Strong & Sensible 

Less than one week into his first job as a Resident Manager, a large fire destroyed several apartments on Mike Gorman’s Indianapolis property, including his own. Recruited directly from Butler University at the age of 22, Gorman says he was confident he had a strong business and finance background, but the unexpected emergency taught him he had a lot of things to learn about the apartment industry that aren’t necessarily covered in the classroom.
 
“I had been in leadership positions in school and in my fraternity, but it was different in a professional business environment,” Gorman says, recollecting his stressful introduction to the real world. “I had to learn how to adapt to different situations, such as a sudden fire, and effectively lead a group of people.”

Twenty-eight years later, Gorman, CAPS, CPM, CCIM, has become a respected NAA member, known for his composed and thoughtful approach to business situations. As NAA’s 2011 Chairman of the Board, he intends to lead the association to grow membership, build a larger talent base for the industry, and aggressively pursue legislative opportunities.

As President of Rose Property Group LLC, a division of Edward Rose Building Enterprise, Gorman has loyally served the privately held company his entire career. Instilled with a passion for business from his father, the retired president of a large St. Louis financial institution, Gorman rose from the ranks and has been involved in almost every aspect of the company.

After drawing upon his financial background to revamp the Indiana Apartment Association (IAA)’s budget, Gorman also became deeply involved in the NAA, and has served as its Treasurer and Secretary.
Chairman of the Board will be one of Gorman’s biggest volunteer roles—a position his colleagues say he’ll fill with ease. “Mike did an incredible job on the Government Affairs Task Force, and he will have a terrific year as Chairman,” says Ron Shelton, CAPS, NAA 2009 Chairman of the Board and Senior Vice President of Operations for Amalgamated Management Corp., Dallas. “Mike is honest, fair and even-handed, and he brings a wealth of experience to the association. He has a passion for the industry and will direct NAA using his experience and strong leadership skills.”

Indiana Influencer

Gorman has been a vocal leader in the apartment industry since the early 1990s. A member of NAA since 1983, Gorman first demonstrated his leadership potential when he was elected to IAA’s Board of Directors in 1995. The following year, Gorman became a member of the IAA Executive and Finance Committee.

Lynne Sullivan, CAE, Executive Director of the IAA, met Gorman 15 years ago and says she was immediately impressed with his leadership skills. “IAA was in need of financial restructuring and Mike was asked to develop a five-year financial plan,” she says. “He did a fantastic job putting a very comprehensive plan together that has now led to IAA’s strong financial footing. Some of us still refer to it as ‘The Gorman Plan.’ ”

Gorman’s financial prowess caught everyone’s attention in the IAA, and led to his election as Treasurer—a position he held in 1997 and 1998. He served as Vice President in 1999 and 2000 and President the following two years. Among his many accomplishments as IAA President, Gorman was actively involved in the fight for property tax reform, culminating in a tax cap that has saved millions in annual property taxes, Gorman says.

After meeting Gorman in the early 1990s, Alexandra Jackiw, CAPS, CPM, President of Buckingham Management, Indianapolis, says she watched him make a real mark in Indiana. “My first impression of Mike was that he was intelligent, measured, even-tempered and quiet—but forceful in expressing his views,” Jackiw says. “He’s a keen listener and observer of the dynamics in a meeting. He has a great ability to process information and help participants arrive at a consensus.”
Jackiw isn’t the only one who thought so. In 2001, Gorman was appointed to NAA’s Budget and Finance Committee, where he served for seven years. He began to take an even more active role in NAA in 2005, when he was elected as Regional Vice President and the Chairperson of the State and Local Policy Committee. Positions as the NAA Secretary and Chairperson of the Legislative and Futures Task Force Committees soon followed.

During Gorman’s year as Treasurer, he continued to make significant contributions to NAA. “Mike was instrumental in putting policies and procedures in place to help ensure the financial stability of NAA,” Jackiw says. “He was an excellent steward of the organization’s finances and passed down a legacy of strong oversight to the Budget and Finance Committee.”

Gorman says his involvement with IAA and NAA has afforded him the opportunity to network, become more knowledgeable on the legislative front, and discuss operational issues and philosophy with his colleagues. Despite all he has gained from both associations, Gorman is most passionate about serving NAA’s members.

“At the end of the day, we’re here to advocate, educate and communicate,” Gorman says.

Business Background

Born and raised in Kirkwood, Mo., a suburb of St. Louis, Gorman is the oldest of five. His mother, Dorothy, was a stay-at-home mom for 18 years before returning to teach seventh- and eighth-grade English when Gorman left for college. She instilled in him a love of education. Gorman’s passion for business came from the male role models in his life; his father, Michael, and his grandfather, Edward Niemeyer, who was a stock and bond dealer.

As a child, Gorman says he was fascinated with the development business, and tagged along with his dad to zoning meetings and development sites. He was particularly attracted to the entrepreneurial and development side of business, and moved to Indiana in 1978 to pursue a degree in business at Butler University. An advocate of life-long learning, Gorman returned to Butler University and earned his MBA in 1998.

In 1982, Gorman was recruited directly out of college as a Resident Manager at Scarborough Lake Apartments in Indianapolis. The community was owned by Edward Rose Building Enterprise, a third-generation, privately held company headquartered in Farmington Hills, Mich.

“I wasn’t intimidated, but it was a stressful time because I had a lot to learn and I wanted to perform at a very high level,” Gorman says. “Overseeing a multi-million-dollar asset is a big responsibility.”

Don Williams, Past President of IAA and Region III Vice President, was Gorman’s predecessor and quickly took him under his wing. Gorman says Williams, who passed away 10 years ago, taught him the business and encouraged him to get involved with IAA and NAA.

Thanks in large part to Williams’ tutelage, Gorman is still with Edward Rose, and he says he can’t imagine doing anything else. “I love that I can utilize so many different disciplines in this field,” Gorman says.
“And it’s fulfilling to take an undeveloped site and create a community. Having the vision, developing a business plan, taking it through the entitlement process, and then constructing and opening the community is exhilarating.”

Teaching His Talent

In nearly three decades with Edward Rose, Gorman has done just about everything from property management to land acquisition and development. He has spent the past 10 years as the head of the Indianapolis office, one of four divisions in the company.

Gorman spends most of his time overseeing day-to-day management and development activities for the company’s Missouri, Virginia, North Carolina, Ohio and Indiana properties. Although he is tied to his office more than he would like, Gorman says he visits at least one of the company’s communities and construction sites each week.

Known by colleagues for his composed, sensible demeanor, Gorman’s personality mirrors that of his company. Founded in 1921 by Edward Rose, the company has always had a conservative approach to business. Gorman says current CEO Warren Rose has a great intellect and attention to detail, which has helped the company successfully navigate through difficult economic conditions. “We have a long-term investment horizon and build communities with an attention to detail that supports the investment objective,” Gorman says. “We’re in a unique position to take advantage of new opportunities.”

John Houchin, Director of Construction for Edward Rose’s Indiana division, has worked with Gorman for 21 years and says he has a tremendous amount of respect for his managerial style. “Mike is the consummate business man and incredibly knowledgeable about the apartment industry,” Houchin says. “He gives me and my team the latitude to effectively execute the business plan and is great at delegating. Mike surrounds himself with highly capable people.”

Gorman says he hires employees who are versatile, adaptable to change and eager to consistently improve. Gorman’s Asset Manager, Jordanna Paciorek, CPM, CCIM, is a prime example. After working for Edward Rose as a leasing consultant during college, Paciorek accepted a finance position at an insurance company before returning to Edward Rose. Gorman says he hired Paciorek for her financial acumen, but wanted her strong marketing and entrepreneurial instincts to develop.
She was initially hired within the corporate housing division before ultimately transferring to the finance department. Gorman also encouraged Paciorek to earn her MBA in finance, a goal she accomplished.

“Many of my employees have migrated into areas that are a great departure from the role they entered in the company,” Gorman says. “We have a culture that encourages intellectual curiosity.”

Continued education remains a top priority for Gorman, who stresses the importance of frequent training from an employee’s first day. As President of the Ball State Residential Property Management Advisory Board from 2005 to 2007, Gorman was instrumental in encouraging college students to consider a career in the multifamily housing industry. Gorman is proud to say he has hired some of the program’s finest graduates.

Hard work and consistent improvement are expected of all employees, but Paciorek says they manage to have a lot of fun, too. “Contrary to what one might think after reviewing his long list of accomplishments, Mike is actually a relatively laid back person with a great sense of humor,” Paciorek says. “We have a great office camaraderie built upon a lot of inside jokes—and a love of food. We keep the candy jars full—the accounting department always stocks up on PayDays for Mike—and we use practically any excuse to share homemade snacks.”

Happy at Home

Gorman loves his day job, but says his family is the real thrill of his life. He and wife Linda met at Butler University when Gorman was a junior. His younger sister, Jayne, shared a sorority house with Linda and introduced the two. “I was a freshman when I met Mike—I didn’t even make it through new-student orientation,” jokes Linda Gorman, who is now an interior decorator.

The couple dated for five years before marrying. They celebrated their 25th wedding anniversary in April. Gorman is most proud of their three “bright, articulate and enthusiastic” children.

Matthew, 23, graduated from Indiana University’s Kelley School of Business in May and works as an Investment Banking Analyst at Barclays Capital in New York City. Kate, 21, is a junior at Indiana University, double-majoring in business and interior design. Their youngest, Kristen, is a 15-year-old high school sophomore.

Despite working very long days, making time for his wife and children has always been a priority. “One blessing is that when I leave work, I leave work,” Gorman says. “When I’m at home, I’m in family mode and I’m able to silo that.”

Off the clock, Gorman follows the financial markets and roots for the St. Louis Cardinals and St. Louis Blues, two of his favorite hometown teams. Nothing matches his enthusiasm for Butler basketball, though.

“I’m still fretting over that missed last-second shot for the 2010 NCAA Championship,” he says, recalling Butler’s heartbreaking loss to Duke. “My entire family is passionate about the team. My children have been attending games since they were infants.”

Gorman has also groomed his employees into loyal fans. “Our office was never as energized as it was last spring during the NCAA tournament,” Paciorek says. “Everyone got caught up in the excitement.”

A Bulldog through and through, Gorman has served on Butler University’s College of Business Board of Visitors. Linda is on the Alumni Board.

At 50, Gorman has spent his entire life in the Midwest—and his entire career at Edward Rose—and says he’s perfectly content with life in Indiana. “I absolutely love what I do; I enjoy it as much as I would any hobby,” Gorman says. “Don’t mess with happy, right?”

Promising Future

As the 2011 Chairman of the Board, Gorman says his biggest challenge will be identifying and setting priorities on the joint legislative and regulatory front, which he knows will require a much more aggressive and proactive approach with legislative efforts.

“Many of the initiatives proposed in the 2009 Government Affairs Task Force report were implemented in 2010, but I’m going to make sure everything continues to be executed according to plan,” Gorman says.
“That includes re-invigorating our grassroots and Political Action Committee (PAC) programs, improving communication between NAA and affiliates, and hiring additional staff to respond to the needs of our affiliates regarding state and local issues. We’re going to follow through with what we promised.”

Sullivan is confident Gorman will make good on such promises. “Our industry is facing increased government regulations during these very difficult economic times, and I feel Mike’s financial expertise and political astuteness will provide the necessary leadership skills to take NAA to the next level,” she says.

On the education front, Gorman says he will support NAA Education Institute’s ongoing efforts to obtain American National Standards Institute (ANSI) accreditation for its National Apartment Leasing Professional (NALP), Certified Apartment Management (CAM) and Certified Apartment Portfolio Supervisor (CAPS) programs, which he says will help open doors at the community college and university level. “Not enough people know about our industry,” he says. “One of my goals is to make graduates more aware.”

During his year as Chairman, Gorman says he will also look for opportunities to increase NAA’s audience and support the Strategic Growth Plan developed by the 2010 NAA Membership Committee, which aims to provide funding for eligible affiliates with low membership penetration rates.

Despite challenging economic times and increasingly complicated legislative issues, Gorman says the future of the apartment industry—and the NAA—is bright.

“There are tremendous opportunities ahead,” he says. “The apartment industry is the strongest of the commercial real estate sectors. We have the demographics in our favor with the echo boom, and I suspect an awful lot of people are going to delay homeownership until it makes solid personal and financial sense. We’re not going to see the rush to buy a home that we have in the past.

“As for the NAA, our resources are growing greatly, we’re strengthening our relationship with National Multi Housing Council (NMHC), improving the flow of information to members, and improving our communication and assistance to affiliates.”

Lauren Boston is NAA’s Staff Writer. She can be reached at lauren@naahq.org  or 703/797-0678.

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Mike Gorman

Career Snapshot

President
Rose Property Group, LLC
Indianapolis

 Mike Gorman, CAPS, CPM, CCIM, has worked in the multifamily housing industry for the past 28 years. He began his career as a Resident Manager for Edward Rose Building Enterprise, a third-
generation, privately held company with properties in 11 Midwest and Mid-Atlantic states. 

Gorman worked his way up the company ladder to become a Regional Property Manager, Director of Property Management, Analyst and Development Associate. In 2000, he was named President of Rose Property Group LLC, a division of Edward Rose Building Enterprise, a position he still holds. 

Prior to being elected Chairman-Elect of NAA, Gorman served as NAA’s Vice Chairman, Treasurer, Secretary, Regional Vice President, and a member of the Budget and Finance Committee. He served as
Chairperson of the 2006 Legislative Committee and as the 2006 and 2007 Chairman of the Futures Task Force. He was also the Chairperson of the 2005 State and Local Policy Committee.

Gorman is a Past President of the Indiana Apartment Association (IAA), and still serves as a member of the Board of Directors and Executive and Finance Committee. He also served as Vice President and Treasurer of the IAA.

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