Hogan Companies Land Sales Volume Triples - Revenues Up 80%
Larry Hogan, President and CEO of the Hogan Companies, the leading land firm in Maryland, announced today that in 2011, land sales volume for the company more than tripled and revenue for the firm was up 80% over 2010.
In spite of continuing global economic struggles, and an extremely challenging environment for the real estate industry nationwide, the Hogan Companies closed out 2011 with some very strong economic performance numbers. Incredibly, given the market conditions, land sales volume for the company more than tripled in 2011 with a more than 230% increase. Company-wide, across all profit-centers, the Hogan Companies showed an 80% increase, year-over-year, in gross revenues from 2010 to 2011.
“The real estate market over the past few years has presented some interesting challenges but, out of adversity also comes opportunity. We focused on distressed assets and found opportunistic investments. We adjusted our focus and our game-plan and paid close attention to where our services were most needed. We capitalized on our diverse capabilities and found successful market niches.” said Hogan, who founded the Annapolis, Maryland based firm.
The Hogan Companies successfully closed significant transactions in every single region of Maryland. Numerous deals were settled in the Baltimore-Washington Corridor, and Central Maryland, also in Western Maryland, on the Eastern Shore and in Southern Maryland as well. In addition to the largest deals done in Prince George's and Dorchester Counties, much of the volume of the Hogan Companies activity for 2011 took place in Anne Arundel, Baltimore, Harford, Frederick, Worcester and Calvert Counties. In 2011 alone, the company handled the acquisition and disposition of retail, office, industrial and mixed-use properties, as well as developable land containing nearly 5,000 potential residential units.
The Hogan Companies are leaders in brokerage, consulting, investment and development of real estate throughout the Mid-Atlantic region. The firm has been involved in more than 40,000 acres of ground and has completed more than two billion dollars in real estate transactions.
2661 Riva Road
Annapolis, MD 21401
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