P roperty M anagement
M id A tlantic Real Estate Journal — Owners, Developers & Managers — February 2024 — 9C
www.marej.com
Jim Lindsey and Kevin Woodley are managing partners of the new firm Buvermo launches BVO Capital to focus on CRE development, investment & property management B ETHESDA, MD — Two senior executives with Buvermo In- ners of the new firm, BVO Capital, which is backed by Rinkelberg Capital , a Lon-
partner, BVO is a vertically integrated sponsor-operator.” BVO’s emphasis on active adult, multifamily and build- for-rent reflects the long-term structural undersupply of housing in many U.S. mar- kets, in particular high-growth Southeast and Sunbelt mar- kets where in-migration has been even stronger. BVO Capital launches with an ownership and property management portfolio that in- cludes (5) active adult commu- nities in Charlotte, Raleigh, and Myrtle Beach. BVO’s development pipeline includes an additional (6) communities. Most of the properties operate the LTA program in Prince George’s County. Since its launch in 2023, 50 students have participated in the pro- gram, and nearly 65 percent accepted a full-time position from one of the program partners upon graduation. “We saw incredible success in Prince George’s County and are confident the program will be just as successful in Balti- more County,” added Manning. “There is a need for quality candidates in the housing field, and our program is helping to fill that void while creating a meaningful experience for program participants.” The LTA is open to Balti- more County residents aged 18 or older. Applications are now being accepted for the first Baltimore County cohort, which launches May 6, 2024. The Maryland Multi-Hous- ing Association (MMHA) is a professional trade association established in 1996, whose membership consists of owners and managers of more than 215,228 rental housing homes in more than 997 apartment communities. Our members house over 561,000 residents of the State of Maryland through- out the entire State of Mary- land. MMHA membership also includes more than 221
is on Charleston, Charlotte, Nashville, Raleigh, and Sa- vannah in the Southeast and the Washington, DC metro in the Mid-Atlantic. “We know these markets and have ex- perience investing in them,” Lindsey said. Woodley added, “Despite the disruption in capital markets, there has been a relief in con- struction pricing and oppor- tunities are crystallizing. Our development pipeline is robust, and we’re actively pursuing new development sites, third party management contracts, and acquisition of existing communities that meet our investment criteria.” MAREJ
or will operate under the name Arden 55+ Living. Arden 55+ Living was founded in 2020 and to date has invested over $200 million with an addition- al $300 million in the pipeline. “BVO Capital is a demo- graphics driven investment and development firm,” Wood - ley said, “drawn to Sunbelt markets that will see long- term job growth and in-migra- tion. These factors combined with an aging demographic reflect a long-term need, even with the short-term impact of multifamily deliveries, for con- ventional multifamily, built for rent, and active adult living.” BVO’s initial market focus associate members that sup- ply goods and services to the multi-housing industry. LTA Academy Placement Partners: • Allen & Rocks • Cove Property Management • Dweck Properties • Enterprise Residential • Grady Management • Kettler • Legacy Residential
don-based family of- fice. BVO has offices in Bethes- da, MD and Charlotte, NC. “ W e ’ v e been incu- bating BVO
vestments based in Be the sda have spun off BVO Capi- tal to focus on multifam- ily and com- mercial real estate devel- opment, in-
Jim Lindsey
Kevin Woodley
Capital within Buvermo since 2020 and share a capital partner in Rinkelberg,” said Lindsey. “While Buvermo will continue to focus on real es- tate investments as a limited
vestment, and property man- agement in the Southeast, the Sunbelt, and the Washington, DC metro area. Jim Lindsey and Kevin Woodley are managing part-
Maryland Multi-Housing Association launches first-of-its- kind Leasing Training Academy in Baltimore, Maryland
students receive one-on-one coaching and connections to the multifamily industry. “In today's economy and workforce, this program ad- dresses a crucial need – pro- viding career opportunities for those who do not want to or cannot participate in the conventional college route,” said Candice Manning , di- rector of Workforce Develop- ment and Training at MMHA. “Recognizing the evolving re- quirements of the job market, the LTA goes beyond the tradi- tional approach. The program is designed not only to equip participants with technical know-how but also to address the broader and specific needs of the industry.” Upon completion of the pro- gram, the LTA works with the students to identify and secure interview opportuni- ties with reputable property management companies which often leads to jobs. The LTA serves as the liaison between the hiring company and the student to ensure a success- ful transition into their new roles. LTA graduates also have a professional mentor who provides additional guidance and support after they enter the industry. MMHA first launched
• Murn Properties • Quest Management Group • Ross Companies • Southern Management • The Donaldson Group • WPM Real Estate Management • Bozzuto • Sage Ventures • RPM Living
OWINGS MILLS, MD — The Maryland Multi-Hous- ing Association (MMHA)
is expanding its workforce development pr ogram- ming with the intro- duction of its Leasing Training Academy (LTA) to Baltimore.
• Gold Oller • Signature
• LiveBe • Morgan
• Planned Companies • Gates Hudson MAREJ
Candice Manning
Launching in the Baltimore region in partnership with the Baltimore County, the LTA offers a free, compre- hensive training program for Baltimore residents who are unemployed, under-employed or looking for a new career in the residential property management industry. The five-week training program exposes students to the basic practices of leasing, helping them to develop the skills to be successful in the industry. The training includes classes on leasing workflow, sales strategies, online reputation management, the marketing mix and more. The last week of the program focuses on soft skills to prepare the stu- dents for transition into the property management field. In addition to the training,
HOLMDEL, NJ — In- spired by Somerset De- velopment (Inspired) an- nounced the successful leasing of more than 120,000 s/f of commercial space across the Bell Works New Jersey and Chicago metroburbs in 2023. As a result of this surge in deals, Bell Works New Jersey is now 99% leased. Bell Works New Jersey 2023 Leasing Highlights Throughout 2023, 21 com- panies at Bell Works in New Jersey have contributed to the metroburbs' vibrant ecosys- tem by nurturing collabora- tion, innovation and creativity alongside a variety of retail, culinary and entertainment of- ferings. The leases encompass both traditional office spaces Bell Works celebrates 10 th Anniversary and Bell Works' signature Ready-To-Wear (RTW) de- signer office suites, showcas - ing distinctive, immediately available designs and flexible, short-term leasing options. Bell Works’ creative direc- tor, Paola Zamudio and her team at NPZ studio+ , curated the interior design for the Ready-To-Wear workspaces. Momentum at CoLab, the official coworking membership experience at Bell Works New Jersey also continued to rise in 2023 with all 66 private offices leased and 66 of its 68 dedicated desks leased. A total of 140 active companies utilize the metroburb’s flexible workspaces at CoLab, with a total headcount of over 400 employees. MAREJ
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