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Prescott Severs Transwestern Ties, Renews Independent Status

NEW YORK CITY-It's three-year alliance with the Chicago-based firm having run its course, Prescott is setting up shop on Park Avenue and will expand its menu of services while instituting a global strategy.

By Glen Thompson | Updated on June 27, 2002

NEW YORK CITY-Three years after merging its activities with Transwestern Commercial Services LLC, real estate merchant banking firm the Prescott Group Inc. has reestablished itself as an independent entity, based here. The firm’s principals expect to expand the firm’s scope as well as its geographical reach.

While it was never acquired by Transwestern, Prescott formed an alliance with the Chicago-based firm in 1999. Armed with its newly reclaimed autonomy, the operation will continue to provide services to investors, institutions, corporations, investment managers, family groups and developers. Moreover, Prescott managing directors Theodore R. Gamble Jr. and Susan L. Stupin will also focus more intently on arranging the firm’s investments as a principal in assets and operating entities with a group of institutional and private investors. Prescott’s new headquarters will be at 445 Park Ave.

“We left Transwestern because we wanted to expand our activities as a principal and as an advisor,” Stupin tells GlobeSt.com. “We are seeing significant cross-border capital flows and international real estate activity and in our new role as an independent entity we expect to be able to fully capitalize on the volume of business that we’re seeing with offshore sources both in the US and in Europe.”

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