Norwalk, CT – Jonathan Davis, Chief Executive Officer of The Davis Companies, and Paul Marcus, Managing Principal of Marcus Partners, recently announced that as of April 1st they are implementing the final phase of their joint venture reorganization. This planned next step relating to their Connecticut holdings is the conclusion of a process that began in Boston in 2008. Davis and Marcus will continue to jointly own all of the properties they acquired during their partnership together, sharing major decisions affecting their many existing jointly owned property ventures in Massachusetts, Connecticut and Florida.
Management will continue to be handled under the Davis Marcus Management and Davis Marcus Partners entities, which are joint ventures between The Davis Companies and Marcus Partners. The properties will be divided on an asset by asset basis and will be administered on behalf of their joint entities by their two companies. The separation is merely a formalization of their joint venture reorganization agreement. Both companies plan to remain active investors, developers and managers in the region.
“Paul and I have had an extraordinary partnership for 15 years, with many great successes. We remain friends,” said Jonathan Davis, CEO of The Davis Companies. “Our relationship with our tenants will remain as strong as ever and they will not be affected by this reorganization.”
“I am very proud of what Jon and I accomplished together in Connecticut and I am pleased that we will continue working together on the properties that we acquired and developed,” said Paul Marcus, Managing Principal of Marcus Partners, Inc.
With this step in the reorganization of the joint venture, Jonathan Davis will be relaunching The Davis Companies’ Connecticut operation and Paul Marcus will launch Marcus Partners in Connecticut. For more information about the Davis Marcus properties, please visit www.davismarcus.com