MCB Real Estate has acquired Pinkard Properties, a Hunt Valley-based property management firm, to help oversee its expanding real estate portfolio.
MCB announced this week that Pinkard’s 14-person team will become part of MCB and that co-founder Katherine Pinkard has been named Senior Managing Director, Property Management, for MCB.
MCB is a privately-held institutional investment management firm that controls approximately 15 million square feet of real estate nationwide, including the Harborplace pavilions at Pratt and Light streets in Baltimore.
MCB’s current property management division leader, Marty Lastner, recently announced plans to retire. Lastner began his career with The Rouse Company, working at Harborplace, and has been in the real estate business for more than 30 years. Terms of the acquisition were not disclosed.
The acquisition underscores MCB Real Estate’s decision to strengthen its in-house property management team as it increases its holdings. Over the past two years it has acquired more than $600 million worth of real estate, including properties in California, Illinois and New Jersey within the last six months. Company officials say they are actively pursuing opportunities to add even more industrial, mixed-use, multi-family, retail, science and health-focused properties.
“The opportunity to join forces with a highly-regarded asset and property management team perfectly aligns with our short- and long-term goals,” said MCB President Gina Baker Chambers, in a statement. “Asset and property management is fundamentally a people-first business built on strong relationships. With Katherine Pinkard and her team, we are gaining a group of seasoned property managers, engineers, maintenance, and operations professionals with deep expertise. By integrating them into our expansive network and leveraging our robust resources, we are strengthening our foundation for sustained growth and delivering greater value to our clients and communities.”
The Pinkard family
Katherine Pinkard is now the second member of the Pinkard family to have a top position at MCB Real Estate. Her uncle, Peter Pinkard, co-founded the company in 2007 with P. David Bramble and both are managing partners.
Katherine Pinkard and her father, Greg Pinkard, founded Pinkard Properties in 2012. Greg Pinkard is Peter Pinkard’s brother. According to MCB Real Estate’s announcement, Greg Pinkard will serve MCB Real Estate in an advisory role.
The Pinkard family has been active in the real estate business in Maryland for more than a century. Peter and Greg’s grandfather, W. C. Pinkard, founded W. C. Pinkard & Co. in 1922 and passed it on to his son, Walter D. Pinkard. In the 1970s. Walter D. Pinkard Jr. took over. Another Pinkard brother, Bob, went on to lead a prominent real estate firm in Washington, D. C.
Katherine Pinkard is a fourth-generation family member to work in the real estate business in and around Maryland. Before its acquisition by MCB Real Estate, Pinkard Properties provided asset and property management services for approximately two million square feet of commercial office, flex/office, warehouse/industrial, and retail space.
‘Our next chapter’
“When launching Pinkard Properties, we saw the opportunity to fill a niche in the local region,” Katherine Pinkard said in a statement. “Global firms were on one end of the spectrum and local operators were on the other, without many options in between. Our goal has always been to provide institutional-quality service while maintaining the local and intimate touch needed to nurture relationships and provide highly-personalized, nimble solutions. Property management is about more than buildings — it’s about people, service and accountability. We successfully thrived in a highly-competitive environment and are now ready to write our next chapter with MCB Real Estate.”
Joining forces with MCB Real Estate will provide new challenges for her team, Katherine Pinkard added in her statement.
“I absolutely adore my team and respect their passion, talent, and drive,” she said. “To attract and retain talent in this industry, it is critical to provide new challenges and opportunity for growth and advancement. Teaming up with MCB feels like stepping into an all-star lineup, with the chance to collaborate with the industry’s best and brightest, while being engaged with high profile and multifaceted properties located around the country.”
