Management Support Charts Future After Founder's Passing

SANTA ANA, CA – March 31, 2026 – Following the passing of its founder and visionary leader, Dr. Edward Frankel, private real estate giant Management Support has initiated a significant leadership transition designed to secure its 58-year legacy while navigating the future. The owner and operator of over 14,200 apartment homes across Arizona and Texas announced today that it has elevated a trio of veteran executives to its highest ranks, signaling a profound commitment to continuity and the principles established by its founder.

In a strategic move to ensure operational stability, Michael Kron, the company's former Chief Operating Officer, has been appointed Chief Executive Officer. He is joined by a newly configured executive team composed entirely of internal leaders, a decision that underscores the firm's confidence in its established talent pool. This transition marks a pivotal moment for the company, as it moves beyond its founder-led era into a new chapter steered by those deeply familiar with its culture and operations.

A New Guard from the Old Ranks

The leadership succession at Management Support is a deliberate exercise in stability. The promotions create a new executive core with decades of collective experience within the company's specific operational framework. Joining Michael Kron in the C-suite are Scott Ferguson, who moves from Vice President of Real Estate to Chief Operating Officer, and Ben Daniels, who ascends from Assistant Legal Counsel to General Counsel. The team is rounded out by Scott DiMascio, who will continue in his long-standing role as Chief Financial Officer.

This new leadership team is tasked with stewarding a substantial portfolio through the complex real estate markets of the American Southwest. In his first public statement as CEO, Michael Kron emphasized a message of consistency and dedication to the company's core mission.

"Management Support has always been defined by its dedication to our communities," said Kron. "While we mourn the loss of our founder, our direction remains clear. We are moving forward with a leadership team deeply rooted in this company's operations and committed to fostering a culture where our people and properties can thrive. We are honored to continue the work Dr. Frankel began, maintaining a shared focus on the long-term health of our portfolio and the resident experience."

The sentiment was echoed by the new COO, Scott Ferguson, who highlighted the company’s independent and hands-on operational model as a key strength. "Our strength lies in our independence and our hands-on approach to ownership," Ferguson stated. "These changes reinforce a foundation that allows us to invest even more deeply in our people and properties."

Honoring a 58-Year Legacy

For nearly six decades, Management Support has operated as a private, founder-led entity, a structure that often intertwines a company's identity with its creator's vision. The passing of Dr. Edward Frankel represents more than a change in leadership; it is a test of the organization's resilience and the durability of its culture. By choosing to promote from within, the company is making a clear statement that its future lies in the preservation and evolution of its founding ideals, rather than a radical departure.

This succession strategy is a classic approach for private empires seeking to maintain stability after the loss of a central figure. The firm's emphasis on its "people-first" culture and its "Gold Standard" of maintenance and resident service are not just marketing phrases but are described as foundational pillars the new leadership is charged with upholding. As a vertically integrated owner-operator, Management Support controls nearly every aspect of its properties, from acquisition to daily management, a model that allows for consistent application of these standards across its vast portfolio.

The transition ensures that the thousands of residents in its Arizona and Texas communities can expect the same level of service, while employees see a leadership team that understands the company's history and internal dynamics. This focus on internal continuity aims to build confidence both inside and outside the organization, assuring partners and residents that the brand's promise remains intact.

Navigating a Dynamic Southwestern Market

The new executive team inherits a portfolio strategically positioned in two of the nation's most dynamic and competitive multifamily markets. Arizona and Texas continue to experience robust population and job growth, fueled by corporate relocations and a steady influx of new residents seeking economic opportunities and a desirable quality of life. This demographic tailwind creates sustained demand for rental housing, providing a strong fundamental basis for Management Support's operations.

However, this growth also brings significant challenges. Markets like Phoenix, Dallas-Fort Worth, and Austin are seeing a surge in new apartment construction, which is expected to moderate the rapid rent growth seen in recent years and intensify competition for residents. Furthermore, rising interest rates have increased the cost of capital for acquisitions and development, while persistent inflation impacts operational expenses.

In this environment, Management Support's long-standing strategy of owning and operating for the long term, combined with its focus on providing a premium resident experience with resort-style amenities, may serve as a crucial differentiator. While some competitors may focus on rapid transactions, this company's model is built on the sustained health of its assets. The new leadership's deep operational experience will be critical in navigating these market pressures, optimizing property performance, and identifying strategic opportunities for investment and improvement within the existing portfolio. The challenge for Kron and his team will be to balance the founder's legacy of careful stewardship with the agility required to adapt to a rapidly evolving economic landscape.