CINCINNATI-Dover Realty Advisors LLC, based in the Detroit suburb of Bingham Farms, MI, is expanding by adding an office here to focus on multifamily institutional asset and property management, including REO turnaround and receivership work. Principal Terry Schwartz has brought in Dan Schultz to run this office.

Schwartz, who left his post as president and COO of Village Green Apartments in 2000, says the new office is part of his move back to property management and receivership. Originally focusing solely on asset management, Dover’s property management group has seen a 50% increase in revenue growth in the past six months, with the group now running more than 6,5000 units.

This area was the best fit for expansion, he tells GlobeSt.com. “We wanted to capture mid-Ohio, as we’re already doing Toledo and Cleveland. This office will let us get into multifamily markets here and in Kentucky and Indiana,” Schwartz says.