Real estate investment and operating firm Madison Marquette announced that it will merge with PMRG, a commercial property services company. The two will continue to operate under their existing names.
PMRG provides investment management, development and leasing services, predominantly in the South, and has roughly 180 million square feet of real estate under its control.
“We anticipate a highly complementary combination that significantly expands the capabilities of both firms,” said Madison Marquette Chairman Amer Hammour in a prepared statement. “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.”
Madison Marquette specializes in mixed-use projects in major cities — among them The Wharf, in Washington, D.C.; and Pacific Place, in Seattle.
The leadership of both companies will remain in place, and they will maintain their headquarters — Madison Marquette in Washington, D.C., and PMRG in Houston. Madison Marquette says the merger will occur in June.
By Edmund Mander