establishedthis division at the beginning of the year.

The subsidiary launched with UIP's own multifamily portfoliounder its belt--some 760 units--as well as an additional 540 unitspreviously managed by the locally-based firm Hagner Management.UPI, at the time of the launch, also recruited several executivesfrom Hagner for its new endeavor. Today the subsidiary managesapproximately 1,400 units. UIP was not able to return a call in time for publication.

Separately UIPPM has been approved as an Accredited ManagementOrganization by IREM, the Institute of Real Estate Management, anaffiliate of the National Association of Realtors.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.