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NEW YORK CITY-The Spandrel Group, a property management firm, announced Monday it is venturing into development with the launch of a new division, Spandrel Development Partners. The unit will be helmed by Spandrel founder and CEO Ian Levine and his business partner, Emanuel Neuman, and will specialize in multi-family condominiums and rental properties in MSAs nationwide.

To start, SDP will source opportunities in select MSAs within North Carolina, South Carolina, Louisiana and Tennessee, according to the announcement. Those markets feature the type of growth that the firm is targeting, Neuman tells GlobeSt.com. “We put together an analysis of 388 MSAs and we found clusters of growth where manufacturing is coming back. We want to be in places where there’s a combination of manufacturing and technology growth,” and that’s featured in these states, Neuman says.

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