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PETER BONNELL AND HEATH WILKINSON NAMED MANAGING PARTNERS OF THE UIP COMPANIES

The UIP Companies, Inc. of Washington, DC has two new full managing partners: Peter Bonnell, Senior Vice President of UIP Asset Management, and Heath Wilkinson, President of UIP General Contracting.

They are the first full partners to join company founders Steve Schwat and Wout Coster. Mr. Bonnell, who has been with UIP since 2004, will continue to focus on acquisitions and asset management. Mr. Wilkinson, who joined UIP in 2007, will continue growing UIPGC’s third party business relationships and providing general contracting services for UIP development and renovation projects.

The UIP Companies, Inc. owns UIP Asset Management Inc., UIP Property Management Inc., and UIP General Contracting, Inc.

“We are delighted to finalize a transaction that we have discussed for a long time and which we believe will lead to greater growth for the firm,” said Mr. Schwat. “Succession planning is an important part of any firm and we believe that having this plan in place will alleviate any potential future concerns on the part of our clients and investors as senior leadership begins to move on.”

Added Mr. Coster: “Steve and I have enjoyed our partnership with Heath and Pete for a long time; it was time to make it formal and allow the firm to grow beyond its founding partners and ensure continuity. This is a great move forward for the firm.”

UIP manages approximately 3,000 apartments in Washington, DC and has renovated and restored more than 20 apartment buildings over the last eight years. UIP’s primary focus is working with tenants in DC and helping them exercise their TOPA (Tenant Opportunity to Purchase Act) rights as well as entitling land and developing new projects.  While UIP’s primary focus has traditionally been in the District, the firm invests opportunistically in Washington’s Maryland and Virginia Suburbs. For more information, visit www.uipllc.com.