Urban Realty Partners will join Regent Partners to form a new division focusing on urban residential development. The combined company, which has a total of $600 million in active projects, will be poised for growth throughout the Southeast. "As our business has matured to focus on mixed-use and residential development projects, we want to continue to grow our team to be market leaders in our core businesses," says Regent Partners president Reid Freeman. "By merging with Urban Realty, we are getting an expert, professional team with a proven and successful track record and a pipeline of attractive projects."

Urban Realty Partners founder and managing partner Mark Riley will lead the new division of Regent Partners. He will assume the position of principal of residential development. Sheldon Taylor, Riley's partner and CFO at Urban Realty Partners, will become the Regent Partners' CFO. "Joining forces with an experienced mixed-use developer provides a tremendous platform for our combined company to mix residential, office, retail and hotel projects in urban areas," Riley says. "Regent's ability to execute larger projects--and its strong capital base--makes a very strong foundation for positive development throughout the Southeast."

Urban Realty Partners was established in 2000. Recent projects include the Reynolds, a 125-unit condominium project on Peachtree Street in Midtown, and the Brookwood, a joint venture with Melaver Inc. that will contain 272 residential units and 20,000 sf of retail space. Regent Partners was established in 1988. Recent projects include Tower Place, a 26-acre mixed-use development on Peachtree Street in Buckhead with more than 1.7 million sf of office, retail, hotel and residential space, and 3344 Peachtree Rd. and Sovereign, a 50-story building with 500,000 sf of office space, retail space and 93 condominiums.