The expansion of Avison Young could potentially create more property management jobs in Maryland.
The company just acquired Realty Management Company, a Bethesda, Maryland-based real estate firm that provides property management, facility management and engineering services.
The commercial real estate services company said the merger expands Avison Young’s market and business line coverage in the Metro Washington area. The change in ownership adds 37 employees to Avison Young’s Washington, DC-area operations. Effective immediately Donna B. Kay, President of Realty Management Company, becomes a Principal of Avison Young.
The newest American office marks Avison Young’s 11th location outside of Canada, the company’s third Metropolitan Washington location, and the next step in the firm’s expansion strategy. Terms of the acquisition were not disclosed.
Over the past three years, Avison Young has grown from 11 to, now, 28 offices in 25 markets and from 300 to more than 900 real estate professionals across Canada and the U.S.
The acquisition will add 2 million square feet to Avison Young’s approximately 50 million square feet (msf) of retail, industrial and office properties under management in Canada and the U.S.
“We are pleased to have Donna and her highly regarded team join Avison Young in our rapidly-growing DC Metro Region - a key market for us. Once again, we are adding individuals who are respected for their leadership and who will be tremendous additions to our Principal-led organization,” comments Rose. “We are committed to providing our clients with a full range of real estate services, including best-in-class property management. As well, Bethesda is a core business center in Metropolitan Washington and a location from which we can strategically expand Avison Young into Suburban Maryland.”1f92