UIP Establishes Multifamily Management Subsidiary

WASHINGTON, DC-Urban Investment Partners is establishing a residential property management subsidiary called UIP Property Management. The new subsidiary will manage UIP’s multifamily portfolio, which is about 760 units in UIP’s residential portfolio, as well as an additional 540 units previously managed by the locally-based firm Hagner Management.

In addition, the company plans to provide third-party rental property management and work for condominium associations throughout the DC metro area. The company did not return a call to GlobeSt.com in time for publication.

UPI has recruited several executives from Hagner as well for its new endeavor. David Barton is president of the new firm; he previously headed Hagner. Other top executives are David Yampolsky, who has moved from UIP’s main operation to be SVP of the new subsidiary. Also, Frederick Silvers, formerly of Bojan Realty of Capitol Hill, has joined as vice president for Operations and Maintenance.Other Hagner employees that have made the leap include KennethCunningham, vice president and property manager; Karen Wynn,accounting manager; and Steve Rill, associate property manager.With its staff of 16, UIP Property Management is taking space at3404-06 Connecticut Ave., N.W., later this month.