ALCO Management Adds Development Vice President.Business Editors MEMPHIS Memphis, city, ancient Egypt Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn.--(BUSINESS WIRE)--March 20, 2002 ALCO Management, Inc. today announced the appointment of Robert D. Hyde to the newly-created position of vice president for development. Hyde joins ALCO from the law firm of Farris, Mathews, Branan, Bobango & Hellen, PLC, where he was a partner and had served as outside counsel for ALCO for approximately five years. A member of the Memphis, Tennessee For the ancient Egyptian capital, see . Memphis is a city in the southwest corner of Tennessee, and the county seat of Shelby County. Memphis rises above the Mississippi River on the 4th Chickasaw Bluff just below the mouth of the Wolf River. and Mississippi Bar Associations, Hyde received his bachelor's degree in accounting and his juris doctorate from the University of Mississippi The University of Mississippi, also known as Ole Miss, is a public, coeducational research university located in Oxford, Mississippi. Founded in 1848, the school is composed of the main campus in Oxford and three branch campuses located in Booneville, Tupelo, and Southaven. . A native of Jackson, Mississippi Jackson is the capital and the most populous city of the U.S. State of Mississippi. It is one of the county seats of Hinds County; Raymond is the other county seat. As of the 2000 census Jackson's population was 184,256. , he is a certified public accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. . Hyde will remain of counsel to the Farris, Mathews law firm. At ALCO, Hyde will be responsible for identifying and analyzing possible property acquisitions, and for reviewing the company's existing portfolio of apartment properties for potential refinancing Refinancing An extension and/or increase in amount of existing debt. opportunities, capital expenditure needs, or prospective sales. He will also identify and negotiate with investment partners and other sources of equity capital. Frank Z. Jemison, Jr., ALCO president and chief executive officer, said, "Our firm has grown significantly in recent years, and we see the current economic environment as conducive to the possible acceleration of that growth. Having worked closely with Robert over the past several years, we wanted to utilize his insight and experience on a full-time basis in order to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the opportunities we see in today's market. We are confident that his leadership in this new position will produce solid results for our company and our investment partners." Memphis-based ALCO Management, Inc. is a privately-held real estate firm specializing in the development, financing and management of conventional and government-assisted apartment communities for more than 25 years. ALCO currently owns and/or manages nearly 8,000 apartments at 73 locations in 10 Southeastern states. A photograph of Mr. Hyde is available on request. To obtain one, e-mail mimihall@aol.com. |
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