A CHANGING OF THE GUARD AT FRALIN & WALDRON EMPIRE

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, January 29, 1993                   TAG: 9301290255
SECTION: BUSINESS                    PAGE: A-5   EDITION: METRO 
SOURCE: CHARLYNE H. McWILLIAMS STAFF WRITER
DATELINE:                                 LENGTH: Medium
A CHANGING OF THE GUARD AT FRALIN & WALDRON EMPIRE
Richard S. Whitney Jr., on Thursday was named president of Fralin & Waldron Inc., a Roanoke-based real estate developer and nursing-homes operator.
Whitney, who had been the company's executive vice president, was appointed as part of a reorganization following the death last week of one of the firm's founders, Horace Fralin.
Before becoming executive vice president in 1989, Whitney was senior vice president of construction and development, responsible for all of the company's construction and land acquisitions.
New leaders also were named for Fralin & Waldron's affiliated companies. William Anglim has become president of Medical Facilities of America Inc. and Charles C. Nimmo president of F&W Management Corp.
Anglim, who became executive administrator of Medical Facilities in April, has been with the company since 1985. Nimmo has been with F&W for 11 1/2 years and was responsible for company finances.
Elbert Waldron, Fralin's business partner and former president of Fralin & Waldron, will be chairman of all three companies.
"We had been doing a lot of planning for two years - when we found out Mr. Fralin was ill - so that the company could continue to operate as in the past," said Whitney, who has been with Fralin & Waldron since 1969.
Despite their failing health, Fralin, 66 when he died, and Waldron, 76, visited the office every day.
"Mr. Fralin was very analytical and insightful," he said. "He was bright and sharp on business matters and Mr. Waldron still is."
Fralin and Waldron started the development company in 1962. Its first project was Eton Hills in Roanoke off Colonial Avenue. Since then, it has been involved in 133 projects in Virginia and North Carolina. It developed Brightwood Manor on Hunt Avenue, Bent Tree on Colonial Avenue, Oak Park on Otter Avenue and Shawnee Apartments in Blacksburg.
Fralin & Waldron was ranked in 1989 by Professional Builder magazine as the 95th-largest U.S. housing developer, with sales volume of more than $125 million. The companies employ more than 4,000 people, Whitney said.
F&W Management started as a division of Fralin & Waldron in 1968 and became a separate company in 1980. It manages 12 office buildings in Roanoke, 7,842 apartments and 1,322 condominiums in Virginia and North Carolina.
Medical Facilities of America Inc. opened its first nursing home in 1971 and became a separate company in 1984. It operates 3,861 beds in 30 nursing homes in Virginia. Four other nursing homes are being developed in North Carolina.

by Bhavesh Jinadra by CNB