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Stuart Heller
Stuart Heller founded Monroe Group Ltd. in 1979 with a management agreement for a single 81-unit affordable housing property. Since that time, the company has grown to manage and/or own over 30 affordable multifamily properties in 11 states. Heller is certified by the Colorado Housing and Finance Authority in Low Income Housing Tax Credit compliance, is a member of the Rocky Affordable Housing Management Association, and is a certified specialist in housing credit management by the National Affordable Housing Management Association. The National Assisted Housing Management Association has certified Heller as an NAHP Executive. He is also a member of the National Association of Housing and Redevelopment Officials. Heller, a lifelong Denver resident, has been a licensed real estate broker in the state of Colorado since 1965. He has been active in developing, owning and managing affordable housing projects since 1978. Heller holds a Bachelor of Science in Business Administration from the University of Denver.

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Hud Karshmer
Hud Karshmer joined Monroe Group as a Principal in 2004. Since that time, Karshmer has guided the firm through significant growth year-after-year. Karshmer is also the President and founding member of Community Housing Concepts (CHC), an organization founded to increase opportunities to preserve and improve affordable housing resources. Karshmer serves as Principal for Steele Properties LLC, a leading real estate development company specializing in the acquisition, rehabilitation, and new construction of affordable multifamily rental properties. Along with his fellow Principals, Karshmer has guided Steele through over $250 million in acquisitions, sales and development activity involving 30 properties and nearly 2,600 units.

Karshmer’s previous experience includes various director‐level positions with Qwest Communications where his primary focus was new products and features development. Before Qwest, Karshmer was Vice President of Business Development for a high end technology marketing firm, whose customers included IBM and Microsoft. Karshmer holds an MBA from Arizona State University and a B.A. from the University of California at Berkeley. Karshmer served on the board of Housing Justice, a non‐profit whose mission is to educate diverse faith communities on the need to provide decent affordable housing for all.

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Chad Asarch

Since joining the Monroe Group as a Principal in 2006, Asarch has led the affordable property management firm’s growth from a small company with fewer than 10 properties, to a well-established agency in the real estate industry with over 30 properties in 11 states. Asarch is also co-founder and Principal of Steele Properties, a respected real estate investment firm with over $250 million in acquisitions, sales and development activity in 11 states.

Prior to Monroe and Steele, Asarch served as Senior Vice President and Associate General Counsel at Apartment Investment and Management Company (AIMCO).  While at AIMCO Asarch served as secretary of its investment committee, negotiated the closings of over $5 billion in sales and acquisitions, oversaw all legal issues related to property operations, and managed its 20-person legal department. Asarch graduated from Williams College cum laude with honors and holds a J.D. from the University of Michigan, where he graduated magna cum laude and Order of the Coif. He also served as a contributing editor for the Michigan Law Review. Asarch is active in numerous philanthropic organizations including the Allied Jewish Federation of Colorado and the Jewish Community Relations Council. In 2012, he joined the University of Colorado Law School as an Adjunct Law Professor teaching Real Estate Transactions, and he is a member of the University of Colorado Law School Curriculum Advisory Board.

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Emily Hemaidan
Vice President
Emily Hemaidan joined Monroe Group in 2009 and is the firm's Vice President of Operations. She works with the organization’s principals and executive team to implement and oversee the strategic growth plans and operations accross all areas of the company, including: acquisitions and development, property management operations, construction, legal, and overall company financial performance.

Hemaidan came to Monroe Group from Qwest Communications where she worked a Lead Marketing Professional. With Qwest she was responsible for the development and execution of messaging and offer strategies for Qwest Fiber-Optic Internet, and worked closely with network, product development, corporate strategy and marketing groups to integrate effective campaigns and tactics. Hemaidan previously served as a Data and Analysis Manager for Comcast Cable and as a Consultant for Gibson and Associates where she focused on the operational business activities of manufacturers and distributors. Hemaidan graduated from Indiana University-Bloomington with a Bachelors of Science in Finance and Accounting. Her other activities include volunteering for the Women's Bean Project, an organization dedicated to helping women break the cycle of poverty and unemployment.

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Margaret Nevarez
Director of Operations

Margaret came to Monroe Group continuing over a 10 year career in human resource management and organizational development. Margaret holds a Master’s degree in Education of Organizational Development from Colorado State University and a Bachelors in Business Management. Throughout her career as a strategic business partner,  Margaret has demonstrated her ability to create stakeholder value by building high performing teams, increasing organizational effectiveness, and producing positive business results.

Margaret’s goal is to ensure that Monroe’s operations management practices and policies support a healthy and highly effective workplace culture. To accomplish this, she works proactively to ensure our people, practices and policies are aligned with Monroe’s mission, vision, and culture. This enables Monroe to achieve its core focus of providing the highest standard of professional property management and contribution to its communities for continued success.

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David Asarch
General Counsel

David Asarch is Corporate Counsel to Monroe Group Ltd. and its development partner Steele Properties LLC. Asarch oversees all corporate legal issues related to the affordable property management and development activities of each company. Asarch oversees all real estate transactions, tax and corporate governance, service contracts, property management issues, and employee and tenant related matters.

Asarch previously worked as an Associate in the Real Estate Department at Brownstein Hyatt Farber Schreck, LLP where he represented buyers, sellers, borrowers and lenders on various commercial real estate transactions. Asarch previously served as an Associate in the Real Estate Department at Loeb & Loeb LLP in Los Angeles, California. He received his BA from Middlebury College and his JD from Stanford Law School. He was recently named “Best Corporate Counsel- Rising Star” by the Denver Business Journal. Asarch currently serves on the Board of Directors of Jewish Family Service, as well as Congregation Hebrew Educational Alliance. He also serves on the Finance Committee at SafeHouse Denver.

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Jason VanAernam
Director of Construction
Jason Van Aernam joined Monroe Group in 2008 with over twenty years experience in the construction industry. Van Aernam oversees all construction activity for Monroe Group’s development partner, Steele Properties, which has included seventeen LIHTC property rehabilitations. Van Aernam also oversees ongoing construction related needs for all of Monroe Group’s managed properties.  Before joining Monroe Group, he served five years as Vice President of Construction for Richmond American Homes. His career also includes experience with light commercial concrete and industrial steel.  Van Aernam is a member of the Denver Metro Homebuilders Association and the National Association of Homebuilders.

Diane McGarity
HUD Compliance Manager
Diane joined Monroe Group in November of 2007. Her qualifications include Certified Occupancy Specialist (COS), Low Income Housing Tax Credit (LIHTC) and Fair Housing Coordinator certifications.  Prior to joining Monroe Group, Diane worked for AIMCO where she was required to travel between properties to complete pre-MOR audits.

Davina Ray
Regional Property Manager
Davina is the Regional Property Manager overseeing property operations in the Western Region.

Nahla Somogyi
Regional Property Manager
Nahla Somogyi is the Regional Property Manager overseeing property operations in Missouri, Indiana, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, and Oklahoma.

Oralia Leija
Regional Property Manager
Oralia Leija is the Regional Property Manager overseeing property operations for all Texas properties.

Jeff Vance

Recent News

Monroe Group adds Lawton Pointe to growing management portfolio
Monroe Group adds Wilkes Towers to growing management portfolio
Construction begins on $5.28 million redevelopment of Delhaven Manor Apartments

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2011 Monroe Group
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