GVA Advantis Announces Recapitalization

 

 

WASHINGTON, DC, June 9, 2008 – GVA Advantis, a full-service real estate services company specializing in development, construction, property management and brokerage needs, announced today that it has completed a recapitalization with a private equity group based in Washington, DC, and controlled by Jeffrey T. Neal. Neal’s firm will have controlling interest in GVA Advantis; providing equity, leadership, and strategic vision for the company.

Jeffrey T. Neal, co-founder and principal of a Washington-based real estate development company and the newly-appointed Chairman of GVA Advantis, states, “This is a great opportunity for diversifying and expanding my business and investment endeavors into a new spectrum of the real estate industry. 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.”

Neal’s private equity group is comprised of individual investors with specific real estate and other industry experience and expertise that will be instrumental to Advantis’s future. The group was assembled to assist senior management with setting the strategic direction and leadership of the company. The most significant change will occur in the culture of delivering a full line of services. GVA Advantis will be able to take advantage of the intellectual capital within the company, as well as Neal’s and his investors’ diverse expertise, and strengthen its service and leadership to their clients. Immediate steps will be taken to size the company for growth within the markets already served by the company, as well as other markets in the United States. In addition, the headquarters of GVA Advantis will move 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 and also provides proven leadership immediately.  Pogue states, “GVA Advantis has a rich history and we will build our future on that foundation. It was first known as Goodman, Segar, Hogan, based out of Virginia, specializing in commercial brokerage services. Over time it grew with offices in Richmond, Atlanta, Raleigh, Jacksonville, Roanoke, Newport News, Tampa and Orlando and expanded its services to include development, construction and property management. It is this type of vision and leadership that will once again take GVA Advantis to the next level.”

GVA Advantis is a full-service real estate firm specializing in leasing, managing and selling office, industrial, retail and other commercial real estate properties and sites. The company also provides tenant representation and corporate real estate, construction and project management services. GVA Advantis employs approximately 400 people, leases and manages more than 30 million square feet of commercial facilities, and had an annual transaction volume of approximately $1.5 billion in 2007. Including its headquarters in Washington DC, the company has 15 regional offices throughout the Southeast and Mid-Atlantic. For more information, visit gvaadvantis.com.

GVA Worldwide is an international organization of real estate industry leaders serving key markets in 20 countries. The organization comprises more than 3,500 real estate professionals in 90 markets worldwide. In 2006, GVA Worldwide partners collectively completed $26.5 billion in transactions and managed more than 150 million square feet of office, industrial, retail and specialized property.