Leonard Hyde

Hyde received an engineering degree from Vanderbilt University. Before founding JL Properties he was an oil and gas engineer with ARCO and then a commercial real estate broker.⁠[1]

Rubini persuaded Hyde to quit his job and become his partner at JL.⁠[2]

In 1990 Jonathan Rubini and Leonard Hyde formed JL Properties, a real estate development and management firm based in Anchorage, Alaska; the two have remained its principals.⁠[3][4]

The completion of the JL Tower closed a six-year development period in which JL developed eight office buildings totaling more than one million square feet of Class A office space, plus 1,200 military housing units.⁠[3]

On December 16, 2013, JL Properties announced that a partnership it led with Washington Capital Management and Cook Inlet Region Inc. had acquired the ConocoPhillipsConocoPhillipsConocoPhillips is an American independent oil and gas exploration and production company, formed by the 2002 merger of Conoco and Phillips Petroleum and headquartered in Houston, Texas.Open the full entry office complex in downtown Anchorage.⁠[5]

Twinlab Consolidated Holdings had issued JL-Mezz Utah, LLC two warrants for a combined 2,329,400 shares of common stock. On February 24, 2015, JL-Mezz Utah assigned them to Jonathan Rubini, Hyde, Mark Kroloff and Bristol Bay Native Corporation; in June 2015 Bristol Bay assigned its portion to Rubini and Hyde.⁠[6]

On February 4, 2016, Hyde exercised 50 percent of the two warrants assigned to him, acquiring 257,457 Twinlab shares for an aggregate price of $0.02.⁠[6]

In May 2015 JL Properties held a topping-off ceremony at Flamingo Crossings in Orlando, Florida, for two Marriott hotels: the 248-key all-suite SpringHill Suites by Marriott and the 250-key extended-stay TownePlace Suites by Marriott, slated to open in early 2016.⁠[4]

JL Properties describes itself as Alaska’s leading real estate development and investment firm, with a portfolio whose market value exceeds $2 billion; in Anchorage, Alaska’s largest market, it owns and manages more than two million square feet of Class A office space, nearly 25 percent of that market.⁠[7]

The company developed the Centerpoint office park, including the JL Tower, the ASRC Building and the Centerpoint West Building, and has developed projects including the Anchorage Convention Center (as co-developer), the National Park Service headquarters, the Calista Corporation headquarters and the Cook Inlet Tribal Council headquarters. Its acquisitions also include the Denali Tower and the Calais buildings.⁠[7]

In housing, JL Properties developed, manages and through affiliates owns more than 3,200 units of privatized military housing on Joint Base Elmendorf-Richardson land, and owns and manages more than 1,300 apartment units. Outside Alaska it has owned office buildings in Utah and developed a 100,000-square-foot high-tech industrial facility there, developed two hotels near the western entrance of Walt Disney World in Orlando, Florida, and taken part in private equity transactions in finance, telecommunications, energy and industrial services.⁠[7]

Hyde and Rubini control several of Anchorage’s largest buildings, including JL Tower and the ConocoPhillips Towers, and also own a business park in Utah and hotels in Florida. Each owns about 50 percent of JL Properties.⁠[2]

As president of JL Properties, Hyde is primarily responsible for sourcing and financing new acquisitions, manages the development process together with Rubini, leads the company’s operating and leasing activities and oversees its staff. He serves on the board of directors of the Alaska Museum of History & Art.⁠[1]

On Forbes’s 2026 “The Richest Person In Every State” list, Hyde and his family’s net worth was estimated at $600 million as of October 14, 2026, with real estate (self-made) listed as the source.⁠[2]

JL Properties: Official website: https://www.jlproperties.com/ (opens in a new window).⁠[1]