Management Team

Stephen D. Margerum, ARM^®, CPM^®

Principal, Founder

Stephen Margerum is the Founder and Principal of Cove Property Management, where he leads investment strategy, oversees debt and equity relationships, and directs acquisitions, dispositions, and development execution across the firm’s multifamily and mixed-use investments in the Mid-Atlantic and Southeast.

Prior to founding Cove in 2008, Stephen joined Equity Management Inc. in 2004 as a Leasing Consultant, advancing to Property Manager and ultimately to Regional Property Manager. He oversaw a 500+ unit Tennessee-based value-add portfolio and later managed more than 2,200 value-add apartment units across Prince George’s and Baltimore Counties in Maryland.

Since founding Cove, Stephen has directed the acquisition, development, renovation, and repositioning of more than 5,000 residential units and 150,000 square feet of commercial space. As sponsor, he has raised and structured private equity across multiple investments, leading full-cycle execution from acquisition through stabilization and disposition. In partnership with private capital and development partners, he has supported the delivery of multiple Class A multifamily communities and build-to-rent townhome projects throughout the Mid-Atlantic.

Stephen holds the Certified Property Manager (CPM®) and Accredited Residential Manager (ARM®) designations from the Institute of Real Estate Management (IREM) and serves as Executive CPM for Cove. He is a Past President of the Maryland Multi-Housing Association (MMHA), serves on the Board of Directors and Executive Committee for MMHA, and is a past board member of IREM Maryland Chapter 16. Stephen teaches Investment Real Estate courses nationally through IREM and received the IREM Professional Achievement Award in 2016.

Stephen earned a Bachelor of Business Administration from James Madison University and is currently completing a Master’s in Real Estate at Georgetown University.

Douglas Margerum, CPM^®

Principal, Founder

Douglas Margerum, CPM^® received his Bachelor of Science degree from the University of Maryland in 1970 with majors in Personnel Management and Economics. He also attended American University for real estate studies. Mr. Margerum received his Certified Property Manager (CPM^®) designation from the Institute of Real Estate Management in 1972 and holds a Maryland Real Estate Brokers’ License.

Mr. Margerum worked for Community Realty Company, Inc., a local firm with over 10,000 apartment units, beginning as a Management Trainee, then as a Property Manager and eventually as Assistant Director of Property Management. He managed numerous properties throughout Washington and Baltimore, including the opening of new properties in the region. In 1977, Mr. Margerum joined DRG Financial Corporation as Second Vice President. There he specialized in FHA/HUD financing of existing apartment communities.

In 1980, Mr. Margerum formed Equity Management, Inc. As Founder, President and Chief Executive Officer, Mr. Margerum oversaw the growth of the firm that managed over 12,000 apartment units in nine states. In 2008, Mr. Margerum sold the third party management business of Equity Management Inc. to the senior executives; the purpose of this was to allow Mr. Margerum to acquire and develop additional multifamily equity investments.

Bob Lowther, CAPS

Chief Operating Officer

Bob Lowther joined Cove Property Management as Chief Operating Officer in April 2025, bringing more than 30 years of expertise in property and asset management. He leads Cove’s property management operations across the portfolio, guiding teams to deliver operational excellence, enhance resident experience, and strengthen ownership value through consistent performance and innovation.

Before joining Cove, Bob served as Senior Vice President of Asset Management for Arbor Management Acquisition Company (AMAC), overseeing a diverse portfolio across multiple U.S. markets. His leadership experience also includes strategic roles at The Dolben Company, Inc. and Equity Residential where he managed substantial multifamily and commercial assets and implemented performance-driven operational strategies.

Michelle L. Green

Chief Financial Officer

Michelle Green, with over two decades of financial experience, has been a cornerstone of Cove Property Management’s leadership since February 2016. Initially serving as Director of Finance and HR, Michelle now excels in her role as Chief Financial Officer. Her profound expertise in corporate accounting, treasury management, and financial reporting is pivotal in sculpting the company’s strategic direction alongside the CEO.

In addition to her financial responsibilities, Michelle leads the company’s human capital management and oversees the integration of technological advancements into the company’s operations. This strategic oversight ensures that both HR infrastructure and technology align with corporate goals, enhancing operational efficiencies and innovation. Her holistic approach not only optimizes processes but also cultivates a workforce capable of driving sustained growth. A respected member of the Society of Human Resource Management, Michelle holds a Bachelor’s degree in Finance and Information Systems and a Master of Business Administration. Her comprehensive leadership is instrumental in positioning Cove Property Management at the forefront of the industry.

Courtney Higgins, ARM^®, CPM^®

Regional Portfolio Manager

Courtney Higgins has been a dynamic part of the multi-family housing industry since 1999, beginning her career as a Leasing Consultant and quickly rising to Assistant Property Manager and then Property Manager within a few years. Her career has been marked by numerous awards for community and resident satisfaction. In 2019, she joined Cove Property Management as Property Manager, taking charge of Spa Cove Apartments and later West Woods Apartments. Her leadership skills led to a promotion to Senior Property Manager in 2020, where she provided extensive support across the Washington Region.

Earning her ARM® and CPM® designations in 2021. She is currently excelling as Regional Portfolio Manager, Courtney applies her extensive experience to enhance property management operations across the region. Outside of work, she enjoys the outdoors, spending time with her husband and four sons in various sports and finds relaxation in beach outings and gardening. Courtney is also interested in learning how to knit.

Carrie Shoemaker, ARM^®, CPM^®

Regional Portfolio Manager

Carrie Shoemaker has been a dedicated professional in property management since 2015, beginning her career as a Leasing Consultant. Demonstrating a strong aptitude and commitment to her field, Carrie was promoted to Assistant Property Manager in 2018 and then to Property Manager in 2020. She joined Cove Property Management in March 2021, bringing her expertise and enthusiasm to further enhance our property management operations.

Carrie received her ARM (Accredited Residential Manager) designation in November 2021 and is currently a candidate for the CPM (Certified Property Manager) certification, underscoring her ongoing commitment to professional growth and excellence in the field of property management. Outside of work, Carrie has a passion for the outdoors and enjoys working out, traveling, and exploring new restaurants. She also loves hiking and spending quality time with her family and her beloved pets, two dogs and a cat, which keep her busy and fulfilled.

Stephanie Krupnik, ARM^®, CAM

Regional Portfolio Manager

Stephanie Krupnik is an accomplished real estate professional with nearly three decades of experience across multiple sectors of property management and sales. She began her career in 1996 as a Leasing Agent and quickly advanced through roles including Property Manager, Asset Manager, and Regional Manager. Her expertise spans multi-family residential, senior housing, condominium conversions, commercial properties, and sales, giving her a comprehensive understanding of diverse real estate markets.

Throughout her career, Stephanie has successfully managed portfolios and operations in Maryland, Washington D.C., Virginia, Indiana, Arizona, Nevada, and California, demonstrating adaptability and leadership in both established and emerging markets. Her strategic approach and commitment to excellence have consistently driven performance and growth for the properties and teams under her management.

Stephanie holds the following professional certifications, Certified Apartment Manager (CAM) through the National Apartment Association (NAA) and Accredited Residential Manager (ARM) through the Institute of Real Estate Management (IREM).

Outside of work, Stephanie enjoys spending time with her husband and their English Cream Retriever, Patton. She is passionate about fitness, loves traveling, and values time spent with friends and family.

Nicole Britton

Business & Financial Systems Analyst

Nicole Britton began her journey in the property management industry in 2010 as an assistant to a Regional Property Manager. Her proficiency and dedication quickly led to a promotion to Executive Assistant in 2011. Nicole embarked on a consulting career in 2015, with Cove Property Management as her main client, showcasing her expertise and value to the organization. This fruitful collaboration culminated in her joining Cove full-time in 2022, where she now excels as an Operations Analyst and Payroll Administrator. Nicole’s dedication to fulfilling any need the company has, coupled with her ability to organize data and create impactful data outputs, enables company leaders to make key decisions that improve operations.

Outside of her professional responsibilities, Nicole is deeply involved in her community as an active volunteer at her church. She has a passion for the outdoors, enjoying hiking in the mountains and gardening. Nicole is also an avid swing dancer and cherishes spending quality time with her two children and her dogs. Her diverse interests and community involvement reflect her dynamic personality and commitment to a balanced life.

Caitlin Shrum, ARM^®

Manager of Operations & Marketing

Caitlin joined our on-site management team in 2013 as a Leasing Consultant and quickly advanced. After five successful years on-site, she transitioned to our corporate office in 2018 to fill a newly created role as Operations Coordinator. In 2021, Caitlin was promoted to Manager of Marketing & Training and now serves as our Manager of Operations & Marketing.

In her current role, Caitlin oversees all company-wide and property-level marketing initiatives, delivers operational training and support to team members across the portfolio, and leads our Cove Cares philanthropic programs. She earned her ARM® designation in 2017, was named ARM® of the Year by the IREM Maryland Chapter in 2019, and became a global finalist for IREM’s ARM® of the Year in 2023. In 2024, she received the MMHA Miki Wilson Shining Star Award, the Workforce Innovator Award, and led Cove Cares to win the Making a Difference Award. In 2025, she was honored with the Super Star Award.

Caitlin also serves on the Board of Directors for the IREM Maryland Chapter and contributes to several industry committees, reflecting her dedication to professional excellence, industry leadership, and community impact. Her vision, innovation, and commitment play a vital role in driving our team’s success. Outside of work, Caitlin enjoys spending time with her family, caring for her animals, and traveling.

Katie Horetsky, ARM^®

Project Manager

Katie graduated with a Bachelor of Arts degree from Goucher College in 2010. She began her career in Property Management in 2010 as a Leasing Consultant and was quickly promoted to an Assistant Property Manager followed by Property Manager. She joined the Cove Property Management Team as a Property Manager at The Mount Royal and Queen Anne Belvedere Apartments in 2015 and obtained her ARM® designation through the Institute of Real Estate Management. Throughout her career Katie developed a passion for the care and improvement of the physical assets we manage, and joined our corporate team in 2019 as a Project Manager.

As Project Manager she has executed numerous capital renovation projects, streamlined our contract bidding process, and identified opportunities to reduce expenses while maintaining our high standards of service. Fun fact about Katie, she started as a part time porter, cleaning commercial spaces!

Kirby Luigi Dublin

Senior Accountant

Nicole Britton began her journey in the property management industry in 2010 as an assistant to a Regional Property Manager. Her proficiency and dedication quickly led to a promotion to Executive Assistant in 2011. Nicole embarked on a consulting career in 2015, with Cove Property Management as her main client, showcasing her expertise and value to the organization. This fruitful collaboration culminated in her joining Cove full-time in 2022, where she now excels as an Operations Analyst and Payroll Administrator. Nicole’s dedication to fulfilling any need the company has, coupled with her ability to organize data and create impactful data outputs, enables company leaders to make key decisions that improve operations.

Outside of her professional responsibilities, Nicole is deeply involved in her community as an active volunteer at her church. She has a passion for the outdoors, enjoying hiking in the mountains and gardening. Nicole is also an avid swing dancer and cherishes spending quality time with her two children and her dogs. Her diverse interests and community involvement reflect her dynamic personality and commitment to a balanced life.

Johnathan Burris

Human Resources Generalist

Johnathan brings over a decade of human resources experience to his role at Cove Property Management, where he supports the organization through comprehensive people operations and employee-focused HR practices. As Human Resources Generalist, he plays an integral role in onboarding and offboarding, employee relations, compliance, and day-to-day HR support across the company.

Johnathan partners closely with leadership and managers to enhance HR processes, strengthen training and onboarding programs, and improve internal systems that promote consistency, engagement, and operational efficiency. He is particularly passionate about supporting both employees and the organization’s long-term goals.

Known for his collaborative approach, attention to detail, and commitment to continuous improvement, Johnathan helps foster a positive, compliant, and well-supported workplace culture aligned with Cove Property Management’s values.