Marcus, Davis Launch and Relaunch Firms

BOSTON-Casting his ship amidst choppy economic seas, veteran real estate investor Paul Marcus has started a new company that will follow a range of paths in three East Coast markets. Although he will continue to co-own and operate pieces of a four million-sf portfolio bought or built with colleague Jon Davis since 1993, the founder of Boston-based Marcus Partners outlines an ambitious platform of his own, now seeking deals. Davis, meanwhile, announces re-launch of the Davis Cos., the entity in place before Marcus was named president in 2006 and the handle changed to Davis Marcus Partners.

“It’s a positive for everyone,” Marcus tells GlobeSt.com. “There are new and promising things happening every day, and we look forward to pursuing the opportunities we think are going to be out there.” The effort is underpinned by a staff featuring acquisitions ace William McAvoy; design/construction specialist David Fiore, who will lead the firm’s Connecticut office; and Mark Stroud, a 25-year industry professional who is running the Florida operations. All were at Davis Marcus Partners, as was SVP of Development Jan Machnik, and SVP of Construction and Development Peter Scoba. Finance Director Lori Shea joins the firm from Lyme Properties.

About three-quarters of the 40 Davis Marcus Partners employees are staying on at the Davis Cos. Its leader reports his firm is hiring several senior real estate professionals to fill in the gaps of those departing for Marcus Partners, which will be headquartered at 75 Park Plaza in Boston’s Back Bay. Davis is already hitting the ground running with his resurrected firm, unveiling the purchase of a $75-million loan pool backed mainly by properties in the southeast. “Things are great,” says Davis. “We are excited and energized by what we see.”