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 in May that they are in discussions to merge operations. Closing is anticipated in the next 30 days.
“We anticipate a highly-complimentary combination that significantly expands the capabilities of both firms,” states Amer Hammour, chairman, Madison Marquette. “Madison Marquette’s investment management as well as retail and mixed-use development, marketing and management expertise would join PMRG’s office, medical, industrial and multi-family capabilities to provide leadership across all asset classes to our clients and investment partners.” PMRG’s dominance in the southern U.S. is a perfect match for Madison’s presence in primary gateway markets on both coasts. The companies’ shared clients include many of the top institutional owners and investors in the industry.
“The merger is an excellent match of culture and expertise — a tremendous win-win for our people, clients and investment partners,” states Rick Kirk, chairman and CEO, PMRG. The leadership of both firms will remain intact, and the combined company will maintain their primary office locations in Washington, D.C. and Houston.
Madison Marquette 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 D.C., 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 Wesleyan, a landmark 40-story multi-family development in Houston; as well as well The Confluence luxury multi-family tower in Denver; and Mesa Acute Care Hospital in Mesa, Ariz. PMRG will be joining Madison Marquette as a Capital Guidance Company.