Toronto-based Avison Young has acquired Realty Management Co., a Bethesda, Md.-based real estate firm that provides property management, facility management and engineering services.
The acquisition creates Avison Young's 11th location outside of Canada and the company's third in the metropolitan Washington, D.C., area. Donna B. Kay, president of Realty Management Co. (pictured left), will become a principal of Avison Young, which will also incorporate the acquired company's 37-person workforce.
The acquisition will add 2 million square feet to Avison Young's approximately 50 million square feet of retail, industrial and office properties under management in Canada and the U.S.
This is Avison Young's second new U.S. office this week – yesterday, the company announced the opening of a new facility in Reno, Nev.