Normandy Real Estate Partners, a Morristown, N.J.-based private equity firm, said that Cassidy Turley will take over leasing for 1.1 million square feet of its New Jersey commercial real estate portfolio as part of a broad strategic alliance between the two firms. As part of the deal, Raymond Trevisan, a principal at Normandy, will join Cassidy Turley as managing principal and head of its New Jersey operations. William O’Keefe, senior vice president at Normandy, will join Cassidy Turley in that same capacity.
“We have benefited from a very productive and longstanding relationship with Cassidy Turley and this alliance will further strengthen our leasing initiatives in the New Jersey market,“ said Finn Wentworth, a founder and managing principal of Normandy, in a statement.
Normandy manages about 15 million square feet of real estate nationally. It wasn’t immediately clear what percentage of Normandy’s New Jersey overall holdings will be managed by Cassidy Turley, but the portfolio includes several prominent office complexes, such as 25 Independence Blvd, a 107,000-square-foot office building in Warren, N.J., and Park Place, a 352,000-square-foot complex in Florham Park, N.J.
In December, Normandy acquired Center 78, a 371,000-square-foot office complex in Warren, N.J., and launched a $12 million renovation.
A spokesperson for Normandy said the alliance does not involve any acquisition or sale of equity between the two companies.