GVA Advantis forms alliance with development group
- February 11, 2009
Washington-based real estate firm GVA Advantis has added development services to its product line. Through an alliance with Urban Realty Advisors — another Washington company — Advantis will provide development, project and construction management for third-party clients.
Terms of the deal were not disclosed. Urban Realty Advisors is headed by principals William Herman and Eric May. Among current projects is a four-hotel project for Thayer Lodging Group Inc. in Annapolis, MD. URA also is the national real estate adviser to Service Employees International Union and recently completed the redevelopment of a 200,000-square-foot building in Washington as the union’s international headquarters.
Advantis, with 16 offices in the Southeast including Richmond and Norfolk, formerly specialized in brokerage before it was acquired last June by Jeff Neal, its current chairman. He is positioning the firm to become a full-service real estate company with a bigger footprint in Washington.