The Hamilton Company, founded by real estate icon Harold Brown in 1954, celebrated its 60th anniversary while announcing the company had reached another milestone - the accumulation of more than $1.5 billion in residential and commercial real estate assets.
The announcement was made by Hamilton Company president Carl Valeri during a gala 60th Anniversary celebration in which Brown and other Hamilton employees were recognized for their long-time contributions.
Valeri, 50, a native of Arlington and resident for the past 38 years, set the tone for the celebration at the Westin Waltham Hotel when he told the more than 400 employees, vendors and guests: "We are celebrating the past with our eyes on the future. With more than $1.5 billion in assets, we are financially strong, self-sufficient and ready to take advantage of whatever the residential and commercial property marketplace has to offer."
Brown, now 89, told employees how and why he left a lucrative career as a chemical engineer to "dabble" in real estate, first as an owner of 3 donut shops in Greater Boston, which he sold when he re-entered military service during the Korean War.
After the war, Harold again began buying real estate, turning vacant basements into garden-style apartments.
"I realized this was a nice way to make a living,"said Brown, "so I just kept going." After the real estate crash of the late 1990s, Brown filed for reorganization but soon emerged stronger than ever. "It was the best thing that happened to me," said Brown. "It taught me discipline."
Brown, a resident of Brookline, recently founded the Hamilton Company Charitable Foundation, which will give millions of dollars in perpetuity to local charities and community organizations in and around Greater Boston. Jameson Brown, Harold's son, overseas the foundation and serves as the company's vice president for acquisitions.
President Valeri summed up the evening when he acknowledged both Brown's leadership and the hard work of all of the Hamilton Company's 400 employees, 40% of whom have been with the company more than 10 years.
"We're a team and it's the strength of our team that makes this company great," said Valeri. "The best is yet to come."