Combination creates compelling new platform to meet client and market demand
WASHINGTON, D.C. -- Madison Marquette, one of the nation's leading privately held commercial real estate investment and operating companies, and PMRG, one of the nation's premier privately held commercial real estate firms specializing in project leasing, property management, investment management and development services, confirmed today their merger closed. News of their merger discussions was shared in a public announcement on May 24.
"Our growth strategy is to be responsive to client demand for expanded investment management and property services as well as broader expertise in more markets. Merging operations with PMRG meets that demand.” states Amer Hammour, Chairman, Madison Marquette. “Our combined capabilities also make us uniquely qualified to meet shifting market demand for mixed-use development, management and investment expertise,” Hammour continued.
The merged companies will offer the structure needed to deliver strategic advice and account management from senior industry leaders across a broad array of asset classes. “The response from our clients has been overwhelmingly positive,” states Rick Kirk, Chairman and CEO, PMRG, “We will provide best-in-class, customized counsel and services to clients who are frequently marginalized at larger firms.”
The companies' shared clients include many of the top institutional owners and investors in the industry. PMRG's dominance in the southern US is complementary to Madison's presence in primary gateway markets on both coasts. The combined company will be headquartered in Washington, DC with a major presence in Houston, TX. Key executives, client services and corporate functions will be located in 12 regional offices across the US. The new company is home to 600 professionals and the leadership of both firms will remain intact.
Madison Marquette, an industry leader in mixed-use and retail development and redevelopment maintains offices in major urban gateway markets including New York, Washington, D.C., Fort Lauderdale, San Francisco, Seattle and Los Angeles. Madison Marquette's signature projects include the $2.5 billion District Wharf in Washington, D.C. in partnership with PN Hoffman; the Asbury Park Boardwalk redevelopment in New Jersey; the revitalized District La Brea in Los Angeles; and Pacific Place in Seattle. The company manages a national portfolio of premium retail and mixed-use assets on behalf of third-party clients and manages an investment portfolio valued at $5 billion.
PMRG has provided its high-profile clients with comprehensive real estate services since 1954. Through divisional offices in Houston, Atlanta, Washington DC, Boston and Irvine, CA the company leases, manages and provides investment and development expertise across a diverse portfolio of office, industrial, medical and multi-family space in 17 states and 33 markets. Signature projects include trophy office property 3737 Buffalo Speedway and 2929 Weslayan, a landmark 40-story multi-family development in Houston, TX; as well as The Confluence luxury multi-family tower in Denver, CO; and Mesa Acute Care Hospital in Mesa, AZ.
The Madison Marquette and PMRG merger creates a single new fully-integrated commercial real estate firm. While the operating platforms are in transition, the two companies will retain their individual brands. Like Madison Marquette, PMRG will be identified as a Capital Guidance company until the combined firm announces its final branding. Capital Guidance, the parent company, is a privately-held, international investment company with expertise across diverse business sectors in 27 countries. Founded in 1965, the company maintains primary offices in Washington DC, Geneva and Paris.