Alphabetical List

Richard S. Frary

(978) 720-7500
138 Conant Street · Beverly, MA 01915
In 1990 Mr. Frary founded Tallwood Associates, Inc., based in New York City. Since 1994, Tallwood has acted exclusively as a real estate and real estate company investor since then.

Starting in 1995, Frary co-founded Brookwood Financial, Ansonia Apartments, European Property Investors and Southstar Communities. In addition, Frary has originated numerous property owning partnership/LLCs in the apartment, land and community development, hotel and homebuilding businesses with a variety of partners.

Ansonia Apartments, Inc and its affiliates own over 5,000 apartment units in Connecticut, Florida, Texas, Virginia, Maryland, Tennessee and Texas. In addition, Frary has invested with Tritec Real Estate in developing 500 apartment units in Washington, DC and Patchogue, NY; and with The Hill Companies in developing or acquiring 2,000 apartment units in multiple locations in California, Washington, Colorado and Arizona.

Other Hill Company properties include office, mixed use and retail properties in San Francisco and Sacramento.

In Texas, Frary is active in the community development business through Southstar Communities, which owns six active communities in Dallas, San Antonio, Austin, College Station and the Texas Hill Country with 5,000 lots remaining to be sold. Southstar Communities sells lots to homebuilders and retail lots to individuals who want to build custom homes. Through Southstar Development,a related entity, Frary has two other large-scale communities with 4,000 lots remaining to be sold to homebuilders in Dallas and South San Antonio.

Other developments with Tritec include a large mixed-use community in Loudon County that is zoned for 6.7 million square feet and includes 1,400 apartments that is currently under development, a completed $100 million mixed use project consisting of multifamily units as well as retail and office in Patchogue, NY, as well as existing office buildings and industrial projects in Nassau and Suffolk Counties including a $108 million office sale-leaseback in North Hills, NY. where construction will commence in January, 2015.

European Property Partners has been active in Paris since 1997 owning office, industrial and apartment properties with institutional investors.

For 11 years prior to forming Tallwood, Mr. Frary was head of Real Estate Investment Banking at Drexel Burnham Lambert and was an Executive Committee Member. During his Drexel tenure Mr. Frary completed over $10 billion of public and private financing and $5 billion of restructurings for real estate companies.

Mr. Frary's other interests include serving on the Boards of Lexington Realty Trust and Nexus BSP Resources. Frary remains active at Johns Hopkins University where he served as Vice-Chair of the Board, and still serves as Chair of the Sheridan Libraries Advisory Board and as an Emerti Trustee. In addition, Mr. Frary is active at the New York Historical Society, serving on their Library Committee.

Mr. Frary is a 1969 graduate of The Johns University with majors in Psychology and Economics and a 1971 graduate of The Harvard Business School where he majored in Finance. Mr. Frary also took courses in accounting, taxation and law at Northwestern University's Business School and Law School and became a New York CPA in 1973.