Middleburg Communities Makes Two Strategic Additions to its Development Team

Hires Carlos Bonner as Managing Director to oversee the development of the Company’s portfolio in Georgia, Tennessee, and Alabama

Adds Ed Ault as Vice President and Director of Design to assist with site planning and design efforts

VIENNA, Va.--(BUSINESS WIRE)--Middleburg Communities (“Middleburg”) today announced it has made two strategic appointments to its development team, adding Carlos Bonner as Managing Director and Ed Ault as VP, Director of Design. Bonner will be tasked with leading the growth and development of Middleburg’s portfolio in Georgia, Tennessee, and Alabama. Ault will be responsible for assisting with the Company’s design efforts across its various markets.

“We are pleased to have two very experienced and highly successful professionals in Carlos and Ed join the Development Team at Middleburg,” said Selim Tay-Agbozo, President of Middleburg Development. “Carlos has demonstrated the ability to perform and deliver in all market cycles for some of the most respected names in the industry, while Ed has driven the design and creation of several multifamily and single-family prototypes, as well as mixed-use projects. They each possess the character, expertise and qualities we look for in new talent, and I have no doubt they will make an immediate impact in helping us achieve our development goals.”

Bonner is a seasoned commercial real estate and finance executive with a successful track record of driving returns and creating value for all stakeholders. He joins Middleburg with more than 22-years’ experience across multiple product types and industry functions including development, acquisitions, asset management, investor relations, and financial and risk analysis. He most recently served as Senior Vice President of Development Operations and Asset Management for Cedar Realty Trust, where he oversaw $700 million of AUM. During his distinguished career, in which he completed more than $1.2 billion of commercial transactions, he also held senior level positions with Jair Lynch Real Estate Partners, Terwilliger Pappas, Skanska Commercial Development, Hines Interests, LLP and other leading industry and financial institutions. Bonner will report to Tay-Agbozo and will initially work out of the Company’s corporate office before relocating to Atlanta in 2023.

Bonner stated, “It’s an honor to join Middleburg, a company that is widely respected amongst the investment community for its track record of producing consistently strong returns and delivering an exceptional living experience for tenants. There are a number of growth markets in Georgia, Tennessee, and Alabama in which the high-quality product Middleburg is known for is greatly needed, and I am excited to use my industry expertise to identify value-add development opportunities that will allow us to strengthen our foothold in these key Southeastern states.”

Bonner holds an MBA from The Wharton School of Business and a B.A. in Economics from Morehouse College. He is a board member of the Elsie Whitlow Stokes Public Charter School, CRYPS DC, Capitol River Front BID – Economic Development Advisory and ULI Placemaking Council.

Ault is a creative thought leader and design visionary with almost two decades of experience in multifamily and mixed-use development. Prior to joining Middleburg, he was an Associate Principal at Dwell Design Studio. He previously was Director of Design for AvalonBay Communities, where he managed the design process for a $3.5 billion pipeline of 60+ communities in various stages of development. He also served as a Project Architect for The Preston Partnership, where he worked on two multi-million projects including Archstone - Equity Residential Camp Springs in Maryland and Camden Dulles in Virginia. Ault will be based in Vienna and will report to Susie Maglich, Senior Vice President of Strategic Initiatives for Middleburg.

Ault commented, “I am thrilled to work for such an innovative and forward-thinking institution in Middleburg. I look forward to combining my skillsets with the best-in-class team here to positively contribute to the growth of the organization and our development initiatives.”

Ault received a Masters of Architecture and a B.A. in Studio Art from the University of Maryland. He is a Registered Architect and a frequent speaker at BondMulti, a forum for multifamily development and design leaders.

About Middleburg Communities

Middleburg is a leading investment firm maximizing value through a fully integrated approach to the acquisition, development, construction and operations of high-quality attainable rental housing. Since 2004, Middleburg has acquired and developed more than 22,000 apartment units, executing over $3 billion in transactions. The Middleburg team shares a vision for greater value creation through community impact. The firm’s success is rooted in a genuine desire to serve its local communities in thoughtful and holistic ways. Middleburg embraces people, property, and partnerships to enhance the lives of others, contribute positively to its neighborhoods and maximize real returns for partners. For more information, please visit www.middleburgcommunities.com.