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(Read more on the multifamily market.)

ATLANTA-Locally based Lane Co. has hired Brian Record as vice president of risk management. The move comes as the multifamily real estate firm looks to increase its portfolio by 15,000 units over the next three years, which would more than triple Lane’s holdings.

With 20 years of experience in the risk management field, Record was previously with Sunterra Corp., an international developer and operator of vacation ownership properties, where he was responsible for risk management responsibilities, as well as acquisition, construction and new project design. Sunterra did not comment on the move. He previously served as the director of claims management for Harrah’s Entertainment.

“Brian’s extensive experience in both risk management and development will serve Lane Co. well as we continue on our growth path,” says Lane Co. CFO Derek Kahn. “He will be key as Lane Co. expands its development presence across the nation while increasing its acquisitions.”

Originally based in the Southeast, Lane Co. currently operates in Florida, the Southwest, Northeast and Mid-Atlantic regions. The company has been working to increase its multifamily holdings. The company hired Philip Pitney as president of Lane Investments LLC earlier in the year as part of its strategic plan to increase holdings.

The company plans to pursue acquisitions of value-add multifamily properties that need an infusion of capital; properties in recovering markets; as well as stable core properties well located in primary, secondary or tertiary markets. Acquisitions are expected in markets where Lane has a presence, such as the Southeast, Southwest, Florida, Northeast and Mid-Atlantic states.

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