Tim Newman, former head of the Charlotte Regional Visitors Authority, has been hired to lead asset management for Levine Properties.
Newman’s initial focus will be Levine Properties’ multifamily portfolio. He led the CRVA from 2004 to 2012.
“Tim is tailor-made for this role that requires the rare mix of finance, commercial real estate and marketing expertise,” said Levine Properties’ president Daniel Levine. “I am thrilled someone of his caliber is joining our team to help us manage our multi-family portfolio and plan for growth in all areas of the company.”
Levine said growing the firm’s portfolio of apartments – currently just over 1,000 units – is a priority. Levine properties has about 550 apartments under construction or development now, and Levine predicted they can grow rapidly.
“We are very bullish on mixed-use developments and multifamily,” said Levine. “It appears there’s going to be good runway with the economy and Charlotte in particular.”
Levine Properties’ development portfolio includes a 264-unit apartment building wrapped around a parking deck adjacent to First Ward Park, currently under construction. The company is also developing a second phase of the recently opened Julien apartments on Commonwealth Avenue. The company owns dozens of of largely undeveloped acres uptown in First Ward, where it is planning to develop a dual-branded hotel and an office tower next to UNC Charlotte’s building, as well as selling other parcels for more development.
Levine said final plans for a mixed-use development with retail and about 200 apartments at Providence and Fairview roads are coming together, with City Council considering an amended site plan. That development could break ground this spring.
“Having worked with Daniel Levine as a client and colleague for the past 15 years, I jumped at the opportunity to help bring his vision for various Charlotte neighborhoods to fruition,” said Newman. “This is the perfect fit for me both professionally and personally.”
Newman graduated from UNC Chapel Hill and earned an MBA from Columbia Business School. His most recent position was as business development manager for MSS Solutions.
“He’ll help us bring some real sophistication to how we own, manage and operate our real estate,” said Levine.