Commercial Real Estate Development

Birmingham, Alabama | (205) 777-5469

Stonegate Realty Company Team

Mark D. Elgin

Mark Elgin is the Managing Member and CEO of Stonegate Realty Company, LLC (SRC), a private diversified real estate development and investment company. Among other notable development projects, SRC was the developer of The Urban Center at Liberty Park in suburban Birmingham. SRC was formed in 1999 as the vehicle for Elgin’s acquisition of a mixed-use portfolio of commercial real estate from Torchmark Corporation in a $105 million transaction. Subsequent to the death of partner Ron Richey in 2010, Mr. Elgin disassociated from the Richey estate and took SRC into independent development and investments. Beyond the one million square feet of office income properties purchased from Torchmark, SRC has developed and owned a variety of office, entertainment/retail, urban loft conversions and other income properties. SRC has been actively involved in real estate management, land development and income property development both for its own account and in partnership with third-party investors.

Elgin grew up in the Seattle area and attended Willamette University in Salem, Oregon, graduating in 1977 with majors in economics and philosophy. Elgin’s real estate career began in Oklahoma City as a commercial leasing and development manager for Landmark Land Company. In Oklahoma, Elgin witnessed both the boom and the bust of Oklahoma’s oil-based economy in the late seventies through the early eighties. Elgin began working for Globe Life and Accident Insurance Company, a subsidiary of Torchmark Corporation (a financial services holding company), in Oklahoma City in 1983. Elgin’s initial responsibilities included managing Globe’s real estate investment and development activities, including development of a new corporate headquarters building for Globe Life anchoring a 50-acre mixed-use commercial development.

Elgin relocated with Torchmark to Birmingham in 1988 to manage Torchmark’s investment in the 3,000 acre Liberty Park mixed-use planned community development (a 50/50 partnership with Drummond Real Estate) and to assume responsibility for all of the real estate assets and activities of Torchmark Corporation and subsidiaries – a portfolio of 2 million square feet of office space and 5,000 acres of land under development. Through his career to date, Elgin has developed and/or renovated over 3.1 million square feet of commercial real estate (representing the Landlord in negotiating commercial leases on approximately 4 million square feet of office/retail space) and managed over 7,000 acres of land development in several planned communities and mixed use commercial projects, including five golf course communities.

Elgin has three daughters and one son, ages 21 years, 18 years, 16 years and 12 years. He resides in Birmingham, Alabama.

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Stonegate Realty Company | 2201 5th Ave South| Unit 211 | Birmingham, AL 35233