Madison Marquette, PMRG finalize merger. The new company is based in D.C.
June 14, 2018
By The 2030 Group
By: Michael Neibauer
Madison Marquette and PMRG are now one.
D.C.-based Madison Marquette, a co-developer of The Wharf, and Houston-based PMRG finalized their merger on Wednesday, the pair announced, forming a single new, full-integrated commercial real estate firm with 600 professionals and a major presence from the south to both coasts.
Terms of the deal, which was first revealed last month as being in the final stages of negotiations, have not been announced. The combined company will be headquartered in the District, with employees and functions spread out across 12 regional U.S. offices.
Leadership of both firms, including Madison Marquette Chairman Amer Hammour, will remain in place. The two firms will retain their individual brands for now until the combined company reveals its new name. Both are now under the umbrella of Capital Guidance, a privately held, international investment firm.
“Our growth strategy is to be responsive to client demand for expanded investment and property services and for broader expertise in more markets. Merging operations with PMRG meets that demand,” Hammour said in a release. “Our combined capabilities also make us uniquely qualified to meet shifting market demand for mixed-use development, management and investment expertise.”
In addition to The Wharf, Madison Marquette’s portfolio includes the Asbury Park boardwalk redevelopment in New Jersey, District La Brea in Los Angeles and Pacific Place in Seattle. It manages an investment portfolio worth about $5 billion provides third-party management services for mixed-use and retail projects across the country.
PMRG leases, manages and provides development services for projects across 17 states and 33 markets from Houston to Denver to Mesa, Arizona.