PRESS RELEASE

FOR IMMEDIATE RELEASE

February 16, 2023

Contact: Jane McGrath

jane@libertysquaregroup.com

Beacon Communities Hires Christopher Reed as

President, Beacon Residential Management

Boston, MA — Beacon Communities, an industry leader in affordable, market and mixed income property development, today announced it has hired Christopher Reed as President of Beacon Residential Management, Beacon’s property management company. The hiring of Mr. Reed marks the end of a national search for a new president, following the departure of long-time leader Darlene Perrone.

Mr. Reed will be responsible for the overall strategic direction, operation, and profitability of Beacon’s property management company and real estate portfolio. As part of this work, he will be focused on the enhancement of resident satisfaction, resident services and employee engagement consistent with the mission of the company.

“We are absolutely delighted to welcome Christopher to Beacon,” said Samuel Ross, Beacon’s Chief Operating Officer. “His leadership and expertise will be key assets as we continue to expand and evolve our company.”

Bringing extensive knowledge and expertise to Beacon, Mr. Reed most recently served as Executive Vice President, Property Management at Mercy Housing Management Group, where he served as a senior leader for 15 years. While at Mercy, he provided management oversight of property management operations for an affordable residential portfolio of 330 communities, comprising 24,000+ units, in 20 states throughout the country. Mr. Reed previously held leadership roles at Equity Residential Trust, Lexford Residential Trust, and Lexford Properties, Inc. He holds several industry certifications, including the accreditations of CPM, NAHP-e, CPO, and SHCM.

“I am incredibly excited to be joining Beacon Communities at this important time in the company’s growth trajectory,” said Mr. Reed. “Beacon’s mission-driven approach to property management is something that I care deeply about upholding. I am honored to work alongside such a talented team, and am committed to developing and supporting a culture of excellence that benefits both our employees and our residents.”

Dara Kovel, Beacon’s Chief Executive Officer, noted, “We are thrilled to have Christopher join the Beacon team. His vision and leadership will propel Beacon to new heights as we continue to focus on our mission of creating quality homes across our growing footprint for residents at every income level while fulfilling our commitment to ensure Beacon is a great place to work.”

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About Beacon Communities LLC

Beacon Communities LLC is a privately owned real estate firm that develops, acquires, invests in, and manages a wide range of multi-family housing. Their portfolio includes affordable housing, market rate housing and mixed income housing. Their developments range from new construction, to historic adaptive reuse, to the renovation of existing housing. They take on challenging developments and make them succeed. Their driving passion is to create well-designed, healthy homes that improve the quality of life of their residents and enhance the neighborhoods in which they are located. For more information about Beacon Communities LLC please visit www.beaconcommunitiesllc.com.