TYSONS CORNER, VA-Apartment Realty Advisors, a large, privately-held apartment advisory and brokerage firm in the Atlanta area, has just opened its first office in the Mid-Atlantic, after staffing it with local executives. Drew White and Mike Marshall, formerly of Cushman & Wakefield, are leading the office, along with Ryan Ogden, former managing partner of Acquisitions & Asset Management at the Bozzuto Group. “ARA has been trying for years to start up an office here,” White tells GlobeSt.com. “All together, there will be a complete team of eleven people running the day-to-day operations.” ARA‘s Jeff Pritchard, who moved from Dallas to Northern Virginia to help launch the company can also be counted among the office’s top executives.
The office is based in Tysons Corner, with the firm having just inked the lease this week. It will handle transactions throughout the Mid-Atlantic, from Philadelphia to Norfolk, VA, White says. In the near term it plans to list between eight to 12 properties, including trophy assets in Northern Virginia and Baltimore.
“Our clients include REITS, developers and financial institutions,” he says. All told, the company is coming to market with an aggregate pipeline of properties that White estimates to be valued at around $500 million.
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