The partners of Susquehanna Real Estate recently announced the sale of their interest in the company to Jack R. Kay.

Kay is Susquehanna's president and chief executive officer.

"I am excited by this new opportunity and look forward to carrying forward the high standard of business practices that have defined the company," he said in a statement. "We will continue the Susquehanna Real Estate focus on urban residential and commercial investment and on advancing the economic development of the downtown York community."

Selling partners include the Appell family, John L. Finlayson and the estate of William H. Simpson.

Susquehanna Real Estate was formed in 2006 to acquire a portion of the real estate holdings of Susquehanna Pfaltzgraff Co. Its portfolio includes several properties in York City and the surrounding communities.

The real estate company also provides consulting services.