Citybiz Interview with Kory Geans, Chief Investment Officer at Middleburg Communities

Over the past 5 years that Kory Geans has been with Middleburg Communities he has been a key driver of the financial and operational growth of the firm. Mr. Geans has been an integral visionary and influence behind the expansion of the investment management, asset management, development, and acquisitions verticals in order to reposition Middleburg as an institutional real estate investment firm. In doing so, he has been responsible for overseeing more than $250 million of equity investments across the firm’s multifamily development and acquisition strategies throughout the southeastern United States and Texas.

During Mr. Geans’s tenure and through his extensive efforts, the Middleburg portfolio has grown to include nearly 4,000 new units and over $650M of value across development and acquisition projects in the Southeast United States. The majority of these development projects fall under Middleburg’s Single Family Rental development strategy for which Mr. Geans helped secure a $500M programmatic joint venture partnership in 2020 to develop more than 6,000 SFR units over the next three years.

Mr. Geans also helped raise and deploy Middleburg’s first fund in 2019, the Middleburg Workforce Housing Fund, which was formed to help tackle the nation’s housing affordability crisis. Through a $120M capitalization, the fund has acquired and substantially rehabilitated 1,374 distressed residential units in Atlanta GA and Louisville, KY, which Middleburg now manages and leases at rents affordable to middle-income residents qualifying at 80% or below Area Median Income.

Interview questions:

Introduction |Can you provide an introduction to Middleburg Communities? How many apartments, footprint, capital commitment

Role | As Chief Investment Officer, what are your primary responsibilities?

Recent Projects | Can you highlight some of Middleburg’s recent projects? Huntsville, Richmond, Raleigh-Durham & Jacksonville

Build-To-Rent | What is the Hamlet SFR initiative? How many units are you building? Which cities/markets will the Hamlet Home program be focused on?

Q1 2021 | Can you provide some highlights from the Southeast and Mid-Atlantic Markets Report?

Research | How do you use your proprietary research and data analysis to identify market opportunities? Where do you see opportunities?

Career | Prior to Middelburg Communities, your career included stints at Parmenter Realty Partners and Grosvenor. Please tell us about your career and the decision to join Middleburg Communities

Trends | What are some of the important trends? How is Middleburg capitalizing on them?

Connect with Kory on LinkedIn

Recent news:

Middleburg Poised to Start Construction on Hamlet Home Rentership in Huntsville, Richmond, Raleigh-Durham & Jacksonville
Middleburg Communities Welcomes New Team Members in Construction Group
Middleburg Communities Welcomes New Team Members
Mosby at Riverlights Opens for Leasing
MidHudson Provides $24.5 Million in Preferred Equity for Trophy 322-Unit Couture Tower in Milwaukee

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