The Promise Homes Company Expands Leadership Team

The Promise Homes Company, one of the largest minority-led managers of institutional-quality, single-family residential rental homes in the United States, announced today that it has expanded its leadership team with four new positions, all of which support the continued growth of the company as it executes on its mission to provide quality, affordable homes with free resident financial programming and amenities to benefit residents, investors, and communities.

Jake Keating has been named Head of Strategy & Investments and promoted to Senior Vice President. Mr. Keating joined Promise Homes in March 2022. In his new role, he will be responsible for strategic corporate development initiatives, sourcing and executing on investments, and capital markets activities for the company. Prior to Promise Homes, he served as a senior member of the Acquisitions & Capital Markets team at Front Yard Residential, where he focused on a variety of corporate development functions to expand and optimize the company’s affordable single-family rental portfolio.

Randall Mason joined Promise Homes earlier this year as Head of Operations and Property Management, an expanded role within the company’s leadership structure that is responsible for building and launching its internal Property Management team. Prior to Promise Homes, Mr. Mason was part of the senior management team at Front Yard Residential, where he oversaw both third-party and internal property managers, and was responsible for asset management, dispositions, due diligence, property taxes, HOAs and valuations. Mr. Mason has over 25 years of extensive experience in residential housing, including capital markets (particularly securitizations), REITs, mortgage origination, secondary markets, servicing, and credit.

Erick Wilson joined Promise Homes as Head of Finance in the fourth quarter of 2022. In this new position, Mr. Wilson is responsible for the oversight, leadership, and management of the company’s finances including corporate accounting, property accounting, financial reporting, and budgeting. Mr. Wilson brings nearly two decades of financial experience to Promise Homes, including as an assurance senior manager at Ernst & Young’s Real Estate, Hospitality and Construction practice, where he served publicly-traded REITs and private equity real estate funds investing in single-family, multifamily, office and retail assets. Before that, he was Chief Compliance Officer and Controller for a private equity firm as well as a Corporate Controller for a publicly-traded portfolio company.

Nylah Oliver joined the company earlier this year as Head of Resident Engagement & Social Impact. She is responsible for improving the residential experience by creating equitable access to affordable living as well as empowering the communities where Promise Homes invests. She also leads the company’s innovative Minority Vendor Program, which contracts with minority- and women-owned businesses for repair, turn, and maintenance jobs across its portfolio of homes. Prior to Promise Homes, Ms. Oliver managed social sustainability projects for Jones Lang LaSalle and worked as a Corporate Social Responsibility & Communications Fellow at UPS for its Social Impact department and The UPS Foundation.

“Our expanded leadership team is part of our strategic plan to grow The Promise Homes Company into both a leading manager of affordable single-family residential rental homes in the U.S. and one that offers a differentiated model of resident and community financial empowerment. We are thrilled with the progress that Jake, Randall, Erick, and Nylah have already made in leading our efforts in our next phase of growth,” said John Hope Bryant, Founder and Chairman of The Promise Homes Company.

The Promise Homes Company is today comprised of a portfolio of approximately 640 homes in Georgia and Florida. The company’s model of resident empowerment provides its residents with free financial literacy education and credit counseling through its partnership with Operation HOPE as well as unique financial incentive offerings to help residents pay rent, build credit and obtain mortgage commitments to transition from renters to homeowners. All Promise Homes residents who have enrolled in financial or credit counseling through Operation HOPE have improved their credit scores within 90 days of beginning the program, and as a result, they are receiving rent credits through Promise Homes’ incentive program. Additionally, Promise Homes is committed to ensuring that 50% of its repair, turn, and maintenance jobs will be performed by local, minority- and women-owned businesses through its landmark Minority Vendor Program, which has been in place for five years.

About The Promise Homes Company

Launched in May 2017, The Promise Homes Company is one of the largest minority-led managers of institutional-quality, single-family residential rental property in the United States, with a focus on working class and middle-class communities. Promise Homes offers its residents quality housing at affordable prices as well as financial empowerment and assistance that would position them financially to eventually own a home. Promise Homes also contracts with local, minority-owned businesses for property maintenance services, thereby creating local, sustainable jobs in the communities where it invests. Promise Homes was founded by John Hope Bryant, an entrepreneur, author, philanthropist, and prominent thought leader on financial inclusion, economic empowerment and financial dignity. For more information, please visit http://www.thepromisehomescompany.com.

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