Wood Partners Announces the Departure of Leonard Wood Jr., Director of the Company's Mid-Atlantic Region

VIENNA, VA--(Marketwire - Mar 6, 2013) -  Wood Partners announced today the departure of Leonard Wood Jr., director of the company's Mid-Atlantic Region and son of its founder, who will be returning to his hometown of Atlanta for personal reasons.

Leonard Wood Sr., who started Wood Partners with two partners in 1998 and now serves on its board of directors, said he consulted with his son about the decision, which was a difficult one given the family ties to the company.

"I respect my son's decision to resign his position with Wood Partners to come closer to home," he said. "Unfortunately, there was not a suitable regional partner position available at our Atlanta office. We all will miss him and wish him well in his new career. I am confident that whatever Leonard undertakes, he will be successful."

Leonard Wood Jr. joined Wood Partners in 2003 as a Development Associate in the Washington, D.C. office after obtaining an MBA degree with an emphasis in Real Estate and Finance from the University of North Carolina's Kenan-Flagler Business School. Four years later he became the regional development director for Wood Partners in the Mid-Atlantic Region, which includes Virginia, Maryland, Delaware, Pennsylvania and Washington, D.C.

"After almost 10 years with Wood Partners, it is not easy to leave behind such an exceptional group of friends and colleagues," said Leonard Wood Jr. "We've all been through a tumultuous real estate cycle together, and we successfully brought Wood Partners through the storm and back to its peak level of performance today. I feel honored to have worked with such an impressive organization."

"Now it's time for me to move on and come home to be closer to my family and, in particular, my mother, who is recovering from her second major surgery for a rare form of abdominal cancer," he said.

The current team in charge of the Mid-Atlantic Region will remain in place and be taking on greater responsibilities within the organization, said Ryan Dearborn, Director and CEO of Wood Partners.

"This change creates an exceptional opportunity for current Wood Partners directors to step up and assume a more prominent role in our company's growth," he said.

Wood Partners now has four apartment communities in the mid-Atlantic region and plans to develop four more this year.

About Wood Partners

Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. In May 2012, it was ranked the nation's No. 1 multifamily developer with 3,750 unit starts. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the development of more than 40,000 homes with a combined value of more than $5.5 billion nationwide. Its national portfolio currently contains almost 20,000 apartment rental units. Wood Partners has offices in 16 major markets nationwide including Atlanta, Baltimore, Delray Beach, Boston, Charlotte, Dallas, Denver, Houston, New York, Newport Beach, Orlando, Phoenix, Raleigh-Durham, San Francisco, Seattle, and Washington, D.C. To learn more about Wood Partners, please visit our Web site at www.woodpartners.com.