Zalatoris, who left his position as an SVP with Maier & Seibel 11 months ago, now will be responsible for directing all aspects of asset management for Meridian including acquisition due diligence, property rehabilitation, repositioning, entitlement, construction oversight, leasing and general contractor/sub-contractor relationship management.

Zalatoris tells GlobeSt.com he took the job with Meridian because of the "unique opportunity to get in on the ground level of a start-up," especially one founded by George Marcus of Marcus & Millichap and Essex Property Trust fame. "If we can be as successful as his sister companies it will be a wonderful situation," says Zalatoris. "He wants us to grow very quickly."

Meridian's primary business strategy is to realize value added opportunities in the $5 million to $20 million range, and then redevelop, renovate or rehabilitate the existing structures as necessity requires to create profit-generating assets. Zalatoris says the company begins well capitalized and will not tie up properties while seeking equity partners.