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Major Atlanta Multifamily Player Names New CEO

Steven Shores Takes Reins of Pollack Shores
January 24, 2018
Pictured: Steven Shores (left) to succeed Marc Pollack as CEO of Pollack Shores Real Estate Group.

Steven Shores, who founded Pollack Shores Real Estate Group in 2006 with Marc Pollack, has replaced Pollack as CEO. Pollack will remain chairman of the multifamily investment firm.

"This is a long-planned transition for our company," Pollack said. "Positioning Steven at the helm as CEO, with his focused approach and steadfast leadership, will ensure continued success for our firm."

Shores, who holds an MBA from Columbia University, is known for his financial acumen and intense style. Prior to co-founding Pollack Shores, he served as a key executive at Urban Realty Partners, the Atlanta-based developer of The Brookwood, The Reynolds and The George.

When Pollack and Shores started the firm in 2006, they set out to be a top-notch multifamily investing and operating company, Shores said. Since then the company has developed 13 communities in metro Atlanta and acquired six. The firm employs 691 people companywide.

All told, Pollack Shores currently owns $1.6 billion in total assets and manages a portfolio of 26,000 units. The firm also launched Matrix Residential, its property management subsidiary.

"We achieved our initial goals and have now set new ones," Shores said. "Building off our successful track record, we plan to expand into new markets in the Southwestern U.S. - a process that began last year. Further, we are building strategies and teams around several new product line ventures within multifamily housing."

In 2017 alone, Pollack Shores invested $550 million in acquisitions and new developments, and sold $328 million in assets. Some notable sales last year included The Local on 14th and Millworks in Atlanta, and Havana Square in Tampa, FL. On the flipside, Pollack Shores acquired Menlo Creek in Duluth, Georgia, and The Retreat at St. Johns in Jacksonville, FL.

Tony Wilbert, Atlanta Market Reporter  CoStar Group   
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