BALTIMORE–(BUSINESS WIRE)–Alex. Brown Realty has announced the retirement of John M. Prugh.
Mr. Prugh, who for the past two years served as Senior Advisor to the firm, was with ABR for almost 46 years, serving as President and CEO since 1984. Under his leadership, ABR-sponsored investment programs acquired several hundred properties. Mr. Prugh was responsible for expanding the firm’s client base from individual investors to include endowments, foundations, pension plans and other institutional investors. In a note to employees, Mr. Prugh commented that, “Holding the interests of our clients to be paramount was our guiding principle and remains the framework for long-term success. Serving the firm has been my life-long privilege.”
In addition to his role at ABR, Mr. Prugh has held many leadership positions within the Baltimore community. Mr. Prugh will continue to serve as Chairman of the Board for the University of Maryland Baltimore Health Sciences Research Park (UMB BioPark), as a Member of the Board of Trustees of the Baltimore School for the Arts, and as Treasurer and a Member of the Board of Directors of WYPR (Baltimore’s NPR affiliate). Mr. Prugh has also served as a Member of the Advisory Board of the MSRE Program, Carey Business School at Johns Hopkins University.
Executive management responsibilities for ABR have been assumed by Thomas R. Burton and Edward P. Nordberg, Jr. “The firm has an experienced team in place, and I am confident that under Tom and Ed’s direction ABR will continue to deliver outstanding results for our investors,” said Mr. Prugh.
Alex. Brown Realty is an independent real estate investment manager specializing in value-add, opportunistic, and core-plus investments in the middle market. The firm was founded in 1972 by the partners of Alex. Brown & Sons, a Baltimore-based investment bank organized in 1800. Since the inception of the firm, ABR has acquired over $4 billion of assets, representing nearly 400 transactions. ABR has sponsored six real estate funds. The firm is an SEC-registered investment advisor. www.abrealty.com