SOURCE: Sovereign Capital Management Group, Inc.

August 10, 2011 23:29 ET

Sovereign Capital Management Group Partners With Infinity Urban Century to Purchase Daymark Realty Advisors

SAN DIEGO, CA--(Marketwire - Aug 10, 2011) - Sovereign Capital Management Group, a San Diego-based real estate investment company, today announced the purchase of Daymark Realty Advisors Inc., a wholly owned subsidiary of Grubb & Ellis Co. Sovereign partnered with Infinity Urban Century, a New York City-based investment affiliate of Infinity Real Estate. The deal closed on August 10, 2011.

Grubb & Ellis entered the tenant-in-common business as part of the company's 2007 merger with NNN Realty Advisors, Inc. Daymark was responsible for overseeing management of the entire Grubb & Ellis tenant-in-common portfolio and providing specialized management services to the owners of the tenant-in-common properties. With this disposition that was part of a strategic realignment, Grubb & Ellis has fully exited the tenant-in-common business.

Daymark is one of the largest real estate asset management companies in the country, serving more than 5,200 clients and overseeing a nationwide portfolio of commercial property totaling approximately 33 million square feet, including more than 8,700 multifamily units.

"We are extremely pleased to have partnered with Infinity Urban Century on the purchase of Daymark, one of the largest real estate asset management companies in the United States," says Todd Mikles, Sovereign's President and Chief Executive Officer. "We feel that Sovereign and Infinity Urban Century will strengthen Daymark's competitive advantage through our combined real estate management expertise and asset capital solutions."

Headquartered in San Diego, Sovereign Capital Management Group, Inc. and its closely held affiliates have grown to include nationwide asset management, property management, advisory services, private equity syndications and various property holdings across the United States. Operating with the mission of providing value and long-term stability through real estate investment, Sovereign has been directly involved in the successful development and management of multi-family units, attached single family condominiums, medical office buildings, general office, flex-industrial properties, retail properties and specialized use buildings. For more information, visit www.sovcapital.com or contact William White at (800) 861-5006.

Contact Information

  • CONTACT:
    William White
    Senior Vice President
    (800) 861-5006