Riverstone Residential Promotes Pål Ottesen to CFO
Riverstone Residential Group, a large US third-party multifamily apartment management company, has promoted Pål Ottesen to chief financial officer (CFO). Ottesen, who is highly regarded within Riverstone as well as the real estate industry as a whole, has been serving as the company’s interim CFO. He will combine this new post with his existing role as the company’s chief administrative officer, and will continue to assume responsibility for accounting, investor relations, and treasury functions across all Riverstone Residential Group and CAS Partners business lines and subsidiaries.
Ottesen began his real estate career in 1991 with HSC Real Estate. During his tenure with HSC, Ottesen gained experience in all aspects of property management and later became a principal. Ottesen’s last eight years at HSC saw him assume responsibility for all operations of the company’s 35,000-unit portfolio. Since the acquisition of HSC by Riverstone in 2008, he has served as the chief operating officer (COO) of the west division, as well as chief administrative officer.
Ottesen holds a Bachelor of Arts in Business Administration from Washington State University.