Investment partners buy NYC parking portfolio.Quik Park has been acquired by a group of individual investment partners, including Rafael Llopiz, former executive vice president of Quik Park, Marathon Real Estate, and KMG KMG Kerr-McGee KMG Koi Mil Gaya (Hindi movie) KMG Kunming, China - Kunming (Airport Code) KMG Kent Messenger Group (UK) Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . The joint venture acquired the portfolio, which represents New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City's fifth largest parking garage operation, from Hank Sopher. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. sources, the purchase price was $35M. Rafael Llopiz, who has been appointed CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Quik Park, had been employed by the predecessor company for the past 15 years. In addition to Llopiz, the new ownership group now consists of Marathon Real Estate, a global real estate private equity investment and management group, and KMG Partners LLC, a real estate development and investment firm whose principals include Burt W. Miller, Stanley E. Kleger and Eric Granowsky. Quik Park has been in business for more than 30 years and manages some of the largest parking facilities in some of the most prestigious buildings in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , including 100 United Nations Plaza, the Crowne Plaza Hotel in Times Square, One New York Plaza One New York Plaza is an office building in New York City, built in 1969, and is located at the intersection of South and Whitehall Streets (). It is the southernmost of all Manhattan skyscrapers. off Wall Street and the Trump residential building garages on the Upper Westside of Manhattan. Quik Park will employ more than 300 people and the new ownership group is planning a substantial capital expenditure program to improve, modernize and reposition the company's extensive holdings. "We are thrilled to announce our participation in the acquisition of the Quik Park portfolio," stated Butt Miller of KMG. "We see an opportunity to add value to the joint venture by utilizing the strong relationships we have developed within the real estate community over the past 20 years in order to target new parking garage acquisitions and/or leaseholds. "We are excited to have the opportunity to partner with Rafael and work alongside his experienced management team to expand this already impressive portfolio." This is the second project that KMG has acquired with Marathon Real Estate. In 2004, the firms acquired a commercial building in the West Village of Manhattan. |
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