Cumberland real estate firm hires new president and CEO
The parent company of the midstate's largest real estate management firm has named a new leader.
Lemoyne-based Rhodes Development Group Inc. has named Larry Kluger as its new president and CEO.
Kluger, the former president of Journal Multimedia Corp., former parent company of the Central Penn Business Journal and Central Penn Parent, replaces John Rhodes, effective Oct. 2. Rhodes is the founder of the company and will remain chairman.
"Larry has an excellent track record of success in business management and investment banking and we are thrilled to have him leading our team," Rhodes said in a statement.
Rhodes Development oversees the operations of Property Management Inc. in Lemoyne. As of the end of 2016, PMI was managing 224 properties with an annual rent roll above $165 million, according to Rhodes' website. The holding company also owns R&L Construction Co. and Capitol View Development Co. Inc.
Rhodes Development has about 300 employees.
Prior to joining the company, Kluger was a senior vice president of Murphy McCormack Capital Advisors, a middle-market investment banking firm.
Before that, he was president of Journal Multimedia from 2004 until its sale last year to New Media Investment Group. He previously led the turnaround of Winemiller Communications, a manufacturer of broadcast communications vehicles, microwave transmitters and related equipment. Winemiller was eventually sold to Prime Medical Services, which is now owned by Endo Pharmaceuticals.