Rockville-based developer Promark Real Estate Services and property management company Vanguard Realty Group are joining forces.
The merger, announced Monday, creates Promark Partners, a real estate firm that will develop, own, lease, manage and invest in commercial real estate. The terms of the deal were not disclosed.
Thomas Fauquier will lead the company as CEO and Bob Eisinger will serve as managing member. The company has three other principals, Managing Director of Asset Management Robert Eisinger, Managing Director of Development Peter McLaughlin and Managing Director of Commercial Leasing and Sales Gregory Klein.
Before merging, Promark and Vanguard had worked together on multiple Montgomery County projects. The team converted an office building into the 102-unit Octave 1320 condo building in Silver Spring, and last month received county approval for a 145-unit project in Bethesda that will kick off the transformation of an area the county has dubbed the "Pearl District."
"Combining the resources of these two companies brings together the energy and talents that today’s real estate industry demands and will strengthen our ability to deliver superior results to our clients and partners," Fauquier said. "This team has the ideal mix of personnel and properties to be successful."