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Elif Kimyacioglu almost ignored the LinkedIn alert. With so many scammers and hackers cluttering her inbox, who could blame her? But this message stood out. A contact with several mutual friends was running a large property management firm and needed someone to build an in-house legal function from the ground up.
While the opportunity seemed too good to be true, Kimyacioglu, who spent a decade as an associate at Latham & Watkins, decided to investigate the invitation. “I loved the firm because of the brilliant and wonderful people I worked with and the cutting-edge work, but I wanted to consider other ways to solve problems,” she explains. “I knew going in-house could be a good fit if I could find the right company and the right team.”
The potential at Prime Residential, combined with a strong leadership team and Kimyacioglu’s desire to operate as a generalist, led her to Prime Residential. It was 2019, and Prime Residential was just shy of its thirtieth anniversary. The company was in the sweet spot—established and successful, but in the middle of an ambitious growth phase. Kimyacioglu knew she could make a real impact by building the legal team that would help Prime Residential execute on its goals.
Kimyacioglu was one of several senior leaders brought in as Prime Residential sought to internalize and improve several business and operational functions while expanding its portfolio. “You need more robust and elaborate teams to properly service a growing portfolio, and Prime Residential focused on investing in wonderful leaders to help us chart a path forward,” she explains.
As both head count and unit count grew, Kimyacioglu started having open and honest conversations with her counterparts about what they wanted from the legal function. “Legal compliance and risk management are the bare minimum, but a team built for more can add significant value,” the legal leader says.
She first hired a paralegal before adding three attorneys, another paralegal, and three claims managers. Lastly, Kimyacioglu hired a team member with a construction background to route safety issues from business to legal.
Moving Prime Residential’s claims management process in-house was a critical move for the company. The move ensures the company takes a customer-centered approach to dealing with concerns while also properly minimizing and managing risk.
Prime Residential now has about 500 employees and manages approximately 19,000 units in West Coast markets from San Diego to Seattle. Its scale means questions, concerns, misunderstandings, and disputes inevitably arise. “If we want to maintain a strong reputation as we grow, we have to stay connected to our residents in every way possible,” Kimyacioglu says. “We are responsive when residents call us because these are their homes we are dealing with.”
Community engagement and government affairs are especially important because of the company’s size. Prime Residential owns Park La Brea, for example. With 4,200 units and 10,000 residents, the landmark community is the one of the largest west of the Mississippi River. The property, which is adjacent to Wilshire Boulevard features garden townhomes and tower apartments. Its premium amenities include a professionally managed fitness center, five miles of activity trails, and a junior Olympic pool.
While Prime Residential utilizes external resources to assist in keeping up with California’s changing rules, regulations, and policies that affect its properties, Kimyacioglu’s team monitors similar issues in smaller markets. “We’re active regarding public policy because others look to us as an example,” says Kimyacioglu, adding that she and her colleagues work overtime to build relationships with city council members, local chambers of commerce, and other key players.
Five years into her tenure at Prime Residential, Kimyacioglu continues to work with her peers on Prime Residential’s senior leadership team, which sets priorities across the entire company. In doing so, she leans on some important lessons from her days at Latham & Watkins, where senior partners solicited opinions and advice from junior associates.
“I want to be the kind of leader who knows that everyone matters and that all contributions bring value,” she says. “I don’t want anyone to tell me yes because of my title or because they are intimidated.” Kimyacioglu anchors her team with positivity and starts each meeting by celebrating small wins to keep everyone motivated.
Public service, advocacy, and excellence run in Kimyacioglu’s family. Her grandfather was a member of Turkish parliament and an ambassador to the United Nations. Her two sisters played professional basketball in Turkey; one competed in the 2016 Summer Olympic Games as a member of the Turkish national team. When Kimyacioglu isn’t busy mentoring the legal minds at Prime Residential, she is often found coaching members of another competitive group—her daughters’ youth basketball teams at the local YMCA.
“Elif has the experience, judgment and instincts to truly collaborate with outside counsel when managing litigation risks facing her client. She acts as a true thought partner with the outside counsel she hires.”
–Michael D. Kibler, Managing Partner