US: Full-service residential hospitality company Sentral has announced that its board of directors has promoted Lisa Yeh to president, effective from today [1 August].
In her expanded role, Yeh will oversee Sentral’s day-to-day operations, in addition to her current responsibilities as chief operating officer [COO].
It comes after CEO Jon Slavet stepped down from his role to pursue other opportunities yesterday.
Yeh has served as Sentral’s COO for more than two years and brings over 20 years of multifamily experience to her role as president. As COO, she has been instrumental in delivering and optimising the company’s business model, driving a 20 per cent uplift in net operating income [NOI] for property owners.
Already in her career, Yeh has held senior roles with companies from across the multifamily landscape, including Essex Property Trust, AvalonBay Communities and CityView.
Yeh said: “I want to thank Jon for his significant contributions over the last three and a half years to the growth of Sentral and I am honoured to receive the baton from him. I look forward to leading Sentral into its next phase of growth and maximising value for owners, stakeholders and associates.”
Sentral is seeking to “redefine” homes for the modern renter by transforming upscale, multifamily properties into residential hospitality communities.
The new president will work in close partnership with the rest of Sentral’s leadership team, including chief development officer Roman Speron, to drive the company’s continued portfolio expansion. The company recently introduced Sentral at Inspire Hollywood and announced two new communities in the San Francisco Bay Area.
In February, Sentral completed the acquisition of Align Residential, a management firm specialising in innovative residential experiences. Offering vacation-style living through curated services and amenities, its communities feature artistically-driven events, private parks, membership clubs, theatres, restaurants and bars, gyms, wellness spas, resort-style pools, and concierge services.
Sentral now manages 35 residential communities across 18 US markets, representing more than 10,000 apartment units and a combined value of $5 billion. Headquartered in San Francisco and Denver, the company is backed by the likes of ICONIQ Capital, Highgate Hotels, Ascendant Capital Partners and the Bozzuto Group.