By Thomas Grillo
Banker & Tradesman Staff Writer

JPI, one of the nation’s largest builders of luxury apartment communities, is trimming its workforce, including 10 in its Southborough office, Banker & Tradesman has learned.

“Given the financial crisis and the fact that the volume of new transactions is way down, it’s probably not unusual considering the times we’re in,” said Thomas O’Brien, JPI’s managing partner in Southborough.

The Dallas-based firm is expected to announce this afternoon that the company will lay off about 10 percent of its 1,000 member workforce, or 100 employees. JPI manages approximately 60,000 units nationwide and in Canada, according to the company’s Web site.

Over the years, the firm has managed or leased more than 202 conventional properties and 52 student dormitories, totaling 30,000 beds. The total value of its properties is in excess of $2.5 billion, according to the Web site. The company manages 3,000 units in the Bay State.

O’Brien insists that several Massachusetts projects in the pipeline will get built, including Jefferson at Admiral’s Hill, a luxury development in Chelsea.

“We will move forward with projects in Chelsea, Arlington and Ashland,” he said. “But any real estate company looking at new projects has got to be a little bit worried about whether or not to start anything new.”