Virginia Beach, Va. – The Franklin Johnston Group (TFJG), a Virginia Beach-based multifamily development and property management firm, has promoted Portfolio Manager, Shaun Gibbs to the position of Vice President of Property Operations for the Group’s Southeast Region.
Shaun joined The Franklin Johnston Group as Portfolio Manager in the summer of 2018. Almost immediately, he started working very closely with AIG (the owner) and an outstanding site team at Cypress Grove (814 units, LIHTC, Lauderhill, FL) to orchestrate one of the most remarkable turnarounds in TFJG’s history. TFJG was retained by AIG last summer to help stabilize Cypress Grove for a potential disposition. This community represents the largest single asset investment in AIG’s extensive multifamily portfolio. At the point of takeover, the property was approximately 86% occupied. Today, the property is 98% leased and it wouldn’t have been possible without Shaun’s leadership and the hard work of the motivated site team. The owner has commented several times that they are simply amazed at magnitude and speed of the improvement in site appearance and property operations.
In addition to his central role at Cypress Grove, Shaun also directed the efficient transition and effective stabilization of three MRK communities in South Florida: Emerald Palms (318 units), Phoenix (164 units), and Praxis at Deerfield Beach (224 units).
Chris McKee, President of Operations, stated: “Shaun’s effectiveness as a leader, and his ability to earn the trust and confidence of owners, has been instrumental in helping the growth of TFJG. While he is still in his first year with the company, Shaun has already demonstrated tremendous focus, dedication, and leadership while also displaying a strong commitment to TFJG’s core values.” In this new role as Vice President – Property Operations, Shaun will initially have responsibility for 28 properties totaling 4,449 units in the Southeast Region.
About The Franklin Johnston Group
Franklin Johnston Group owns and manages more than 16,000 units and 97 properties throughout the Eastern U.S. The FJG portfolio is composed of its own properties as well as those owned in partnership with various individual and institutional investors. The company develops new properties and acquires and rehabilitates existing communities. FJG is headquartered in Virginia Beach, VA and employs more than 400 people throughout the mid-Atlantic and Southeast.