A development firm that has built and acquired thousands of D.C.-area apartments over the last decade is transitioning to new leadership.

Insight Property Group announced Monday co-founder Richard Hausler is stepping back from his day-to-day leadership of the company, and Trent Smith is taking over as managing principal.

Hausler will remain the company's chairman. He co-founded Insight Property Group along with Mike Blum in 2009 after spending 23 years with Kettler, where he served as president.

Smith joined Insight shortly after its founding and has served as principal alongside Bill Goodman, Sarah Davidson and Maury Stern. Prior to joining Insight, Smith worked at JPI, Southeast Capital Partners and Tishman Realty & Construction, according to his LinkedIn page.

"Trent Smith has been a part of Insight and its leadership for over a decade," Hausler said in a release. "His outstanding abilities, character and leadership are well recognized by our longtime friends and partners at Insight, and throughout our industry. This transition, carefully planned for continuity as we continue to grow and innovate in this next decade, puts our partners and clients first as always."

Insight has developed and acquired more than 4,500 residential units and 200K SF of retail and office space since its founding. In 2016 it delivered The Apollo, a 431-unit, Whole Foods-anchored project on H Street NE.

It is currently partnering with Carr Properties on The Elm, a 456-unit residential tower in Bethesda, and it is converting a Foggy Bottom office building into 153 apartments. Insight has remained an active buyer this year, acquiring a Fairfax County multifamily building for $60M.