On the Job: Jeff Krohn, COO, Avenue5

Careers are a lot like properties: they’re built brick by brick.

Some people get in on the ground floor and climb steadily; others navigate unexpected detours and full-on renovations to reach their goals. And just like any great building, a career relies on ongoing maintenance, thoughtful additions, and the right “tenants”: the mentors, teammates, and partners who shape our growth.

For aspiring real estate professionals looking to construct their own paths, On the Job spotlights the leaders who’ve already built theirs. A section of The Brick, our housing insights newsletter, On the Job offers an inside look at the foundations they laid, the ceilings they broke through, and the lessons they’re passing forward to the next generation.

Today, in our inaugural issue, we’re featuring Jeff Krohn, COO of Avenue5, which ranks #8 on NMHC's Top 50 Managers List.

Jeff took a non-traditional path to the C-suite, where he now oversees performance success for more than 760 multifamily properties and 153,000 units across the country.

Read his interview below, and subscribe to The Brick to stay up to date on our next Q&A.

Getting in on the Ground Floor

How would you describe the path you took to get where you are today? What lateral moves, skill-building moments, or strategic pivots shaped your journey, and why?

I’ve taken a fairly unconventional path into multifamily. My entry point came in 2005 after a brief stint in the NFL ended abruptly, and I joined Alliance Residential Company shortly after it was founded by my father and his partner. I started in construction as an assistant superintendent: a role I never envisioned for myself, but one that gave me invaluable exposure to the physical side of the business.

When the Great Financial Crisis hit, I transitioned into the corporate office and was asked to solve a basic but critical problem: the company didn’t have a database. That challenge pushed me to learn SQL, Access, and eventually Salesforce, which led to building Alliance’s first CRM platform and scaling it across operations, central services, and new business. That work opened the door to business development leadership, where I ultimately built and led Alliance’s national new business platform.

At a certain point, I knew I needed deeper operational experience, so I moved into a VP of Operations role overseeing multiple states. Later, trusting my instincts, I bet on myself and launched my own management platform, Maverick Residential. Running my own company gave me a true ground-up understanding of property management. After selling Maverick, spending time in M&A, and ultimately joining Avenue5, every step—construction, technology, operations, and entrepreneurship—came together in a way that prepared me for where I am today.

The Building Process

What was one of the most challenging professional setbacks you faced – one that may have felt bad in the moment but ultimately taught you a lasting lesson? What did you learn, and how did it change you?

Starting my own management company was easily the most challenging professional leap I’ve taken. I underestimated how much of my network and resources were tied to the organization I had spent 14 years building alongside. Overnight, I had to build new relationships, earn trust from scratch, and operate without a safety net.

At times, leaving Maverick felt like a win, at others, a loss. But in hindsight, it was one of the most formative experiences of my career. It exposed me to every side of the business, the good, the bad, and the hard realities, which fundamentally changed how I think as a leader.

What was one of your biggest professional wins or breakout opportunities? What did it teach you, and how did it shape your trajectory?

One of my most meaningful professional wins was the opportunity to spend 14 years working alongside my father, Jim Krohn, who founded Alliance Residential Company. Watching his leadership firsthand, the foundation he built, his ability to bring teams together, and his vision to grow a small regional management, development, and acquisitions company into a nationally recognized, NMHC Top 10 platform was invaluable. Being able to contribute to that growth and help bring his vision to life remains one of the most defining and rewarding experiences of my career.

Ironically, starting and selling my own platform was both my greatest challenge and my biggest breakout opportunity. That experience positioned me to step into larger, more strategic roles, including joining Avenue5.

Coming to Avenue5 reshaped my trajectory entirely. It accelerated my growth into executive leadership, allowed me to work in specialized and unique roles, and ultimately led me to the COO position. Joining this incredible organization remains the most significant professional win of my career.

How did you originally get connected with Avenue5, and what motivated you to join the team?

I was at Alliance Residential when Avenue5 launched, and the industry immediately took notice. I had followed Walt Smith’s career long before that and admired what he and the founding team were building. Years before joining, Walt and I connected and stayed loosely in touch, watching each other’s paths unfold.

When the opportunity finally aligned, what drew me in was simple: integrity and culture. Walt Smith, Steve Davis, and Pal Ottesen are men of their word, a rare quality in any industry. The Avenue5 people-first culture, built on trust and proof over promises, was exactly what I was looking for. Four years in, I can say without hesitation that the culture lives up to its reputation, and it drives better performance and higher value for our clients.

What You’re Building Today

What does your role look like today, and how has it changed since being named as COO of Avenue5? Walk us through what you oversee, the impact you aim to have, and how your day-to-day responsibilities reflect the skills you’ve built over time.

As COO, my role is centered on alignment across operations, central services, executive leadership, and long-term strategy. I work closely with Walt and the entire executive team to ensure our goals are clear and that the organization is positioned for where we’re going in 2026 and beyond.

My focus is on continuing the strong cultural foundation established from Avenue5’s inception while strengthening the platform through accountability, talent development, retention, and leadership growth to drive performance success. The scope is broader, the conversations are deeper, and the responsibility is ultimately about empowering people to do their best work.

Leadership Structures

How would you describe your leadership style today, and how has it evolved throughout your career?

I’m a team builder at heart; it’s a passion of mine. I like to think I thrive in environments where alignment, trust, and execution matter. Much of that comes from my background as a quarterback; the idea of disagreeing, committing, and moving forward together.

Multifamily is an incredibly complex, people-driven business. Strong leadership is non-negotiable. Over time, my leadership style hasn’t changed so much as it’s matured; refined through experience, confidence, and perspective gained by navigating both success and adversity.

Blueprints for Future Operators

What advice would you give to rising operators in real estate who want to advance into senior roles?

First, become an exceptional operator. Understand the details. Get in the weeds. Then, learn how to pull yourself out of them.

As you grow, focus on building teams, developing talent, and hiring people who are smarter than you.

Say yes to opportunities outside your day-to-day role, especially those that expose you to central services departments and enterprise-level thinking.

The transition from operator to executive requires learning how to think at 30,000 feet; knowing when to dive in, but more importantly, how to empower others, align teams, and focus on the strategic decisions that move the business forward.

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