Severn's corporate mission is fulfilled through the core values that direct our daily business
DEDICATION - HONESTY- INNOVATION - QUALITY - RESPECT
OUR TEAM
Arthur "Jib" Edwards, Jr.
President
Jib is President of Severn Management, Severn Development Company and a Partner of Pax Edwards Development. Severn Development Company, LLC, is acknowledged by Delaware, Maryland and Virginia State Housing Authorities as a qualified multi-family affordable housing developer. As President of Severn Development Company, Mr. Edwards, Jr. has successfully developed a diverse range of multi-family housing developments, from small rehabilitation projects to Structured financing that includes market rate and government programs such as Section 515 Rural Development, HUD 223f, Low Income Housing Tax Credits, and other affordable housing resources. Mr. Edwards, Jr. has sponsored and served as a partner on a total of 60 limited partnerships that have acquired and built an aggregate of $600 million of assets on behalf of investment partnerships, for which Severn Development Company, LLC and Pax Edwards, LLC act as a General Partner. As President, of The Severn Companies Mr. Edwards, Jr. currently oversees 130 employees and 100 multi-family housing properties in Delaware, Maryland and Virginia and West Virginia. Certified as HCCP and C3P Specialist, Mr. Edwards, Jr is recognized by the Low-Income Housing Tax Credit Program for compliance in the LIHTC program. Prior to joining The Severn Companies, Jib served as a naval pilot and flew the SH-2F during Desert Storm.
Spencer J. Leech, III
Executive Vice President & CIO
Spencer joined The Severn Companies in 2005. Mr. Leech has over 35 years of experience in the commercial, industrial and residential real estate industry. His experience includes directing the discovery, acquisition, construction and management of sizeable, fixed assets, including activities such as site selection, financing, construction oversight, and liquidation. Mr. Leech has a bachelor’s degree in business, Government, and Computer Science from the University of Maryland.
Grant A. Searfoss
VP, Development and Capital Markets
Grant joined The Severn Companies in March of 2020. He is responsible for overseeing Severn’s development team and the process from acquisition through project closeout. He maintains an expertise in the development of projects utilizing LIHTC, HUD, and USDA programs. Grant currently holds a position on the Board of the Maryland Affordable Housing Coalition (MAHC). Prior to joining Severn in 2020, he served as a Financial Analyst for Capital Health Group, LLC, where he participated in the acquisition and disposition of over $200 MM in Class A Senior Living communities. Grant graduated with a B.S. in Financial Economics from the University of Maryland, Baltimore County (UMBC) and holds Master's in Real Estate Development from Georgetown University.
Karyn Baust
Chief Operating Officer
Karyn joined TSC in 2021 with the acquisition of Schuster Properties. As the new Chief Operating Officer for Severn Management, Karyn is responsible for the daily operations of our portfolio. With 23 years of leadership experience, including 19 in the Affordable Housing industry, she provides guidance, oversight and direction of all properties owned & managed within Severn’s portfolio. She holds a Bachelor’s degree in Business Administration from University of MD. Her extensive background is with various state and federal funding programs HUD, PRAC-811, PVB, LIHTC, HOME, USDA, & DSHA, earning her COS, USDA Rural Development 515 S.T.A.R, Certified Credit Compliance Professional (C3P10), Assisted Housing Manager (AHM) AJ Johnson Fair Housing certification & REAC top-score award. She has hands-on experience with new development lease-up, & re-development.
Christopher “Kit” Vallhonrat
Chief Financial Officer
Kit returned to TSC at the end of 2019 having previously served as the interim President of Severn Construction Company from 2014 to 2015. He directs the financial, accounting business operations and HR functions for TSC. He has over 25 years of leadership experience in operational and financial roles. Kit holds a Bachelor of Science from the United States Naval Academy and an MBA from Drexel University's Lebow College of Business (Beta Gamma Sigma Honor Society with a 4.0 GPA)
Christopher P. Bell
Jr. Analyst
Chris joined The Severn Companies in 2024 as an analyst to the Development Team. His primary responsibilities involve shepherding projects through the predevelopment stage to closing, as well as assisting in the underwriting of new developments. Prior to joining Severn, Chris held various leadership roles in hotel and resort operations with Four Seasons Hotels & Resorts, and a boutique ownership group, Charter Road Hospitality, as an AGM and task force GM to a portfolio of hotels. Chris transitioned to commercial real estate in 2021 eventually joining Transwestern’s Mid-Atlantic Team as the financial analyst for the region’s 25+ tenant rep and agency brokers. Chris graduated with a Bachelor of Science in Hospitality Management, a minor in Business Administration, and holds a Master’s in Business Administration from the University of Mississippi.