In a move that marks the culmination of years of strategic planning and growth, ZRS Management, one of the top 20 property management firms in the United States, has recently ushered in a new era with the appointment of Darren Pierce as its new CEO. Pierce steps into the shoes of Steve Buck, who led the company for an impressive 30-year tenure. Buck joined ZRS, then known as ZOM Residential Services, in 1994 as it managed only a handful of properties. Under his visionary leadership, the company transformed into a nationally recognized property management firm. By 2016, the company expanded its portfolio to more than 30,000 units. Buck will continue to offer his expertise to ZRS as a Board Member and Advisor, ensuring continuity and stability during this transition.
A Proven Track Record
Darren Pierce’s journey at ZRS Management began in 2016 when he joined the firm as Vice President. Since then, he has played a pivotal role in expanding the company’s assets and growth trajectory. Promoted to President in 2022, Pierce has been instrumental in tripling the company’s portfolio to over 90,000 units. This remarkable growth positioned ZRS as the 19th largest property manager in the United States, according to the National Multifamily Housing Council. Pierce credits this success to a stable and dynamic executive team developed under Buck’s leadership, which created an environment fostering associates’ growth and career advancement.
The executive leadership team further strengthened its ranks with the promotion of Jackie Impellitier to Chief Operating Officer earlier this year. Impellitier’s 25-year tenure with ZRS stands as a testament to the firm’s unwavering commitment to nurturing talent from within. This focus on internal growth and stability has been critical to ZRS’s sustained success, enabling the firm to deliver outstanding performance for its clients and investors. Under Pierce’s watch, the firm aims to build on these strengths, steering ZRS towards even greater achievements.
Navigating Market Challenges
As Pierce assumes his role as CEO, he is acutely aware of the significant shifts taking place in the multifamily market. The past year witnessed an unprecedented number of new deliveries, with 60 lease-ups in 2024—double the usual amount. This surge in supply reflects broader market trends and poses challenges that require strategic foresight and nimbleness. Pierce’s experience and leadership are crucial as ZRS positions itself to navigate these market dynamics effectively.
Looking ahead, Pierce anticipates increased transaction activity in the latter half of 2025 as the bid-ask spread narrows. This market condition presents opportunities for ZRS to help its clients identify and close new investment prospects. With a strategic focus, Pierce aims to leverage his team’s strengths and industry insights to guide clients through these evolving landscapes. His approach is not only about meeting immediate challenges but also setting the stage for long-term sustainable growth.
A Legacy of Growth and Innovation
Formed in 1991, ZRS Management stands as a third-party management company with a distinguished reputation for managing high-quality multifamily communities without direct ownership or development conflicts. Today, ZRS manages over 90,000 units for a diverse range of institutional clients, partnerships, and individual owners. This robust portfolio is a testament to the firm’s expertise and its ability to deliver value across various segments of the market.
The leadership transition at ZRS Management marks a new chapter in the company’s storied history. Building on a legacy of growth, stability, and employee development, Pierce is well-positioned to steer the company toward greater heights. Supported by a strong executive team, he faces the multifamily market shifts with a well-crafted strategy that aims to capitalize on upcoming opportunities and ensure continued success for clients and investors. The future appears promising for ZRS, with Pierce’s leadership offering a fresh and dynamic approach to navigating the multifamily real estate landscape.
Conclusion
In a significant development reflecting years of strategic growth, ZRS Management, recognized as one of the top 20 property management firms in the United States, has heralded a new chapter by appointing Darren Pierce as its new CEO. Pierce is succeeding Steve Buck, who has admirably led the company for an exceptional 30 years. Buck’s journey with ZRS began in 1994 when the company was known as ZOM Residential Services and managed just a few properties. Through his visionary leadership, ZRS evolved into a nationally acclaimed property management firm. By 2016, the company’s portfolio had expanded to over 30,000 units. Buck will remain actively involved with ZRS as a Board Member and Advisor, ensuring a smooth and stable transition during this leadership change. This move marks a pivotal moment for ZRS, setting the stage for continued growth and innovation in the property management industry.