. While the dream of owning a single-family home remains deeply ingrained in American culture, the reality of soaring house prices and dramatically increased mortgage interest rates has forced many would-be homeowners to reconsider their options. As a result, renting a multifamily unit has become an increasingly attractive alternative to purchasing a single-family house.
The construction of multifamily units has therefore been rising, underpinned by the growing demand and rental prices, with multifamily investments accounting for over one-third of all commercial real estate transactions in 2024, surpassing all other property types.
Since it was founded in 2012, Mission Rock Residential has swiftly established itself as a key player in the multifamily property management sector. With a mission to provide quality apartment homes and delivering exceptional service, Mission Rock leverages cutting-edge technology to enhance both resident and team member experiences.
At the helm of Mission Rock’s technological transformation is Kevin Vertrees, Executive Vice President of Information Technology. Having joined the company in April 2024, he brings nearly three decades of real estate industry experience to the role.
“For 20 years I worked for a large public company based in Cleveland, Ohio, as the Enterprise Architect and Chief Information Officer for the New York business unit,” he says. “I then spent seven years as a Lead Managing Consultant with RealFoundations, helping numerous real estate companies execute their technology strategy and aligning the real estate strategy to the people, processes and technology investments need to achieve the company’s objectives.”
Working alongside Kevin is Marcella Eppsteiner, Chief Experience Officer at Mission Rock. Her journey in the industry spans over two decades, starting from on-site roles and progressing through marketing before joining Mission Rock at its formation in 2012.
“I've been in the industry for over 20 years,” she shares. “I started on-site at the property level as a leasing consultant and then property manager before shifting into marketing and corporate support roles. I started in the Florida market, including Miami, and then relocated to Denver, Colorado, for the formation of Mission Rock.”
Together, Kevin and Marcella form a powerful team, combining deep technological expertise with a nuanced understanding of the resident experience. Their complementary backgrounds allow Mission Rock to approach technological innovation from multiple angles, ensuring that new solutions not only improve operational efficiency but also enhance the living experience for residents.
Kevin’s approach to technology implementation is both strategic and measured. “We're starting with innovative pilot groups where we have people from different teams exploring tools and working together as a working group to identify the use cases that will truly add value,” he explains.
Marcella, on the other hand, brings a resident-centric perspective to the technological transformation. “In multifamily, we're in the business of providing homes,” she emphasises. “We have to be the voice of the customer, the voice of our residents, and find the balance between using technology to better serve our residents while understanding that seeking a home is a human experience.”
This balanced approach, which Kevin refers to as “the art of the possible”, forms the north star of Mission Rock’s technology strategy. It’s a strategy that recognises the power of technology to transform operations, while never losing sight of the fundamentally human nature of the multifamily housing business.
As Mission Rock continues to navigate challenges and opportunities, the combined expertise of Kevin and Marcella helps position the company well for future success.
“At the end of the day, this is a customer service business,” Kevin says. “We're providing physical homes where people are experiencing their lives and raising their families. Almost every aspect of their experience - the leasing process, maintaining the physical asset, collecting rent payments – has some sort of technology involved. But it’s all in service of that resident experience and ensuring they have a safe, comfortable place to call home. That’s what drives our technological innovation forward.”
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