Real estate consulting firm formed
Four real estate industry professionals recently formed a national real estate consulting firm, Gallin Glick Sullivan O’Keefe. The firm, headquartered in New York, aims to advise investors, lenders, government agencies and other companies on loans and acquisitions. Henry Gallin is a former developer, owner and broker; Michael Glick has operated portfolios of multi-family, industrial and office properties; Frank Sullivan has sold more than $15 billion in commercial property; and Ray O’Keefe was most recently president of Grubb & Ellis New York and the company’s director of international operations.
Guardhill picks up IndyMac retail division
Guardhill Financial Corp., a Manhattan-based mortgage brokerage, has found new opportunities in a credit crunch that has led banks to scale back their mortgage lending. The 17-year-old company, headquartered at 950 Third Avenue at 57th Street, recently hired 30 new employees and plans to expand its New Canaan, Conn., office and open a new office in Jericho in Nassau County within the next several months.
Massey Knakal seeks equity partners
The top executives of Massey Knakal Realty Services have been reaching out for financial partners as the commercial real estate sales firm struggles through one of the toughest markets in years. Industry sources said co-founder and CEO Paul Massey Jr. and co-founder and chairman Robert Knakal are seeking partners to provide an equity stake. Massey said the company has held conversations with possible funders, but would not elaborate on any possible structural changes to the firm.
Corzine models new NJ board after REBNY
New Jersey Governor Jon Corzine is copying New York City in his latest bid to revitalize the Garden State’s sagging economy. Last month, Corzine announced the creation of a New Jersey real estate advisory board that a spokesperson for Corzine’s economic growth office said was modeled after the Real Estate Board of New York. The idea behind the New Jersey board, which will serve as an informal advisor to the governor, is to bring industry executives together with government officials to brainstorm policies and stimulate real estate development, said the spokesperson, Jennifer Monaghan, from the state’s Office of Economic Growth.