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WASHINGTON, DC-A private equity group headed by local real estate executive Jeffrey Neal, has recapitalized real estate services company GVA Advantis, bringing it under his control. Neal’s firm will have controlling interest in GVA Advantis, of which he will be chairman, and act in a leadership capacity. He is also CEO of Monument Realty.

“This is a great opportunity for diversifying and expanding my business and investment endeavors into a new spectrum of the real estate industry,” Neal says in a prepared statement. “With the planned growth and retooling of GVA Advantis, we will be able to offer a wide variety of real estate expertise to a broader range of clientele than my past businesses have allowed. Our goal in the next five years is to continue providing the highest level of services to all of our clients as well as expanding Advantis’s capabilities into contiguous markets and new product areas where my strengths can add value to the clients’ businesses.”

Changes in GVA Advantis’ mandate include new growth targets within markets–in which they are already active–and a change in headquarters from Atlanta to Washington, DC.

Richard Pogue, former president of Koll Northern California and chairman of CBRE’s Canadian operations, is the new CEO of GVA Advantis. Pogue and Neal did not respond in time for deadline.

GVA Advantis’ story since its inception has been one of steady growth. In its first incarnation it was a Virginia-based firm called Goodman, Segar, Hogan, specializing in commercial brokerage services. Over time–and in particular, within the last year–it began to focus on the southeastern markets, opening offices in Richmond, Atlanta, Raleigh, Jacksonville, Roanoke, Newport News, Tampa and Orlando. It also expanded its services to include development, construction and property management.

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