American Housing Income Trust, a real estate investment trust that operates single-family rental homes in Arizona, Nevada and Texas, announced the company will now have new leadership as the REIT looks to expand its business.
American Housing Income Trust announced Monday that the REIT’s board named one of its current members, James Stevens, to serve as the company’s new chief executive officer.
Stevens replaces Jeff Howard, who resigned to “pursue other opportunities,” according to the company.
“On behalf of the board, I would like to thank Jeff for his leadership and commitment in helping us build American Housing Income Trust,” Sean Zarinegar, chairman of American Housing Income Trust’s board said. “We wish him the very best in his future endeavors.”
Zarinegar said due to the “rapid and continued growth” of the company’s portfolio, coupled with the “expected roll-out of a new proprietary property management system,” the company felt it was the “right time” for a leadership change.
“The board is confident that AHIT's executive management team of committed and experienced professionals possess the knowledge and expertise to deliver strong stockholder value by executing on a distinctive plan to grow our portfolio,” Zarinegar added.
According to information provided by the company, Stevens brings more than 30 years in real estate to his new position. Earlier in his career, Stevens held several positions as a real estate broker, certified property manager, and builder.
“I appreciate both Sean and the board's support and their vote of confidence by electing me as chief executive officer,” Stevens said.
“I am excited about the road ahead. Our vision and strategy for AHIT and its potential remain unchanged,” Stevens continued.
“We expect to leverage a robust network of brokers, builders, and developers to capitalize on a strong acquisition pipeline of quality single-family homes and continue to build our portfolio,” Stevens concluded. “I look forward to working with our talented employees to lead AHIT into the next phase of development."