Washington, D.C. Investment Manager to Hook Up with Houston Services Firm
Madison Marquette, a leading real estate financial investment management firm, and PM Realty Group, a powerhouse in home management and proprietor representation, are in speak to merge their firms.
The merger will develop a brand-new company that mixes Madison Marquette’s experience in helping manage landmark mixed-use tasks, such as The Wharf in Washington, D.C., and PMRG’s long history of home management and advancement services. The two business already have been pitching brand-new organisation together, touting their integrated strengths.
The merger comes as mid-sized services companies look for their place in the brokerage world controlled by the Big 3 – CBRE, JLL and Cushman & & Wakefield. Companies such as PMRG, Avison Young, Newmark Knight Frank and Cresa Partners are looking for alternative methods to take on the global players.
Just this week, several PMRG executives participated in ICSC’s RECon convention to read more about retail and its key role in today’s mixed-use jobs.
“Madison Marquette, one of the country’s leading independently held business real estate financial investment and operating business, and PMRG, among the nation’s premier privately held business property firms focusing on task leasing, property management, investment management and advancement services, confirmed today that they are in conversation to merge operations. Closing is anticipated in the next 30 days,” Madison Marquette stated in a declaration to CoStar News.
The merger is contingent on approval from a majority of the firms’ clients and 100 percent approval from certain key clients, inning accordance with PMRG executives.
Madison Marquette, of Washington, D.C., is known for its participation in prominent mixed-use jobs including the $2.5 billion The Wharf on D.C.’s waterfront, Asbury Park in Monmouth County, NJ, and 2 and 48 Stockton Street in San Francisco’s Union Square. The company is led by Chairman Amer Hammour and President John Fleury, who was a veteran Cassidy Turley executive.
Houston-based PMRG is regarded as one of the top home management and property manager representation companies, and has tasks extending from Washington to Los Angeles and Honolulu.
Editor’s Note: This post will be upgraded as more information comes in.