Madison Marquette, PMRG to Merge in June
- May 29, 2018
Madison Marquette, a privately held CRE investment and operating company, and PMRG, a privately held firm specializing in project leasing, property management, investment management and development services, are in discussions to merge their operations. Closing is anticipated in June.
Both companies are under the umbrella of Capital Guidance, which was founded more than 50 years ago by a small group of families with roots in the Middle East. Besides CRE, Capital Guidance has interests in financial services, specialty chemicals and luxury home products, among other sectors.
“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 multifamily capabilities to provide leadership across all asset classes to our clients and investment partners,” Amer Hammour, chairman of Madison Marquette and a managing director of Capital Guidance, said in a prepared statement.
PMRG’s concentration in the southern United States reportedly will complement Madison’s presence in primary gateway markets on both coasts.
The leadership of both firms, including PMRG Chairman & CEO Rick Kirk, will remain intact, and the combined company will maintain their primary office locations in Washington, D.C., and Houston. Both PMRG and Madison Marquette will continue to operate under their current names following the merger.
Big projects on both sides
Madison Marquette maintains offices in major urban gateway markets including New York; Washington, D.C.; Fort Lauderdale, Fla.; San Francisco; Seattle; and Los Angeles.
Its major projects include the $2.5 billion District Wharf (a/k/a The Wharf) in Washington, D.C., in partnership with PN Hoffman; the Asbury Park Boardwalk redevelopment in New Jersey, N.J.; the revitalized District La Brea in Los Angeles; and Pacific Place in Seattle.
Through offices in Houston; Atlanta; Washington, D.C.; Boston; and Irvine, Calif., PMRG leases, manages and provides investment and development expertise across a portfolio of office, industrial, medical and multifamily space in 17 states.
Its signature projects include trophy office property 3737 Buffalo Speedway and 2929 Wesleyan, a landmark 40-story multifamily development in Houston, as well as The Confluence, a luxury multifamily tower in Denver; and Mesa Acute Care Hospital in Mesa, Ariz.