Company History

We only realize how far we’ve come by acknowledging where we started…

Our company is led by Frank Levy, whose father, Jim Levy, infused our culture with his passion for real estate development and the commitment to providing exceptional value. Jim entered the real estate business on the east coast in 1960, relocating to Iowa in 1973. Whether serving luxury or income-restricted customers, whether focused on for-sale or rental properties, he always strove to create something beautiful, even if the market was not prepared to pay full value for that beauty. We try to uphold Jim’s values and take the companies in the direction he dreamed they would go. Click here for a retrospective on Jim's life and career, prepared on the occasion of his 70th birthday.

Today, Newbury Management Company’s primary focus is building, or acquiring and renovating, and then managing multifamily housing properties. Currently Newbury manages more than 2,200 apartment homes. About one-third of the properties Newbury oversees were originally developed and built by Jim Levy and Robert Malone between 1975 and 1987. Jim formed Newbury in 1987 as a development company and over the course of the next 20 years created numerous places for people to call home. Those include luxury retirement communities, cottage homes for sale to empty nesters, and a variety of apartment and townhome rental properties.

Newbury is a licensed Real Estate Brokerage in the state of Iowa.

Leadership Bios

Frank Levy (President) earned a BA in History from Yale and an MBA from Harvard, and worked in consulting and technology before joining Newbury in 2001. Since 2006, Frank has co-led the company with Debbie Fisher, and upon the passing of his father, Jim Levy, in 2008, Frank inherited Newbury Management Company and became its President. Frank leads the development of new business opportunities, and serves as the firm's broker and owner.

Debbie Fisher (Executive Vice President) is a graduate of the American Institute of Business, and has been with Newbury Management Company and its predecessors since 1977, through the years she has worked in nearly every facet of the business, from Human Resources and office administration to project development and financing. Currently she oversees more than 2,200 multi-family housing units, comprised of conventional, tax credit, low income, rural family and senior housing units. Debbie is also the lead contact for the company’s portfolio of third-party managed properties. She has been involved in virtually every major decision and initiative taken by the company throughout its existence.

Cheryl Moore (Controller) joined Newbury Development Company in 1989, initially on a part-time basis to handle the fledgling company's accounting needs. Prior to and in her early days with Newbury, Cheryl provided independent accounting services to as many as 13 separate clients. As Newbury's business grew, so did the demands on Cheryl's time, until soon she became a full time member of the team, being named Treasurer and Controller in 1995. Cheryl oversees and manages Newbury's accounting department for all of its business lines, including property management, senior housing and construction/development.