The Barrington Group, Inc. (BGI) has been a key player in the multifamily housing sector since its founding in 1974. The company, established by Larry Lieberman and his father Richard, began by acquiring and renovating distressed apartment communities during a recession in the mid-1970s. Initially known as the Rallie Company, it was rebranded to The Barrington Group after Richard sold his stake to Larry. Over the decades, the company has evolved, expanding its portfolio to manage approximately 8,000 units across the United States and acquiring around 21 properties by the mid-1990s.
BGI works closely with Metzger and Company, a construction and development firm, to revitalize severely distressed properties. This collaboration has garnered BGI multiple awards for excellence in rehabilitation and management, including two “REHAB of the YEAR” awards from the Indiana Apartment Association. The company's headquarters moved to Sarasota, Florida in 1996, reflecting its foresight into the state's multifamily development potential.
As BGI's real estate portfolio matured, the need for property modernization became evident, leading to extensive upgrades for competitiveness against newly constructed units. By the early 2000s, BGI embarked on new development ventures, including designing modern townhomes and luxury condominium projects tailored for Baby Boomers, highlighting a shift towards long-term leasing options.
One notable achievement in BGI's history is the acquisition of over 300 acres of waterfront land on Sarasota Bay, which faced delays due to the 2008 recession. However, in 2020, construction finally began on the planned condominiums as approvals were secured with a new partner. BGI employs specialized programs like ReFresh, aimed at enhancing the performance of underperforming assets, and ReNew, a complete restoration initiative for neglected properties, ensuring that they remain competitive in the marketplace.
With a commitment to integrity, excellence, and long-term success, The Barrington Group continues to adapt and innovate, focusing on sustainable growth and the enhancement of its multifamily housing portfolio.
