New Miller Samuel partnership
Real estate appraisal firm Miller Samuel has entered into a joint venture with Radar Logic, a company that enables the creation of financial derivatives on various types of real estate. The partnership, Radar Logic Research, will publish research products. Jonathan Miller, the president of Miller Samuel, will be the new company’s chairman.
Marcus & Millichap expands Brooklyn office
Marcus & Millichap Real Estate Investment Brokerage Company has relocated and expanded its Brooklyn office to 16 Court Street. The 2,000-square-foot office will house up to 60 investment sales specialists.
Two Trees to launch first general sales office
Two Trees Management plans to open Two Trees Real Estate, its first general real estate sales office, the New York Observer reported. The office is scheduled to open by early May and will broker listings in Two Trees’ developments, as well those as in other projects.
REIT forms real estate securities business
New York-based REIT Gramercy Capital Corp. has announced the creation of a real estate securities group. Newly appointed senior vice president Joseph Romano will lead the group, which will focus on the acquisition, trading and financing of real estate-related securities.
Andalex Group launches hospitality and gaming company
The Andalex Group, a developer whose projects include the 237-unit Arris Lofts condo in Long Island City, has launched Silver Entertainment LLC, a new hospitality and gaming company. Hugh Shaddick was hired to head the new venture as senior vice president. Silver Entertainment will focus on the acquisition and development of casino gaming and resort operations in the United States, the Caribbean and Latin America.
Commercial real estate company Enigma Financial launches
Principal Ryan Hyman has launched a New York-based commercial real estate financing and sales company, Enigma Financial. Enigma will arrange both acquisition and refinancing loans for commercial real estate transactions nationwide. The firm will also assist clients in buying and selling commercial properties.
IFIL closes on C & W acquisition
IFIL Group, an Italian investment trust, closed in early April on the 71.5-percent acquisition of Cushman & Wakefield from the Rockefeller Group. Cushman & Wakefield management and employees own the remainder of the company. The deal was first announced in December.
JP Morgan Property Exchange launches alliance program
JP Morgan Property Exchange has created a Strategic Alliance Program for real estate and accounting firms nationwide. The program will allow JP Morgan Property Exchange to enter formal alliances to provide services including 1031 exchanges. Michelle Allan-Thissell will head the new program along with Jordana Chutter.