Sherwin-Williams Forms Supply Agreement With Riverstone Residential Group for Multifamily Properties
Agreement teams up industry-leading multifamily management provider and supplier
Mar 21, 2012, 08:00 ET
CLEVELAND, March 21, 2012 /PRNewswire/ -- Sherwin-Williams, a single-source supplier of coatings, flooring and related products to the multifamily housing market, and Riverstone Residential Group, a national, privately-owned, third-party multifamily management provider, have formed a multi-year supply partnership. Under the agreement, Riverstone's extensive portfolio of properties will directly source and consolidate orders for paints and flooring from Sherwin-Williams. The new agreement lists Sherwin-Williams as Riverstone's exclusive marketing partner for paint and one of Riverstone's preferred marketing partners for flooring between 2012 and 2014.
The agreement pairs a prominent multifamily supplier with one of the largest suppliers of apartments for rent in the United States. Sherwin-Williams is North America's largest single-source supplier of high-quality paints, stains, masonry coatings and brand-name wall and floor coverings, with a distribution system of more than 3,400 stores, 120 floorcovering centers and 1,700 field representatives available to deliver innovative products, local service and expert advice. With more than 170,000 apartments under management, and a combined asset value of $15 billion, Dallas-based Riverstone holds an extensive portfolio featuring conventional, affordable, student housing, military housing, senior housing and lease-up communities.
"At Riverstone, fostering partnerships with high-caliber suppliers helps us to create premier living experiences for our residents while increasing asset value and performance for our clients," declared Gardner Rees, Riverstone's Executive Vice President of Ancillary services. "Our partnership with Sherwin-Williams demonstrates our commitment to enhancing residents' lifestyles and strengthening client satisfaction."
"Sherwin-Williams has the tools and resources to help multifamily property managers like Riverstone keep their locations looking beautiful and assure consistency of products, colors, pricing and procedures nationwide," said Bill Rafie, National Senior Director of Property Maintenance for Sherwin-Williams. "Our products, services, stores and distribution channels are ideally suited to Riverstone's vast property management portfolio."
Sherwin-Williams national account partnerships are designed to help multifamily management companies and group purchasing organizations maximize efficiencies and achieve higher net operating income. Long-term agreements can help standardize purchases and stabilize costs. At the same time, Sherwin-Williams can create product specifications, customize on-site training and simplify supplier transitions.
For 146 years, Sherwin-Williams has satisfied the coating and color needs of builders, designers, specifiers, property managers and contractors. Sherwin-Williams provides fast, flexible, responsive local service and personalized, expert advice. More than 3,400 stores and 1,700 sales representatives make Sherwin-Williams North America's largest single-source supplier of high-quality paints, stains, masonry coatings and brand-name wall and floor coverings. Visit sherwin-williams.com. For green solutions, visit swgreenspecs.com.
About Riverstone Residential Group
Riverstone Residential Group, one of the largest third-party multifamily apartment management companies in the United States, is focused exclusively on the delivery of unparalleled property management, as well as, resident and ancillary services. Riverstone's core service groups include accounting, affordable housing, compliance and property audits, information technology, risk management, human resources, marketing and education, purchasing, and regional maintenance. Ancillary service groups include utility management services, resident screening and receivables management services, client and resident insurance, telecom services, and financial advisory services. The company manages a portfolio of multifamily assets valued at more than $15 billion for leading institutions, pension funds, developers and other major owners. Located in metropolitan markets across the nation, Riverstone's more than 700 managed apartment properties include high-rise, mid-rise, and garden-style communities in conventional, affordable and receivership assets. The company is headquartered in Dallas, TX. For additional information, visit www.RiverstoneRes.com or e-mail [email protected].
Carmichael Lynch Spong
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