Recap Gives GVA Advantis New Owner, New Home
- Jun 09, 2008
As part of a recapitalization deal, a Washington, D.C.-based private equity group co-founded and controlled by Jeffrey Neal will take a controlling interest in GVA Advantis, an Atlanta-based commercial real estate services company. In addition, GVA Advantis, which has 15 offices across the Mid-Atlantic states and the Southeast, will now be headquartered in Washington, D.C. Neal is the new chairman of GVA Advantis, and Richard Pogue, former president of Koll Northern California and chairman of CBRE’s Canadian operations, is the new CEO. GVA Advantis employs about 400 people, leases and manages more than 30 million square feet of commercial facilities, and had a transaction volume of about $1.5 billion in 2007. GVA Worldwide is an international network comprising more than 3,500 real estate professionals and serving markets in 20 countries. In 2006, its members completed $26.5 billion in transactions and managed more than 150 million square feet of office, industrial, retail and specialized property.