Equis Corp. receives $17 million government contract with GSA The U.S. General Services Administration (GSA) has awarded-based Equis Corp. three major contracts worth $17 million to provide national realty services to the GSA's $2.3 billion per year leasing program. Equis will assist the GSA in leasing privately owned properties, with services ranging from initial space requirements through occupancy and post-occupancy functions associated with the new leases. The GSA facilities primarily considered in the contract are located in the South, Midwest and West Coast areas of the nation.
GSA's offices will be supported by additional Equis offices including Chicago, Los Angeles, Houston, San Diego, San Francisco, Atlanta, Detroit, Phoenix and Denver. Equis' contracts were the most awarded any private real estate firm in the United States. Equis has 30 offices nationwide with more than 200 employees; it completed approximately $3 billion in client service transactions in 1996.
Reichle Klein Group forms partnership with CB Commercial
Toledo, Ohio-based Reichle Klein Group has formed a partnership with CB Commercial Partners, a wholly owned subsidiary of CB Commercial Real Estate Group Inc., one of the nation's leading commercial real estate service providers. The partnership creates an organization that spans 170 cities in the United States and links together referrals, training, technology and a shared information base. Reichle Klein is a full-service real estate group providing, consulting and asset property management throughout northwest Ohio and southwest Michigan.
Archon Group awards exclusive leasing assignment
Draper and Kramer Inc., a Chicago-based property and financial services firm, has been awarded a management and leasing assignment controlled by Dallas-based Archon Group. The portfolio includes 1,800 multifamily units located in Colorado, Illinois and Indiana, as well as 130,000 sq. ft. of office space with 33,000 sq. ft. of retail in Colorado. With the new assignments, Draper and Kramer now manages more than 650,000 sq. ft. of office and retail for the Archon Group.
TriNet Corp. forms property management subsidiary
San Francisco-based TriNet Corp. (NYSE:TRI) has formed a property management subsidiary, TriNet Property Management Inc., and opened an office in Atlanta. The subsidiary will manage various properties in TriNet's 25-state portfolio, including RiverEdge Summit, a 440,362 sq. ft. office highrise in suburban Atlanta.
TriNet Corporate Realty Trust Inc., is a real estate investment trust with offices in San Francisco, Philadelphia and Jacksonville, Fla. The REIT acquires and manages major office and industrial properties leased to large corporations such as International Business Machines Inc., located in the RiverEdge Summit complex. TriNet's portfolio consists of 97 properties comprising approximately 14.7 million sq. ft. in 25 states and has a total market capitalization value of nearly $1 billion.
Parthenon Group and DGHM form alliance targeting REITs
The Parthenon Group, an Atlanta-based multidisciplined real estate firm, has formed an investment group focusing on investment management of real estate securities with N.Y.-based Dalton, Greiner, Hartman, Maher & Co. (DGHM). The alliance allows the two groups to combine their skills targeting the real estate business with REIT investment management and REIT securities research.
The Parthenon Group is presently involved with more than 6 million sq. ft. of leasing and development space and is best known for the directing of Peachtree Center, Atlanta's largest mixed-use office project. The real estate firm is one of the few to have an extensive history of REIT investment research and advisory services.
Banc One Capital forms alliance with Boston Financial
Banc One Capital Corp., the Columbus, Ohio-based investment and merchant banking arm of Banc One Corp., and Boston Financial, Boston, have signed a letter of intent to form an alliance to generate extensive real estate investment and investment competencies to benefit a combined client portfolio. Banc One Capital has been expanding its capabilities in real estate and commercial mortgage capital markets through strategic alliances, joint ventures and internal growth.
Boston Financial is a privately owned real estate investment firm serving institutions, corporations, investors and real estate professionals. At present, the firm has $6 billion in assets under management with real estate investments in 49 states and is ranked the 10th-largest investor and fifth-largest asset manager of multifamily properties in the nation. Banc One Corp. has assets of $101.6 billion and operates 1,502 offices nationwide.
First Union Corp. announces partnership with Maher & Co.
Thomas J., Maher & Co., a commercial mortgage banking firm based in Pennsylvania, has formed a partnership with First Union Corp. to provide commercial mortgage and capital markets real estate services to First Union customers in Pennsylvania, Delaware, New Jersey and Maryland. Maher & Co. has operated in the Northeast for more than 18 years and currently manages more than $500 million in commercial mortgages for its clients. First Union Corp., the nation's sixth-largest bank holding company, had more than $143 billion in assets as of June 1997.