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Wallick and Hendy Merge for 12,000 Units

COLUMBUS-Cincinnati-based Stern Hendy will join Wallick's development team, and brings about 4,000 affordable housing units for Wallick Cos. to manage.

By Robert Carr | Updated on November 06, 2008

COLUMBUS-Two multifamily firms, the locally based Wallick Cos. and Cincinnati-based Stern Hendy Properties, have merged. The new firm, under the Wallick umbrella and led by Wallick CEO Tom Feusse, will have a affordable housing property management portfolio of 12,000 units in the Midwest, including properties in Ohio, Kentucky, Illinois, Indiana and Wisconsin.

The main firm will be split into three companies with about 765 employees: Wallick-Hendy Development (project development), Wallick Construction and Wallick-Hendy Properties (property management). David Hendy and his son, Brian, will join the development arm of the firm. “We haven’t sorted out their titles yet,” Feusse tells GlobeSt.com. “We were limited to what we could do on the development side, and we are strong on the property management side, where they lacked depth.” Hendy brings 4,000 units of property management to the company, Feusse says.

In a statement, Dave Hendy said he looked forward to joining Wallick. “The opportunity for Brian and I to once again fully focus on development is something we have wanted,” Hendy said. Neither company would divulge the merger cost.

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