Wood Partners Taps Tony D'Alto to Head Property Management Group Wood Residential Services

ATLANTA, GA--(Marketwire - Jun 4, 2012) - Wood Partners, the nation's largest multifamily developer, announced today that it has named Tony D'Alto senior vice president of its Wood Residential Services (WRS) property management division.

Chief among D'Alto's duties will be building the Wood Partners brand at the property and resident levels. He will also be responsible for expanding the portfolio of Wood Partners properties managed by WRS, which currently stands at a dozen apartment communities nationwide.

"In addition to overseeing our properties and building our brand at the community level, I will also be working to bring more and more of our properties under the management of WRS," said D'Alto. "This will give us greater control over our own properties while establishing a consistent property management platform."

Executives at Wood Partners say they were particularly impressed with D'Alto's out-of-industry experience, which includes 25 years in the car rental business in senior leadership positions creating and implementing successful operational processes. In addition, he was able to apply that experience to his latest position at AIMCO, one of the largest owners and operators of apartment communities in the United States.

"Tony has an impressive list of career accomplishments to his credit and we are delighted to have him join the Wood Partners family," said Ryan Dearborn, chief executive officer of Wood Partners. "Based on his previous successes, I expect Tony to meet the property management challenges that lie before him head on and to achieve great things for our company."

Prior to joining Wood Partners, D'Alto was executive vice president of property operations at AIMCO where he had operational management responsibility for more than 1,000 properties totaling approximately 150,000 units across a full spectrum of asset classes nationwide, including $1 billion dollars in properties involved in redevelopment projects. During his tenure as head of operations, AIMCO achieved both record occupancy and tenant retention levels and company operating margins improved by over 300 basis points.

When he is not traveling to Wood Partners' properties across the country, D'Alto will work out of the company's offices in Delray Beach, Florida.

About Wood Partners
Wood Partners is a national real estate company that acquires, develops, constructs and property manages high density and mixed-use communities. Through quality construction, responsible land development and intelligent design, our communities reflect the aesthetic and social fabric of the community and provide a luxurious living experience at a fair price. The company has been involved in the development of more than 36,000 homes with a combined value of more than $4.5 billion nationwide. To learn more about Wood Partners, please visit our Web site at www.woodpartners.com