A New Opportunity

The Carl M. Freeman Companies’ commitment to innovation and excellence goes back to its very beginning and to its founder, Carl M. Freeman. Mr. Freeman began his real estate career in California in 1937, concentrating on sales and land planning activities. After six years in the business, he left California to join the Army. He served during World War II in the Army Engineers in the China-Burma-India Theater of operations. At the end of the war, he relocated to the Washington, D.C. area and resumed his career in real estate.

Founded in 1947, the Carl M. Freeman Associates, Inc built its first housing community in Carole Highlands, Maryland. The award-winning development featured Mr. Freeman’s California Cottage home, creating a community of truly livable spaces.

In the early 1950’s the Company expanded into apartment building development. Together with an emphasis on balconies, patios, and contemporary design, the fabulously successful Americana garden apartment became the company trademark through the 1950s and 1960s. The design, featuring the window-wall concept to let the outside in, was quickly copied throughout the United States. Since the 1950s, the Carl M. Freeman Companies built planned communities in Washington, D.C., Maryland, Virginia, Pennsylvania, Delaware, and Iowa. During Mr. Freeman’s lifetime, the Company participated in the development of more than 20,000 apartment units, townhouses and single-family homes in over 50 residential communities.

In 1957, Mr. Freeman was a founder and the first president of the Suburban Maryland Building Industry Association, an organization of builders and related trade professionals - established with the intent of creating and maintaining relationships with federal, state, county, and civic agencies. In addition to a number of these civic activities, Mr. Freeman also led major philanthropic efforts throughout the Greater Washington area – a contribution to the community that the Companies and The Carl M. Freeman Foundation continue today.

Vision and Innovation Continue

Mr. Freeman’s vision was to create communities rather than build houses. Mr. Freeman’s largest project, Sea Colony, exemplifies this vision. Today, this resort community includes more than 2,000 homes, 28 tennis courts, private beach access, a marketplace, fitness center, numerous pools and recreational activities for each member of the family to enjoy.

The Carl M. Freeman Companies began developing and managing neighborhood shopping centers as a natural outgrowth to helping communities live better. Carl Freeman introduced this element in 1968 by the creation of the Cabin John Shopping Center in Potomac, Maryland. Since then our commercial real estate business has grown through the development, ownership and management of many neighborhood shopping centers in the Mid-Atlantic.

A Second Generation of Leadership

In 1982, Mr. Freeman’s son, Joshua M. Freeman joined the Companies after serving – just as his father did – in the United States Army. Josh was selected as a Special Forces Green Beret. In 1992, having spent a decade learning the business and spirit of the organization, Josh became President of the Carl M. Freeman Companies and was responsible for all aspects of the company. Following Mr. Freeman’s death in 1998, Josh assumed the title of Chief Executive Officer.

Under Josh’s strategic direction, the Companies experienced tremendous growth and prosperity. During his leadership, the Companies significantly expanded the Commercial Real Estate division to include the development, redevelopment and management of more than 20 neighborhood shopping centers; reinvigorated the Community Development and Homebuilding division, and added the Sports and Hospitality division which featured award winning golf courses.

Contemporary and Classic

The Companies first golf course, Bear Trap Dunes Golf Club in Ocean View, Delaware, opened in 1999 and we also have acquired and managed golf courses in Maryland and Virginia. Additional hospitality ventures include the purchase and redevelopment of The Historic Tidewater Inn in Easton Maryland home to the newly redeveloped Restaurant Local.

Our most recent community development, Bayside, outside of Fenwick Island, Delaware, is a culmination of all the learnings since 1947. The Bayside community includes a Jack Nicklaus Signature Golf Course on Assawoman Bay, Delaware within a master planned community of over 1,600 homes and numerous recreational facilities. In 2005, the Companies continued geographic expansion by purchasing the Coolfont community in Berkeley Springs, West Virginia and plans are underway to create a second home retreat and resort community.

Josh’s innovative business philosophies led to the creation of the Real Estate Services division and in 2004 the Company acquired Seacoast Realty, a general brokerage company, and First Republic Mortgage Corporation resulting in a complete real estate services package for customers.

The Legacy Continues

On December 14, 2006, the Company and its family of employees suffered the untimely and tragic loss of Josh Freeman. Today, the Companies are managed by Frank G. Edwards, an experienced real estate industry veteran who was named President after serving as Chief Financial Officer since 1999, along with a tenured management team and an active and passionate Board of Directors.

As we celebrate our 60th anniversary in 2007, the Carl M. Freeman Companies continues to develop quality communities, pursue sound business opportunities, expand to new geographic markets and diversify its commercial portfolio.

During our 60 year history, the Carl M. Freeman Companies have made significant contributions to our industry -- and our communities. We invite you to learn more about our rich history.

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