Now, Denholtz has hired former Hovnanian Enterprises exec JohnJ. Schimpf to manage the new holdings and anything else the companymay acquire in the near future. Specifically, he will overseeleasing and property management of the properties, which arelocated in the Midwest and Southeast.

"He's an accomplished professional," according to managingdirector/CEO Steven J. Denholtz. "His experience in managing anational operation will be invaluable as we integrate the Banyanportfolio and other possible acquisitions into our existingoperations."

Schimpf has been an independent real estate consultant for thepast few years. He spent 16 years with homebuilder HovnanianEnterprises, where as executive vice president and a member of theboard of directors he is credited for being instrumental in takingthe company public. Before Hovnanian, Schimpf had stints with Marsh& McLennan and Chase Manhattan Bank.

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