Image from HiberniaTower.com
HRI Properties, Latter and Blum, Gardner Realtors all had booming growth in 2013.
HRI nearly doubled its revenues from $98 million to almost $200 million. The boost was the result of a plethora of hotel acquisitions that increased the company’s portfolio from 9 to 18. The acquisitions also boosted payroll from 800 employees to almost 1,400!
Latter and Blum increased revenues by 44%, from $67.7 million to $97.7 million.
Gardner Realtors went from $23.1 million to $28.1 million.
Favrot & Shane/1st Lake, a commercial and multifamily developer and manager, increased from $94.9 million to $103 million.
Stirling Properties also saw a jump from $11.9 million to $12.5 million. Stirling has been one of the most active developers in the past few years, with projects like the Magnolia Marketplace, Mid-City Market, and The Fremaux Town Center.
Its most visible commercial development projects in the past year include the Fremaux Town Center in Slidell and a co-developer’s role for Magnolia Marketplace in Central City. The former just launched its first phase, while the latter gained New Orleans City Council approval in January.
about the author: CSB Staff
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[…] HRI Properties wrapped up a 13-month, $57.3 million renovation of the 23-story structure in 2013. And now is your chance to hear from the developer and get a behind the scenes look at the building. […]
[…] HRI Properties has secured an investment from a New York investment group that it will use to fund future developments after doubling its income in 2013 from $98 million to $200 million. […]