Executive Profile

People first, properties second

Collaboration fosters lasting connections for real estate executive

By ALYSSA TUFTS

Libby Ekre, principal and certified public manager for MEB Management Services, found her footing early on in her career. Her dedication and skills earned her leadership positions, and she became a director in her mid-20s.

“I started my career in multifamily real estate. As a young person trying to figure out what I wanted to do when I grew up, I accepted a position as a leasing consultant on a newly constructed community that included a free apartment,” Ekre says. “After many trials and errors, I found myself infatuated with the incredible opportunity to run a multimilliondollar business and actually change outcomes for residents and clients. I managed my first new build at the age of 21 and worked my way up to an asset director by age 25, overseeing six communities for multiple clients. Eventually this opened up opportunities with my clients to manage their commercial sites.”

MEB manages more than 23,000 multifamily units and 3 million square feet of commercial properties throughout the Southwest and Midwest. The company’s 600-plus team members aim to enrich client lives by providing management, consulting, receivership and rehab services for all types and asset classes of rental housing, including luxury apartment and rental home communities, workforce apartments, studentoriented communities, affordable communities and active senior housing.

Over the years, Ekre had opportunities to work with incredible regional and national companies, but after three acquisitions in three years, she and her clients were exhausted

In April, we launched the MEB Cares Team that reached out and assisted residents who were in immediate need of rent, utilities and food supplies. We were able to touch more than 2,000 residents. We have gained a lot in all of this and are very hopeful for what this has allowed for our future.— Libby Ekre

with the frequent changes. It was at that point Erke knew she wanted to start a company that, first and foremost, focused on the people.

“I said to Jodi Sheahan, my long-term colleague and friend, ‘We need to start our own company, and you will need to get your broker’s license — and I am pregnant.’ She commented that if asked Melanie Morrison, another industry professional who we knew well, if she was interested in joining, then it all would fall together. Long story short, Melanie said, ‘Yes.’ The timing was perfect,” Ekre recalls.

As MEB grew, Ekre’s role evolved as they began the company working fulltime in an operations capacity running properties and the business with Ekre managing new business and oversight of operations, and has now moved into overseeing human resources and benefits, learning and development, and marketing/branding.

“Throughout our 22 years, we have grown mostly by word of mouth,” Ekre says. “This developed organically through our focus on integrity and culture, which undoubtedly speaks of our strategies focused on our people. We have been honored to be recognized as the first- or second-largest firm in the state. This was not our goal but instead the result of our culture.

“Some big changes MEB has seen recently include being in breakout mode in managing class A and A+ properties. We have emerged rapidly in the Sunbelt with expansion to our portfolio in Tennessee, Texas and New Mexico,” Erke continues. “Due to our innovation with technology, more owners/developers are drawn to us with an emphasis on green housing, smart home technologies and sustainable living. We also have dozens of newly developed communities across Arizona as a result of growth within our state.”

Although growth has propelled MEB as a leader in multifamily properties, Ekre says that persevering through economic downturns in 2016-2017 and 2020 required collaboration and responsiveness.

“Our planning, foresight and clients got us through 2016-2017. During that time, we were fortunate to have a business partner who had the foresight to build relationships with lenders and special servicers; the three of us became receivers for many struggling multifamily and commercial assets. This strategy allowed us to continue to be strong in an extremely volatile market.”

In 2020, Ekre said the urgency for technology to be launched at an exponential velocity, combined with prior planning and agility, allowed MEB to pivot quickly and match pace with the need for touchless viewing, leasing and rental payments. “In April, we launched the MEB Cares Team that reached out and assisted residents who were in immediate need of rent, utilities and food supplies. We were able to touch more than 2,000 residents. We have gained a lot in all of this and are very hopeful for what this has allowed for our future.”

In addition to her role at MEB, Ekre is involved with the Institute of Real Estate Management (IREM), an international organization that provides education and resources to property managers worldwide. Ekre was elected to the national position of secretary and treasurer for 2022 and will be inducted at IREM’s annual meeting in October 2021. Throughout this year, she will continue as senior vice president on IREM’s executive committee while beginning to transition into her new role. Ekre has served on the IREM Phoenix Chapter Executive Council since 2005 and held the title of president in 2008 and 2017. “It is an honor and a privilege for me to be elected to this position,” she says. “This organization means a great deal to me personally and professionally. It has the highest and best education offered in the real estate industry.”

According to Erke, property operations and people management are two skills that have contributed to her successful career. “Understanding the intricacies of managing a wide array of assets and participating in the continuing education program through IREM to keep current with changes, updates and nuances in our industry are very important,” she notes.

“It’s gratifying when team members are able to work together, find solutions and provide a service that they can be proud of and feel a sense of accomplishment,” she adds. “That is very rewarding.”