Madison Marquette and Roseview Group Agree to Merge
In conjunction with the deal, which is expected to close within the next 45 days, the two firms in a joint announcement reported that Roseview Group CEO Vince Costantini will serve as CEO of the combined firm.
WASHINGTON, DC— Real estate owner, investor and development firm Madison Marquette and Boston-based Roseview Group, a boutique institutional real estate investment and advisory firm, have signed a definitive merger agreement.
In conjunction with the deal, which is expected to close within the next 45 days, the two firms in a joint announcement reported that Roseview Group CEO Vince Costantini will serve as CEO of the combined firm.
Madison Marquette, which is headquartered in Washington, DC, states the merger will facilitate the firm’s plans to grow its platform by bringing capital markets and corporate advisory capabilities to the company and augmenting its national full-service platform. The combined company will be headquartered in Washington, DC. No financial terms of the transaction were released.
The Madison Marquette-Roseview merger follows last year’s merger deal between Madison Marquette and Houston-based PMRG, a real estate firm that specialized in project leasing, property management, investment management and development services.
“As we sought to expand both our investment and property services practices in 2018, we were seeking the best talent as well as the best cultural fit for our company and our clients,” states Amer Hammour, executive chairman of Madison Marquette. “Vince and the Roseview team stood out for many reasons.”
One reason Hammour cited was Roseview’s connection with PMRG, noting that the two firms had successfully partnered on several value-added investments.
“In addition, Roseview was aligned with our vision and investment strategy,” Hammour says. “We share a commitment to leveraging a fully integrated services platform to create value and to deliver transformative, innovative projects for our clients and investors.”
Madison Marquette says Roseview will bring its corporate advisory practice, which provides value-added asset management services to corporations with complex real estate portfolios and under-utilized property holdings.
Costantini has more than 35 years’ experience as a real estate fund manager, investor and institutional advisor to his new role as CEO of Madison Marquette.
“Our two companies share a commitment to providing the best advice and service in an evolving market. The combination of Madison and Roseview creates a national platform that provides a unique new industry choice for owners, investors and corporations seeking a service partner with an ownership perspective focused on long-term value creation,” states Costantini.
Costantini will work in close partnership with Madison Marquette’s Hammour and president John Fleury as a managing principal of the combined firm. Costantini will have primary responsibility for leading and expanding the company’s investment management practice and Fleury will focus on the continued growth and optimization of Madison Marquette’s integrated third-party services. With the firm’s expanded leadership team in place, Hammour will continue to lead major strategic projects, while also focusing on investment strategy and client development, the company states.
“With these recent moves, Madison is meeting the challenge of today’s market—which requires insight and creativity, as well as superior execution capabilities,” Fleury says. “We will be large enough to provide integrated investment and property services across most major markets in the US, and yet still focused enough to provide clients and investors with the personal service and attention to detail that they highly value.”
Founded in 1992, Madison Marquette partners with global, institutional and private investors on mixed-use, retail, office, medical, industrial, senior living and multi-family properties. The company has a diverse portfolio of 330 assets in 24 states and manages an investment portfolio valued at more than $6 billion. Madison Marquette employs more than 600 professionals serving 13 regional markets.
Roseview, which was founded in 2001, operates out of offices in Boston, Seattle, Philadelphia and Western Michigan.