Richard has enjoyed a dynamic 35+ year career in the commercial real estate industry, largely focused on housing and mixed-use development throughout the eastern United States with a series of prominent commercial real estate companies. This has included the ground up development of more than 15,000 ultra luxury, workforce and assisted apartments valued in excess of $3.5 billion as well as $150 MM of for-sale housing with consistent profitability. In addition, Richard has a broad background in real estate financing transactions covering institutional joint ventures as well as construction and permanent financing with commercial banks, life companies and public agencies.
Having started his career with Oxford Development, Richard then joined a new start up, The Bozzuto Group at its inception in 1988. In additional to developing investment grade apartments, Richard led Bozzuto’s entry into the home building business in 1990 and oversaw development and sales of condominium, townhome and single family communities. Richard then led Pritzker Residential’s Mid Atlantic office, developing its residential portfolio comprised of ground breaking designs at the traditional neighborhood designed King Farm development as well as in town projects in Washington D.C. at the Park Hyatt and the 372 unit Mass Court in the East End. In 2004, he joined Equity Residential and guided its development program for the East Coast in central and south Florida, Washington D.C, New York City and Boston. During his tenure, Richard’s multi market teams undertook both joint ventures (as a provider of capital) and as direct developer over 30 ground-up developments at a cost in excess of $2.75 billion in addition to numerous land positions requiring entitlements and/or assemblages that were sold to third parties.
Following his retirement from Equity Residential in 2017, Richard has joined Ceres Capital Partners with long-time associate, Martin Kamm.