The genesis of KMG Prestige began in 1991 when Keystone Property Management, Inc. was recognized as a legal corporate entity by the State of Michigan. The formation of Keystone Property Management, Inc. grew out of the collective desire of three individuals to directly control their own fate in their chosen profession of managing residential multifamily real estate.
The three individuals who owned the new organization, Ken Bovee, President, Joanne Golden, Vice President of Operations, and Robert Kabbe, Chief Financial Officer benefited greatly from having worked together in similar capacities for a number of years preceding the founding of the “start up” company- each having had the opportunity to assess and analyze his (or her) own talents and abilities and how they fit with those of his (or her) new partners. This familiarity and the mutual respect gained from this experience provided the foundation that was needed in order to weather the challenges inherent in establishing a new business.
The ensuing eight years produced rapid but healthy growth. Old systems and processes were revised and new ones established to meet the program requirements of the fast paced changes in the affordable housing industry and the needs of an ever-expanding client base. The organization gained traction as its work force displayed its character and propensity for working hard and striving to do the right thing. Keystone grew rapidly because its clients came to appreciate the value it added as the steward of their hard earned investments. Similarly its customers (residents) came to respect Keystone for the fair and evenhanded way it dealt with their needs and concerns.
Keystone’s portfolio grew an astonishing 400% from its start up in 1992 through the close of its fiscal year in 1999. But the biggest single growth spurt in its history occurred in the year 2000 with the acquisition of the assets of one of its largest competitors, the Lansing Management Company.
Paul Spencer, Jennifer Allen, Karen Mead, and Jeff Schaeffer purchased the management contracts from Keystone Property Management in January 2007 and KMG Prestige was born.
KMG Prestige with support centers in Mt. Pleasant, Lansing and Farmington Hills, Michigan manages a portfolio of 18,000+ multifamily dwelling units and continues to grow through refinements in technology, training and people development and through a renewed commitment to “Do the Right Thing”.