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Passco Cos. Development is expanding its value-add and ground-up development platform in response to changing market conditions. The development arm of Passco Cos. has hired Carey P. Levy as president to lead the expansion efforts. Levy formerly served in this position at the company from 2007 to 2013, and is returning to the firm to oversee development and value-add repositioning acquisitions, entitlements, construction and financing nationally and across multiple real estate asset types.

“Passco is focused on transactions in multifamily and has been extremely successful in this area for the last 21 years,” Levy tells GlobeSt.com. “We are continuing with that strategy, and are also making strategic moves for the future. By thinking prudently about what may happen in the market going forward, Passco made the decision to allocate some of its investments toward other opportunities, including value-add and ground-up development properties.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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