Local Real Estate Firm Acquires Hyatt Commercial
Gambrills, Md., January 8, 2021 – The Reliable Group, a full service commercial real estate firm recently formed under The Reliable Companies, has acquired and restructured Hyatt Commercial, a subsidiary of Severn Bank.
Hyatt Commercial, founded by Louis Hyatt in 1961, is a commercial real estate firm based in Anne Arundel County Maryland specializing in leasing, sales, and management of commercial properties in the Mid-Atlantic. Severn Bank acquired Hyatt Commercial in 2007.
Hyatt Commercial has now been restructured into two companies: Hyatt Commercial Property Management and Hyatt Commercial. Joe Brown was elevated to president of Hyatt Commercial Property Management and Justin Mullen was elevated to president of Hyatt Commercial. Alan Hyatt will remain with the company as a strategic partner.
In addition to Hyatt Commercial and Hyatt Commercial Property Management, The Reliable Group has three other firms under its real estate service business including Reliable Commercial Construction, Reliable Real Estate Services, and Chesapeake Fine Homes. Shannon Smith serves as president of Reliable Commercial Construction, a general contracting construction company. John Dixon serves as president of Reliable Real Estate Services, an entitlement and development company. Chesapeake Fine Homes is lead by Ben Borchelt and serves as a residential real estate and property management company.
Jay Baldwin, managing member of The Reliable Group said, “We are ecstatic to be bringing these businesses together. The history and depth of engagement within the community between these teams is phenomenal. We feel that we have comprised a strong group of partners to build an exceptional real-estate experience for all of our clients.” The Reliable Group looks to serve markets throughout the Mid-Atlantic and beyond.
About The Reliable Group The Reliable brand began in 1928 with two ambitious brothers, Frank and Bill Baldwin, and over the years has maintained a reputation as a leader in the construction industry. The Reliable Group is a newly formed full-service real-estate company with an ownership group made of experienced real-estate owners, builders and managers; prepared to provide services with unmatched expertise.