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MAY 20, 2011 - BREEDEN CO. LAUNCHES TWO NEW DIVISIONS

Breeden Co. launches two new divisions

 VIRGINIA BEACH, Virginia - (May 20, 2011) Ramon W. Breeden Jr., founder and CEO of The Breeden Co. in Virginia Beach, has launched two new divisions that will make the real estate company's construction and property management services available to other companies.

During its 45 years, The Breeden Co. has developed, built and operated in excess of 4,500 apartments with an additional 500 units scheduled to break ground this year, 2 million square feet of commercial shopping center and office space, and 1,700 residential homes.

Brian Revere, president of Breeden Construction, will lead the construction services division, and Barry Tomlin, vice president of Breeden Property Management, will lead the third-party management services.

"As proven experts in construction and management, offering these consulting services to other organizations is the natural progression," Breeden said in a prepared statement. "Barry and Brian have tremendous expertise and are proven business leaders. Offering these superior consulting services will deliver successful results to businesses."

Revere is a Virginia Tech graduate with more than 15 years of experience in the construction industry. In addition to the new division, he will continue to oversee the design, construction and pre-construction activities for all new multifamily and commercial projects at Breeden.

Tomlin will continue to be responsibile for overall customer service and property conditions of all multifamily assets owned and managed by The Breeden Co., in addition to his new duties. Tomlin, a Radford University graduate, joined Breeden in 2008 as regional director for Emerald Point Apartments,

Breeden employs 400 workers during peak building season and 250 at other times.

"We build a project on paper," Breeden said. "If the numbers work, we go out and build it in the field. We do the same thing in property management."

Breeden said he moved to Hampton Roads from Richmond to work for a mortgage company, United Mortgagee Servicing Corp. His boss there was Angelo Mozilo, the founder of Countrywide Financial; his name is strongly associated with the 2008 collapse of Wall Street.

When he launched his own company 45 years ago, Breeden started out building houses. His first was in the Alanton section of Virginia Beach and thereafter he built two to three a year.

"I paid a lot of taxes during the Jimmy Carter administration," he said, recalling that he worked out of the front seat of his classic Pontiac.

The goal of the company that owns and develops all its properties is to grow. It plans to construct 500 apartment units in Hampton, Isle of Wight and Virginia Beach. Plans include 276 units at Independence Boulevard and Baxter Road in Virginia Beach, to be named Cambria at Cornerstone, and 120 units in Hampton, to be named Briton Trace.

Breeden said all of the units will be constructed within six months.

Other projects are under negotiation, he said.

"We have two to three other projects that I can't name right now," he said.

The company owns and manages apartment properties in Fayetteville, N.C., and in Richmond where it also owns 120,000 square feet of retail properties. 

 

By Philip Newswanger, Inside Business The Hampton Roads Business Journal