Bresler & Reiner Inc. / BRER

About Bresler & Reiner Inc.

11200 Rockville Pike, Suite 502, Rockville, Md. 20852
www.breslerandreiner.com | 301-945-4300 | Founded: 1970

Industry: Real Estate | Category: Public Companies

The news was good for one of the company's best-known projects, the Waterside Mall in Southwest, which it built in 1964. The buildings have become tired-looking, and Bresler & Reiner, with its partners Charles E. Smith of Arlington and Forest City Enterprises of Cleveland, plans to spend $800 million to redo the project, which will be renamed Waterfront. They plan to build a 2.1-million-square-foot, mixed-use development of offices, shops, restaurants and housing on 13 acres at Fourth and M streets SW, at the Waterfront-Southeastern University Metro stop. The project is to be built over the next decade and still needs planning and zoning approvals.
The project is a major part of the District's plan to clean up the Southwest and Southeast waterfronts.
The partnership's development plans hit a snag two years ago when Fannie Mae decided not to locate its major offices there. The partnership recovered last December when the D.C. government agreed to pay $14.2 million annually to lease 500,000 square feet in two buildings for the Office of the Chief Financial Officer and the Department of Consumer and Regulatory Affairs.

2006 Financial Data

Revenues: $103,303,000 | Net Income: $16,329,000
Asssets: $860,135,000 | Earnings Per Share: $2.98
Stockholder Equity: $141,845,000 | Annual Dividend: $0.30
Total employees: 28 | Local employees: 27