At the end of this year, Hayden will hand Beacon's management to two veteran execs along with a third principal. Beacon will handle the brokerage activities for Hayden's new firm.
"This is a transition that has been in the planning for nearly two years," Hayden tells GlobeSt.com. The companies are co-located at Eight Tower Bridge. "We're moving next door and cutting a hole in the wall," Hayden says. "You don't just walk out of the brokerage business. I, and especially my son, have established brokerage relationships, and we'll work with Beacon to maintain that brokerage presence."
Tony Hayden Jr. joins his father in the new company. Joe Linaugh, former CFO of locally based E-Money Advisors, which recently merged with Commerce Bank, joins the new Hayden firm as CFO. Steve Flynn, a former partner of Snyder Capital and co-founder of SpectaGuard Inc., also joins the firm to oversee assets in its portfolio. Flynn sold SpectaGuard to King of Prussia-based AlliedBarton Security Services in 1998.
Hayden says the new company has two deals under contract, but is declining to provide details prior to their closings. One is the acquisition of a 250,000-sf office/flex complex in Chester County, he says. The other is a joint venture with the developer of a planned age-restricted community, also in Chester County.
Meanwhile, John Greenwald and Gene McHale, who have been with Beacon since its inception in 2002, along with Mike Flynn, who recently joined, will be Beacon's principals. Flynn has 25 years of real estate experience, most recently with the Wilmington, DE-based Commonwealth Group.
McHale credits Hayden with Beacon's growth. The addition of Mike Flynn and other new hires "have given Beacon capabilities it never had before," McHale tells GlobeSt.com. "The additions strengthen our presence in the marketplace and accelerate our ongoing evolution from a brokerage house to a full-service real estate firm."
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