Real Estate Firm Surprises Team With $10M in Bonuses
December 11, 2019
How’s this for a holiday gift? A real estate firm in Baltimore stunned its workforce of 198—moving some to tears—when announcing $10 million in bonuses would be distributed among them. St. John Properties officials said the big bonus was in celebration of achieving the firm’s goal of developing 20 million square feet of office, retail, and warehouse space in eight states (valued at $3.5 billion).
The company’s founder and chairman Edward St. John made the announcement at the firm’s annual holiday celebration on Dec. 7.
“To celebrate the achievement of our goal, we wanted to reward our employees in a big way that would make a significant impact on their lives,” says Edward St. John, the company’s founder and chairman. “I am thankful for every one of our employees for their hard work and dedication. I couldn’t think of a better way to show it.”
The bonus will be distributed based on years of service. The average team member will receive $50,000, a press release read.
The bonus is also on top of the company’s annual year-end bonus, it said.
News of its $10 million holiday surprise has gone viral, being picked up by major news networks and newspapers across the country.
St. John Properties is one of the largest commercial real estate firms in the Mid-Atlantic area.
St. John Properties; “Real Estate Firm Announces $10 Million Bonus for All Employees,” ABC News (Dec. 11, 2019); “A Real Estate Company Surprised Employees With $10 Million in Bonuses at a Holiday Party,” CNN.com (Dec. 10, 2019); and “A Maryland Real Estate Company Surprised All its Employees With $10 Million Bonus,” USA Today (Dec. 10, 2019)
Updated: April 03, 2020