Building Blocks
Matt Perrin, Jeremy Green, and Lissette Calderon all started their own multifamily companies. But each of them got to that point in different ways. Perrin was president of Mark-Taylor Residential in Phoenix, while Calderon worked for bigger firms, most notably The Related Group of Florida in Miami. Green, on the other hand, had no experience in multifamily when he decided to jump in. Instead, he came over from Wall Street, where he worked for CBS SportsLine.com. Read more
A Touch of Home
Mention "garden apartments," and an image of three-story buildings surrounded by a sea of blacktop parking lots jumps to mind. But garden-style rental living doesn't need to resemble yesterday's stereotypes. Today's architects are incorporating new styles and designs to make garden apartments more updated and appealing to would-be residents. Read more
Growth Cycle
Kevin Timochenko wanted Wyomissing Gardens badly. He wanted the 156-unit property in Reading, Pa., so badly, in fact, that he offered the Department of Housing and Urban Development $2.2 million for the complex. But, after the agency made a last-minute request for $200,000 in back property taxes as a condition of the deal, Timochenko pulled out. Six months later, Timochenko got a second chance when HUD put the property up for auction. Timochenko joined the bidding from the beginning and, when the property hit $1.3 million, his competition bowed out. "I was thinking I would never get this place. Besides the birth of my children, that was the most exciting day in my life," says Timochenko, president and founder of Metropolitan Management Group, a Reading, Pa.-based company that buys and repositions properties. Read more