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The New Year's Eve fireworks haven't stopped for Jack Fiorella.
During January, the Birmingham real estate investor and developer closed on two apartment complex buys near Atlanta and in Naples, Fla., for a total of $60 million.
He shows no signs of slowing down soon. Later this month, Fiorella's Equity Resources Inc. plans a $15 million buyout of two partners, enabling him to take sole ownership of the 408unit Lincoln at Wolfchase apartment complex in Memphis.
Meanwhile, Fiorella and partner Mark Marlowe have formed a new company, Equity Residential Inc., to sell homes the two men will build through an existing company, Equity Development Inc.
In two weeks, Equity Development will break ground on 51 garden homes in the Lake Cyrus subdivision on Alabama Highway 150. Design is under way for 55 garden homes to be built in the next two or three months off Caldwell Mill Road.
In the midst of this frenzy, Fiorella is moving his 19-employee corporate headquarters this week to a new $2.5 million, 16,000-square-foot building in Liberty Park.
No wonder Fiorella is a fast talker.
But big deals are his...