Real Estate Industry Veterans Launch Murn Management

Two real estate industry veterans – Keith Gillan and Severna Park resident Megan Pugh – have joined with the president of Maryland-based Murn Development, Chris Murn, to form a new property management company, Murn Management.

Locally owned and operated, Murn Management will provide developers and asset owners with an unparalleled level of sophistication and service that can’t be expected from other regional providers. The team’s focus will be creating partnerships with property owners looking to maximize cash flow and long-term asset preservation. Murn’s pipeline is composed of more than 1,000 units of new development, and the team is aggressively pursuing acquisition opportunities.

“In partnership with Murn Development, Murn Management will be positioned to provide property management services for all phases of the development life-cycle, from design, development, financing, and construction management to pre-opening, leasing and property management,” said Murn, who will serve as managing partner of the newly launched firm. Murn has a vested interest in the communities in which he serves, and he recognized an opportunity to address an underserved market.

Like Gillan and Pugh, Murn previously worked with The Bozzuto Group, where he served as a land acquisition manager overseeing the development of six award-winning townhome and apartment projects in just four years. With more than 20 years of real estate experience, Murn established Murn Development in 2004 and has since overseen the successful development of more than 1,300 Class A multi-family apartment homes throughout Maryland.

Gillan, Murn Management’s president, was previously responsible for client and owner relations, brand alignment and financial performance of more than 50 apartment and mixed-use communities consisting of nearly 13,000 apartment homes. Gillan also assisted with business development and pre-development advisory services in both the Maryland and Pennsylvania markets.

Pugh, who will serve as senior vice president of Murn Management, has more than 15 years of portfolio management expertise with Class A properties in the Baltimore-Washington corridor. With a track record of building exceptional management teams, Pugh has been instrumental in the success of all aspects of property management, from predevelopment and renovations to marketing, mixed use and lease-up.

According to Gillan, Murn Management will differ from other property management firms by focusing on long-term engagements, and “will also be focused geographically, managing projects located in the Baltimore-Washington corridor.”

Murn Management is currently managing Creekstone Village Apartments in Pasadena, consisting of two phases, totaling 349 units. The second phase is currently under construction and expected delivery is the third quarter of 2016. The firm also anticipates hiring a number of new employees in all facets of the organization, including site level and corporate positions, as their portfolio expands over the coming months.

For more information, visit www.murnproperties.com.