Search
 

MB Real Estate Acquires Construction Management Firm

CHICAGO-The building and leasing management company enters into an agreement to purchase Keystone Real Estate Services, a local construction and project management outfit.

By Dana Dubriwny | Updated on October 20, 2005

CHICAGO-Building and leasing management firm MB Real Estate is acquiring locally based Keystone Real Estate Services in order to expand its project services group. Keystone, a construction and project management firm, is providing expertise it has learned in the three years since its inception. The construction management company boasts $165 million in completed projects.

The acquisition shouldn’t come as a surprise, says MB’s Kevin Purcell, senior vice president and managing director of asset management. For the past year and a half, MB and Keystone have been working on a 129 single-family home development on the city’s South Side. Keystone has assisted MB on office projects as well.

“Either we were going to hire people who had that expertise or we were going to acquire a company with the expertise,” Purcell tells GlobeSt.com. “This relationship was already in place; it was a good fit.” While Purcell admits that this acquisition will add value to MB, he could not disclose the company’s costs related to the purchase.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.