Luxury multifamily firm The Bainbridge Companies, recently hired five members to its executive team in support of its growth initiatives in the Mid-Atlantic region.
Bainbridge brought on Christopher Phillips as chief financial officer; Heidi Jehlicka as senior vice president of marketing and employed development; Mark Stewart as senior vice president and chief investment officer; Travis Bean as financial analyst; and Jeffrey Smith as recruiting manager.
"The last two years have been significant for The Bainbridge Companies as we eclipse the 23,000-unit mark and made significant moves to further solidify our development, operational and construction processes," Bainbridge Executive Vice President and Chief Operating Officer Kevin Keane said in a statement.
"We project significant growth in the next five years and believe the recent additions and promotions within our executive staff will further help the company thrive and bring best-in-class luxury communities to apartment residents along the East Coast," Keane added.
The Washington D.C. metro area, Raleigh, Charlotte and Atlanta are all areas exhibiting dynamic job growth and all of which are on Amazon’s shortlist for HQ2. The New York Times opined that Northern Virginia checks the most boxes for Amazon, so Bainbridge’s decision to bolster its East Coast operations looks like a smart move in light of economic conditions and a good bet for the near future as Amazon looks to announce its pick by the end of the year.
As the single-family industry struggles to prop up sagging originations and fight low inventory, resulting in a tough season full of layoffs, the multifamily industry appears to be running strong.
The ability of firms to hire for growth is a good indicator that things are going swimmingly in the multifamily industry.