WASHINGTON, D.C. – GVA Advantis has completed a recapitalization with a private equity group in Washington, D.C., controlled by Jeffrey Neal. Neal's firm will have controlling interest in GVA Advantis and will providing equity, leadership and vision for the company.
“This is a great opportunity for diversifying and expanding my business and investment endeavors into a new spectrum of the real estate industry. With the planned growth and retooling of GVA Advantis, we will be able to offer a wide variety of real estate expertise to a broader range of clientele than my past businesses have allowed,” Neal said.
Neal also stated that his private equity group is comprised of individual investors with specific real estate and other industry experience and expertise that will be instrumental to Advantis' future. The group was assembled to assist senior management with setting the strategic direction and leadership of the company.
“Our goal in the next five years is to continue providing the highest level of services to all of our clients as well as expanding Advantis' capabilities into contiguous markets and new product areas where my strengths can add value to the clients' businesses,” Neal said.
Immediate steps will be taken to size the company for growth within the markets already served by the company, as well as other markets in the U.S. In addition, the headquarters of GVA Advantis will move from Atlanta to Washington, D.C.
Richard Pogue, former president of Koll Northern California and chairman of CBRE's Canadian operations, has been named the new CEO of GVA Advantis.