United Commercial Realty and Prizm Partners Merge
DALLAS, Texas, December 12, 2008 – Dallas-based United Commercial Realty and Prizm Partners have merged to position the retail real estate firm as a leading third-party provider of integrated, comprehensive asset management, property management and leasing services. The firm will continue to operate under the UCR name, which currently provides advisory, project leasing, property management, asset management and other real estate services to clients in eight states with a portfolio in excess of 30 million square feet.
“Clients value and more frequently require integrated, comprehensive asset management, property management and leasing services, and this is particularly prevalent today as lending institutions and investors are inheriting increasing numbers of returned assets and need an objective partner to manage, lease and dispose of them,” said Mickey Ashmore, CEO of United Commercial Realty. “Prizm is well known for their critical understanding of positioning and managing a property to achieve its full potential today as well as their forward-thinking vision of evolving assets to capture the next wave of product and consumer shopping trends.”
Scott Weaver, former CEO of Prizm Partners, joins UCR as president of the firm’s newly formed UCR Asset Services division and will direct client services, asset management and strategy.
“UCR and Prizm have held a joint venture relationship for almost 10 years, which is why our joining forces and creating synergies was a logical and progressive decision for both firms,” said Weaver. “As asset managers, we develop and execute sound property strategies for our clients that will enhance UCR’s already strong project leasing and advisory services.”
UCR Asset Services will retain Prizm’s employees and its regional offices in Illinois and California. Current UCR Asset Services clients include Prudential Real Estate Investors, The State Teacher Retirement System of Ohio, U.S. Advisors, Archon Group, Corrigan Properties Inc. and Capmark Finance.