Tina Guziec, VP of operations, will head the new division, Lerner tells GlobeSt.com. Guziec has been with MCZ for 10 years. The new division will offer sales, marketing, development and construction services in addition to evaluations, financing and property management. The division will also help with the conversion of apartments to condominiums. "It is just an outgrowth of other stuff we are doing," Lerner says.

His company has 3,000 units under management for companies who have acquired MCZ developments, he says. Late last year, the company formed MCZUrban, a division which focuses on loft developments in major cities, as previously reported by GlobeSt.com. The company has more than 3,500 units in development and has a $1.6 billion portfolio with properties in Alabama, Arizona, Florida, Missouri, New Jersey, New York, Tennessee, Kansas and Washington, DC.