AJ Clarke Acquires Property Manager Fenwick Keats
Two years after selling off its brokerage arm to focus on property management, Fenwick Keats is no more.
AJ Clarke has acquired Fenwick, according to an announcement from both companies on Tuesday, in a move that will combine the operators of small to midsize buildings in Manhattan. Clarke will assume control of Fenwick's properties, which total more than 40 across Manhattan, and integrate five of Fenwick's 12 employees, The Real Deal reports.
To accommodate the change, AJ Clarke will move offices from 1881 Broadway to 250 West 57th St. by the end of the year. The company will occupy space on the seventh floor of the Billionaire's Row office building, which sits across the street from the site of Extell Development's Central Park Tower.
Fenwick CEO and founder Rob Anzalone told TRD he was not actively seeking buyers, but thought AJ Clarke's offer was "a good move for both companies." He will not be joining AJ Clarke as part of the move, but will serve as a consultant. Anzalone oversaw the sale of Fenwick Keats' brokerage arm to Sotheby's International in 2015.
