Bruce Milam


B.A., MA

Senior Vice President

License #0225046483

About

Professional Summary

I'm a member of both the Multifamily and Land teams.   My primary role is to use my contacts within the apartment building industry to market for sale apartment buildings and land suitable for the development of apartments.  The properties could be in classes A, B or C; they might be market rate, active adult, or affordable. I also have experience in working for the developers of AL/AZ communities to locate suitable sites within the Commonwealth of Virginia for development.  I find the Multifamily industry exciting because there's such a demand for higher density and more affordable housing today, reducing the jurisdictional and environmental costs of urban sprawl.  I also enjoy working with developers because they are tasked with creating communities from raw land and I get to be involved with that process, usually in the site selection and sometimes as an advisor.

Accomplishments

I'm a licensed broker of 38 years representing the interests of both sellers and buyers.  But I also have had 17 years of experience developing suburban properties in Northern Virginia and Richmond, so I know the process and the challenges inherent in real estate development.  I've been the Top Producer in my firm on one occasion and regularly among the top producers annually, and I was elected as a shareholder in 2006.  I've won the GRACRE Award for the "Best Multifamily Sale" as recently as 2017, and named by CoStar as a "Power Broker" for the year ending 2016 & 2017.  I take a lot of pride in team building within the firm and mentoring younger brokers.

My greatest accomplishment for the multifamily industry as a whole has been as founder of the Multifamily Council within the Homebuilders Association of Richmond (HBAR).  That group consists of developers and associated companies who have the principal role of building apartments in the City of Richmond.  We have grown from zero members to more than 60 in the four years of our existence, and we are recognized as the voice of the industry within the City and model for similar programs across the country.  HBAR awarded me their presitigious "Guy B Hazelgrove, Jr. Membership Development Award" in 2015 for my achievement and the "Bruce Milam Award for Multifamily Council Membership Development" in 2018. I am currently serving my second three year term as member of the HBAR Board of Directors.

As a citizen of Richmond my favorite role has been as a Trustee for the Cal Ripken Sr. Foundation.  We raised more than one million dollars during the Great Recession to build a Class A Little League Ballpark in the middle of one of the City's toughest neighborhoods and set in motion in conjunction with the Boys and Girls Clubs of America  a series of youth activities and sports programs at that ballpark.  It was a great experience to watch those underprivileged kids playing catch with major league ballplayers, the Governor's and Mayor's staff and members of the Richmond City Police Department and then seeing them participate in the first game on that new field.  I'm also a participant in my Neighborhood Watch program, serving as "Block Connector" and in the Richmond-300 master community planning process.

Serves as:

  • A National Trustee for the Cal Ripken, Sr. Foundation
  • Past Director of the Homebuilders Association of Richmond (HBAR)
  • Past Chariman of HBAR Multifamily Housing Council whose members include every major builder in the city of Richmond
  • Member of the University of Virginia Advisory Board for the School of Continuing and Professional Studies and on the local board of the Virginia Aid Foundation
  • Past President of the William ("Bullet Bill") Dudley Foundation

Services:

  • Investment Services / Capital Markets

Property Type:

  • Land
  • Multifamily-Apartment
  • Healthcare-Medical

Skills:

  • Area Development
  • City Sales
  • Investment Properties
  • Land Marketing
  • Land Sales
  • Portfolios
  • Residential Development Sales
  • Residual Land Value
  • Retirement Living
  • Seniors Housing
  • Student Housing
  • Mixed-Use Properties

Clients:

My clients have included many of the residential builders and multifamily developers in the Richmond region.  I've sold apartment communities for national private equity groups such as Core Property Management and the Sentinel Corporation.  I've done site locations for national AL/ AZ developers Pearl Memory Care Centers and Bickford Senior Living.  Early in my brokerage career, I had the regional accounts for Lowes Home Stores and Costco.

Education:

I received my B.A. (English Literature) in 1974 and M.Ed. (Community Education) in 1976 from the University of Virginia.  I've served the University as a founding member of the Advisory Board of the School for Continuing and Professional Studies and as President of the Richmond Chapter of the Alumni Association.  I continue to be a cheerleader for the University's role nationally in academics and sporting events.

I worked a short stint with the Charlottesville City Schools, establishing their system's first  Breakfast Nutrition Program and their first After School Enrichment Program. 

I was recruited shortly afterward by the National Association of Homebuilders to initiate Work Force Training and Apprenticeship Programs in the Building Trades.  Contacts within that industry led me into the field of real estate development and thereafter brokerage for a career.

Memberships & Involvements:

  • Trustee - Cal Ripken Sr. Foundation
  • Past Director, Home Building Association of Richmond (HBAR)
  • Past Chairman, HBAR Multifamily Council
  • UVA Club of Richmond

 

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