Madison Marquette To Merge With Boston Firm In Latest Expansion
Madison Marquette, one of the lead developers behind The Wharf megaproject, is growing at a rapid pace with its second merger in as many years.
The D.C.-based development firm announced Monday it reached a deal to acquire The Roseview Group, a real estate investment and advisory firm out of Boston. Terms of the deal, expected to close within 45 days, were not disclosed.
The Roseview Group has a 20-person team with offices in Boston, Seattle, Philadelphia and Michigan. Roseview CEO Vince Costantini will become CEO of Madison Marquette, serving under Executive Chairman Amer Hammour.
"The combination of Madison and Roseview creates a national platform that provides a unique new industry choice for owners, investors and corporations seeking a service partner with an ownership perspective focused on long-term value creation," Costantini said in a release.
The deal comes on the heels of Madison Marquette's 2018 merger with Houston-based PMRG, creating a nationwide real estate company with $7B in assets under management. PMRG had previously partnered with Roseview on multiple office investment deals, one of the factors that gave Hammour the confidence to merge with the firm.
"As we sought to expand both our investment and property services practices in 2018, we were seeking the best talent as well as the best cultural fit for our company and our clients,” Hammour said in a release. “Vince and the Roseview team stood out for many reasons."
Madison Marquette is working on major developments in Fort Meyers, Florida, Seattle, the Jersey Shore and D.C., where Phase 1 of The Wharf opened in October 2017. Madison Marquette, partnering on the project with PN Hoffman, is now headquartered in Phase 1's trophy office building at 1000 Maine Ave. SW. The team is preparing for the 1.2M SF second phase, with a groundbreaking event scheduled for March 30.
Roseview focuses on workforce housing and value-add office investments, and has properties near Boston and Atlanta and in Florida and Texas.
