Strategic Partnership Seeks Opportunities in Southeast
St. Petersburg-based Sembler Co. and Atlanta-based Berkley Development have formed a new venture to explore development opportunities in the Southeast.
“This partnership will allow us to work with an exceptional industry professional to better pursue other types of development and redevelopment – small power centers, urban redevelopment projects, even retail elements of primarily residential developments, as possible examples,” said Sembler CEO Ron Wheeler.
According to Berkeley chief Mike Cohn, his company will focus on deal generation, structuring, and anchor tenant procurement, while Sembler will apply “their construction, property management, shop space leasing, finance and accounting expertise to create best-in-class projects.”
Sembler has developed more than 330 projects totaling 27 million sq. ft. and currently leases and manages over 12.5 million sq. ft. in the eastern United States and Puerto Rico.
Berkley’s portfolio spans commercial and mixed-used developments and redevelopments throughout the Sunbelt states.