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PHILADELPHIA-Abco Properties sets up shop here. In a separate, unrelated top-level management shift, Newtown Square-based GMH Communities Trust, which has suffered a series of delays in financial reporting adds a new corporate controller.

Andrew Bleznak, former VP of locally based Amerimar Enterprises Inc., has left to form his own firm, Abco Properties. Bleznak tells GlobeSt.com Abco plans to acquire and develop office and retail properties, “primarily in the tri-state area. On the office side, we’re targeting acquisitions that have elements of stability and traditional value-added opportunities,” he says.

“We have access to significant capital sources and also have a retail partner and a development property in mind,” he adds, declining to identify the type or location. Bleznak was with Amerimar for the past nine years, and says, “it’s been a wonderful experience, but I wanted to form my own company, and the time seemed right.”

Meanwhile, Marina Dikos has been appointed VP and corporate controller for GMH. She is a former senior manager of KPMG LLP’s audit and business advisory service practice. Prior to that she spent 11 years at Arthur Andersen LLP. At GMH, Dikos will oversee management of accounting and financial reporting processes.

According to a GMH statement, Dikos has done “extensive SEC reporting and financial systems oversight along with experience with Sarbanes-Oxley compliance, due diligence on potential acquisitions, and public and private equity raises.” In the statement, Gary M. Holloway Sr., chairman, president and CEO, says Dikos “has a proven track record in managing the accounting and reporting functions for public companies.”

GMH, which specializes in military and student housing, recently completed its SEC filings for 2005 and the first quarter of this year, following an internal, independent investigation of its accounting practices. During an Aug. 11 conference call, Holloway said the second-quarter SEC filing would be completed “in a few weeks.” The REIT has formed a committee to evaluate alternatives, including a potential sale of the company.

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