Avison Young Inc, a portfolio investment of Canadian private equity firm Tricor Pacific Capital, has acquired Remington Group Inc, a U.S. project management company. The financial details of the transaction were not published. Avison, a Toronto-based commercial real estate services provider, said the deal expands its business-line coverage in Philadelphia and commences its project management service offerings in San Antonio, Texas. Last month, the company acquired Chicago’s Mesa Development LLC.
Avison Young acquires project management firm Remington Group, Inc.
Purchase further expands Avison Young’s business-line coverage in Philadelphia; William Connor becomes Principal, 10 members join
TORONTO, May 4, 2015 /CNW/ – Mark E. Rose, Chair and CEO of Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has acquired Wayne, Pennsylvania-based project management company Remington Group, Inc.
The purchase further expands Avison Young’s business-line coverage in the Philadelphia metropolitan area and commences Avison Young’s project management service offerings in San Antonio, Texas. The change in ownership adds 10 employees to Avison Young’s operations. Terms of the acquisition were not disclosed.
Established in 1992, Remington Group is a project management and owner’s representative firm based in the Philadelphia suburb of Wayne, PA, with an additional office in San Antonio. The company provides business owners with planning, design, construction and relocation services. Advisory services include: preparing financial pro-formas that summarize capital and operating costs; conducting due diligence studies; developing and overseeing public and private partnerships; preparing lease construction terms; litigation support; and municipal entitlements.
Over the past two decades, Remington Group has managed the fit-out of more than 7.5 million square feet (msf) of office space, managed more than 2.5 msf of new construction, and relocated more than 500,000 people.
Effective immediately, Remington Group founder William Connor becomes a Principal of Avison Young and leader of the firm’s project management teams in Philadelphia and San Antonio. Connor brings 35 years of commercial real estate experience, primarily in the development and project management fields, to Avison Young. Prior to founding Remington Group, he worked with a private developer in the Philadelphia area.
“We are very excited to have Remington Group join Avison Young,” comments Rose. “This acquisition will not only expand our business-line coverage throughout Philadelphia and the East Coast, but also complement our existing project and property management services in Texas, and create new synergies between San Antonio and Avison Young’s offices in Houston, Dallas and Austin.”
Rose continues: “Bill has built a tremendous project management business over the last 23 years. Since 1992, Remington Group has succeeded in meeting the needs of business owners who are faced with the challenge of building, expanding or renovating facilities, yet lack in-house personnel with the experience, expertise or available time required to manage the process. Project management is a key component of our growth model, and we look forward to the significant contributions this team will make in further enhancing our relationships and reach.”
Also joining Avison Young from Remington Group are: Stephanie Hernandez, Director of Project Management; Adrienne Piselli, Project Manager; Michelle Flowers, Project Manager; Kate Milgrim, Project Manager; Bridgette Henner, Project Manager; Chris Rinnier, Project Analyst; Steve Frederick, Marketing Coordinator; Jacy Bracaliello, Director of Business Development; and Patricia Poe, Operations Coordinator.
According to Earl Webb, Avison Young’s President, U.S. operations: “Avison Young is a different kind of commercial real estate services firm. Our Principal-led ownership structure makes us unique, and to maintain our client focus, a strong, collaborative culture is imperative. Remington Group fits perfectly into our culture. Bill and his team have developed an outstanding reputation for reliable and consistent advice in asset acquisitions, development and project management strategies, and advisory services. Furthermore, Remington’s long-term clients have displayed great loyalty over the years, which speaks to the quality of the firm’s people and work. We’re thrilled to have Bill and his team on board.”
Avison Young opened its Philadelphia office in September 2013 with David Fahey joining as Principal and Managing Director, and the office has been steadily growing since then.
“We are very excited to have this talented group join Avison Young as we continue to build our business in the Philadelphia region,” says Fahey. “Remington’s track record of success will be an asset to our team, and it will be exciting to see the many business opportunities that will emerge from this acquisition. Bill and his team are the kind of exceptional people whom Avison Young requires to continue to provide the highest level of service to our clients.”
Over the past six years, Avison Young has grown from 11 to 66 offices and from 300 to more than 1,700 real estate professionals in Canada, the U.S. and Europe.
“Speaking on behalf of the Remington team, we’re delighted with the opportunity to join Avison Young and play an integral role in building a company that values the project management services platform as a core facet of its corporate strategy,” says Connor. “By combining our project management offerings with Avison Young’s globally recognized brand and broad range of real estate services, we are positioned to better service our clients. We’re also looking forward to collaborating with our new colleagues in the U.S., Canada and Europe to grow the company’s global project management service offerings.”
Today’s announcement comes on the heels of Avison Young acquiring Chicago-based Mesa Development, LLC on April 23, 2015.
With more than 35 years of experience in commercial construction and real estate, William Connor is recognized as a leader in the field of project management and owner representation. He has successfully managed the planning, design and delivery of a broad range of projects for clients, including the Philadelphia Zoo, Comcast, eBay, West Chester University and the Boy Scouts of America.
Prior to founding Remington Group in 1992, he worked with a private developer in the Philadelphia metropolitan area. During that time, he managed the development of Chesterbrook in Tredyffrin Township, PA. This planned, mixed-use community was one of the first of its kind in the state. He also managed the development of the Rittenhouse Hotel in Philadelphia and other commercial properties around the U.S.
Connor received his Bachelor of Science degree in building construction from Virginia Polytechnic Institute and State University. He later received his Master of Science degree in finance from Drexel University. Connor’s professional and community affiliations include: member of the Chester County Library Board and Wissahickon Hospice Advisory Board; Chair of Easttown Township’s Zoning Hearing Board; and past Chair of Easttown Township’s Board of Supervisors.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,700 real estate professionals in 66 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.
For further information/comment/photos:
• Sherry Quan, Principal, National Director of Communications & Media Relations,
Avison Young: 604.647.5098; cell: 604.726.0959
• Mark Rose, Chair and CEO, Avison Young: 416.673.4028
• Earl Webb, President, U.S. Operations, Avison Young: 312.957.7610
• David Fahey, Principal and Managing Director, Philadelphia, Avison Young: 610.276.1081
• William Connor, Principal, Avison Young: 610.637.7419
Avison Young was a winner of Canada’s Best Managed Companies program in 2011, 2012 and 2013 and has demonstrated its commitment to the program and successfully reapplied for the designation as a Gold Standard winner in 2014.
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