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JLL Acquires Assets of CT Brokerage Division

STAMFORD, CT-The Ashforth Co.--a Fairfield County, CT--based commercial real estate firm--is selling assets of its brokerage division.

By Ryan Clark | Updated on October 31, 2008

STAMFORD, CT-Jones Lang LaSalle is acquiring assets of the Ashforth Co.’s Fairfield County, CT-based brokerage division. Ashforth is also parting ways with five brokers–Ed Tonnesson, Jeff Gage, George Walker, George Bagley and Paul Tortora–whom JLL will hire.

Ashforth’s ownership role has continued to expand and distracts and/or minimizes the necessity for the brokerage division, according to as statement from Ashforth’s co-chief executive officer, Darrell Harvey. “[The] team led by Ed Tonnessen and Jeff Gage would like to expand the brokerage business and our company’s overall strategy is more focused on the acquisition of properties,” Harvey explains in a statement. “These two objectives are not necessarily compatible. Jones Lang LaSalle is a great company and a better long term platform for the brokerage team to join.” The goal, he continues, is to let each team focus more efficiently on their “core business.”

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