PHILADELPHIA-Minneapolis-based NorthMarq Capital has formed an alliance with King of Prussia-based Jackson Cross Partners. The regional commercial real estate services firm was formed in October 2003.

The alliance includes an equity investment from NorthMarq Advisors, but neither Walt D’Alessio, vice chairman of NorthMarq Capital, nor Lou Battagliese, one of the three founders of Jackson Cross Partners, would disclose the amount of that investment. “We’ve talked about affiliations with regional full-service brokerage firms,” D’Alessio tells GlobeSt.com. “We’re trying it out on a local basis with seasoned professionals we know and have regard for. This is a test–an experiment–for NorthMarq. If it works out here, we’ll try it elsewhere.”

“Jackson Cross’s three founding partners are still majority owners,” Battagliese says. “In our eyes, an important aspect of this is not only NorthMarq’s commitment to Jackson Cross Partners, but also an indication of how they feel about the Philadelphia market,” he says, adding, “The alliance expands our service lines to include financing.”

The three Jackson Cross founding partners along with D’Alessio and Joe Sweeney and Don Lonergan, managing director and SVP, respectively, of NorthMarq, will jointly manage the alliance. “It provides NorthMarq with a broader range of services for our clients, including brokerage and management,” D’Alessio says. “We’ll share the management effort, sell each other’s services with existing clients, and, hopefully, attract more.”

D’Alessio is headquartered in NorthMarq’s Center City office. It opened here following the company’s acquisition of Legg Mason Real Estate Services and that company’s 17 eastern regional offices in September 2003. The two other Jackson Cross founding partners are John Morrissey and Pete Davisson. All three are alumni of Jackson-Cross Co., a locally based firm that was acquired by Insignia/ESG in 1998. Since the partnership was founded 18 months ago, the company has expanded to a staff of 18 in offices in suburban Philadelphia, New Jersey and Delaware. The alliance with NorthMarq also gives the firm a Center City location, its fourth in the region.

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