Richard Alter, born and bred in Baltimore, has “developed in his own backyard” for almost 35 years.
“You?re your own time capsule,” said Alter, president and chief executive officer of Manekin LLC, a full-service commercial real estate firm based in Columbia.
“I certainly remember much of the metropolitan area from the perspective of my high school years in Baltimore in the late ?50s and early ?60s,” Alter said. “There is a satisfying element to having worked in my hometown.”
Alter, 63, has been Manekin?s president and CEO since 1987 and been with the firm since 1972.
Over the years, Alter has overseen the development of more than 10 million square feet of property throughout the Baltimore-Washington region. The portfolio ? which includes suburban, urban, flex, industrial and retail facilities ? is valued in excess of $750 million.
Alter has a law degree from the University of Maryland Law School, but he said law school taught him he didn?t want to be a lawyer. He joined Manekin, a family-owned business founded in 1946, as a real estate broker.
“I learned the real estate business from the sales perspective,” Alter said.
The company expanded to the point where AMB, a multibillion-dollar public real estate investment trust, acquired 50 percent interest in the operating company and 20 percent of the development portfolio. In 2002, Manekin principals bought out AMB and today own 100 percent of the company.
“Over the years, we?ve gone from having 15 employees to 10 times that number,” Alter said.
Alter still enjoys what he called “energizing” work ? the planning, the developing and the building.
“I don?t think there?s a retirement la-la land for me,” he said. “I?m at a stage of my life where the significant aspect is how we transfer the company from me to somebody who will eventually take my seat.”
Brenda Desjardins, a development consultant who runs New Home Marketing Services in Annapolis, has worked closely with Alter and Manekin for about four years.
“Richard listens to your information, and he?s extraordinary with making decisions and moving forward with action,” Desjardins said.
“You don?t stay a success in the real estate business without being able to manage and motivate people in both good and bad times.”
Richard Alter
First job: Loading trucks for local warehouse when I was about 15
Education: Political science degree from Brown University, law degree from the University of Maryland Law School
Daily e-mails received: About 50
Daily voicemails received: About 25, and it?s probably the best way to get a hold of me.
Favorite gadget: BlackBerry
Career objective: I?m proud that we?ve been able to expand the ownership opportunities of the company.
Essential Web sites: None, I can barely get through the newspapers and e-mails.
Hometown: Baltimore
Birth date: June 6, 1944
Original aspiration: None really, my father just wanted me to be a professional.
Sports/hobbies: I?m pretty much a workout junkie, I like spending time with my grandchildren and traveling when I have time.
