MTA taps CBRE and Massey Knakal to offload portfolio.As REW n. 1. A row. first reported last May, Massey Knakal Realty Services and CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. have been retained by the Metropolitan Transportation Authority (MTA (1) (Message Transfer Agent or Mail Transfer Agent) The store and forward part of a messaging system. See messaging system. (2) See M Technology Association. 1. (messaging) MTA - Message Transfer Agent. ) to assess the its real estate portfolio and create and execute a program to maximize the properties' revenue potential. The initiative is part of the MTA's efforts to generate additional revenue for essential capital improvements and operational needs. The portfolio is expected to include more than 14,000 properties that have been estimated to be worth over $1 billion. The selection of Massey Knakal and CBRE CBRE CB Richard Ellis (real-estate firm) CBRE Chemical, Biological, Radiological and Explosive CBRE Component-Based Reliability Estimation CBRE Coldwell Banker Richard Ellis (Boston, MA) was made following a Request For Proposals process that began in 2004. "I am delighted to be working with CBRE on behalf of the MTA," said Massey Knakal founding partner Paul Massey. "Our firms have had a rich history of collaboration which will provide great benefits to the MTA throughout the metro area This article is about the music production team. For the article about population centers, see metropolitan area. Metro Area are a Brooklyn-based dance music production team composed of Morgan Geist and Darshan Jesrani. ." The first phase of the assignment includes a systematic assessment of the revenue potential of the properties. Specific recommendations regarding the most economically advantageous actions for the sites, including sale or lease, will be developed. Operational and community impact issues will also be reviewed. "By maximizing the value of the MTA's real estate portfolio, we are helping to generate essential funds to ensure the continued health of the region's transportation backbone," said Mary Ann Tighe, chief executive officer of CBRE's 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 tri-state region For other tri-state regions, see . The Tri-State Region is commonly used in the area surrounding New York City to unambiguously refer to the greater metropolitan area. Sometimes the phrase is shortened to "the Tri-State," or "the Tri-State Area" is used instead. . "The combination of CBRE and Massey Knakal delivers a strong real estate services platform that will create value for the MTA and its vital public service mission." Following approval by the MTA, the Massey Knakal/CBRE team will then market the properties for sale or lease. Both firms have extensive experience working with public agencies, corporations and non-profit organizations providing both advisory and transaction services to maximize the value of real estate holdings. The CBRE/Massey Knakal team will be led by Massey and Robert Knakal, founding partners of Massey Knakal; Thomas Gammino, Massey Knakal broker; Tighe; and Tim Sheehan, senior vice president of CBRE's New York brokerage group. CBRE's Martin Lomazow on Long Island and Al Guitierrez in Westchester are also members of the project team bringing their expert knowledge of these suburban markets. |
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