GVA Williams launches new asset management unit.

GVA Williams has announced the formation of Williams Property Advisors - a multi-disciplined property management affiliate that will redefine their approach to the financial and physical management of property throughout the United States.

The team of professionals will offer a variety of services such as leasing, asset management, financial management and property maintenance with single-source accountability.

Stephen Schofel, executive managing director of GVA Williams, will head the new unit.

Michael T. Cohen, president and CEO of GVA Williams, said "Williams Property Advisors combines the resources of numerous real estate professionals who possess complementary skills, so that we can offer clients myriad specialized services through a single contact. The level of service, the depth of expertise and the concentrated team approach will mean that property owners can tap into the most comprehensive property management services ever offered."

"Different from the traditional approach to management and leasing - which has individual management and leasing personnel independently serving a client in production-line fashion - the Williams Property Advisors approach extends beyond those services to provide service in a broader context," said Schofel. "In addition to such routine activities as building management, maintenance and leasing, the cross-functional teams of real estate experts will provide real asset management for property owners - devising new methods to ensure profitability, assisting with refinancing, and developing exit strategies where appropriate on behalf of owners."

Williams Property Advisors current portfolio includes some 8 million square feet in prime buildings throughout the city. Such properties as 2 Broadway, 125 Maiden Lane, 60 Hudson Street, 295 Lafayette Street, 1 East 57th Street, 220 West 42nd Street and 424 Madison Avenue in Manhattan, as well as 141 and 250 Livingston Street in Brooklyn, are now being managed by Williams Property Advisors.

Corporate clients include such institutional property owners as Chase Manhattan Bank, Massachusetts Mutual Life Insurance Co., The RCC Group (formerly FGH), Blackacre Capital, RREEF, Citibank and Atlantic Bank.

GVA Williams is a partner in GVA Worldwide Ltd., a leading provider of specialized realty services that includes a comprehensive approach to leasing, property management, investment advisory services, development, construction supervision, mortgage brokerage, tenant representation and institutional management. GVA, with offices in cities on five continents, offers high-quality, client-tailored services around the world. GVA Williams has offices in Midtown and Downtown Manhattan, as well as in Chicago.