Miami's Newgard Development Group Expands Firm with the Addition of Four New Members

Humberto Vanegas, Edmundo Angulo, Luis Riquezes and Rudy Añez join the South Florida-based real estate development company. End Quote

Miami, FL (1888PressRelease) September 12, 2012 - South Florida-based real estate development firm Newgard Development Group is expanding its team of professionals with the addition of four new members. The firm's newest executives include Chief Financial Officer Humberto Vanegas; Controller Edmundo Angulo; Vice President of Construction Luis Riquezes; and Senior Project Manager Rudy Añez.

News of Newgard's most recent hires comes as construction of BrickellHouse - the firm's latest residential project - moves full steam ahead. BrickellHouse, a 374-unit luxury condominium tower underway in the heart of Downtown Miami's Brickell Financial District, broke ground last month and is slated for completion in 2014.

The announcement was made by developer Harvey Hernandez, chairman and managing director of Newgard Development Group. "Newgard's latest additions are consistent with our commitment in commanding experienced, senior-level talent who are passionate about delivering better-than-expected results," said Mr. Hernandez. "This team of professionals has far-reaching connections throughout South Florida and across the globe. Their skills and relationships will be great assets to our firm's near- and long-term strategic growth."

In his new position as Chief Financial Officer, Mr. Vanegas will play a key role in Newgard's financial operations department. As a certified public accountant with more than 10 years of finance expertise, Mr. Vanegas has held previous positions with various real estate development companies, including CC Devco Homes, LLC, US Capital Holdings, Related Group of Florida, and H&H Development, Inc. He earned a Bachelor's degree in accounting with a minor in economics from the University of Florida's Fisher School of Accounting and a Master's degree in accounting from Florida International University.

As Controller, Mr. Angulo brings more than 15 years of international experience to Newgard's internal accounting department, specializing in commercial finance, reporting, budgeting, cost/variance analysis, controls implementation and auditing. Mr. Angulo has held previous finance positions with Ford Motor Company Mexico, various divisions of General Electric Company (GE), and most recently, with the BBB Group. He earned dual Bachelor's degrees in business administration and accounting from the Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM) in Mexico and the University of Wisconsin.

In his role as Vice President of Construction, Mr. Riquezes will oversee the construction planning process for all of Newgard's active projects. He benefits from 15 years of industry experience, having held previous positions with Turner Construction Company and Grupo Eiffel, an engineering firm based in Venezuela. Mr. Riquezes earned a Bachelor's degree in civil engineering from the Universidad Catolica Andres Bello in Caracas, Venezuela and a Master's degree in construction engineering and management from the University of Michigan.

As Senior Project Manager, Mr. Añez brings more than 20 years of experience in the construction and development industry to Newgard's team of professionals. With a track record of delivering numerous multi-million dollar multifamily projects throughout South Florida, his responsibilities at the firm will include negotiating vendor contracts, managing budgets and leading team members. Mr. Añez has held previous construction roles with several well-respected development companies, including Adrian Development Group, H&H Development, Inc., CABI Developers, and most recently, real estate development company 1st United Companies. He earned an Associate's degree in building construction technology from Miami-Dade College, a Bachelor's degree in construction management from Florida International University, and a Master's degree in engineering management from California Coast University.

Newgard Development Group's main office is located at 1200 Brickell Avenue in Downtown Miami's Brickell Financial District. To learn more, please visit www.newgardgroup.com.

About Newgard Development Group:
The partners of Newgard Development Group have spent 15 years directly involved in the South Florida multifamily real estate market. Founded by Harvey Hernandez, Newgard's highly skilled associates bring more than 30 years of combined experience in development, design, marketing and construction. Hallmarks of the Newgard approach to development include innovative luxury buildings in desirable, centrally located neighborhoods, pedestrian-oriented lifestyles and cutting-edge amenities. Property designs reflect a commitment to relevant architectural detailing and the attitudes of residents and business tenants. The Newgard dedication quality extends to its professional construction team, insuring superior attention to detail, exceptional finishes and timely completion. In addition to BrickellHouse, Newgard's recent projects include Solaris at Brickell, Gallery Art in the Miami Arts District and City Palms in Downtown West Palm Beach. More information can be found at www.newgardgroup.com.

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