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Three Milwaukee commercial real-estate firms merge

Three Milwaukee-area real estate companies are merging to create the state’s largest independently owned commercial real-estate brokerage and management firm.

Commercial Property Associates, RFP Commercial and Siegel-Gallagher Management Co. announced Monday they are combining to form Founders 3. The new firm, which will have 230 employees in the Milwaukee area, is looking for a new headquarters site.

“We’re confident that no other commercial real estate organization in Wisconsin will be able to match our level of expertise,” David Behnke, a principal of Founders 3, said in a statement. “Together, we’re now able to meet our clients’ full-service needs in every stage of real estate, from identifying opportunities and completing transactions to providing active and ongoing management.”

Commercial Property Associates started up in 1989 with a concentration on retail. The firm made its mark in representing tenants, leasing shopping centers, land sales and surplus-property deposition.

RFP Commercial was started in 2002, and concentrated on the office, industrial and investment-sales sectors. The firm concluded more than $156 million in transactions last year.

Siegel-Gallagher Management Co. developed a reputation for property-management services for both residential and commercial properties. The company manages more than 4,000 residential units.

“As three growing and successful organizations, we recognized an opportunity to come together and provide a stronger option for commercial real estate brokerage and property management services throughout the region,” Andy Hess, a principal at the firm, said in a statement.

About Alex Zank, alex.zank@dailyreporter.com

Alex Zank is a construction reporter for The Daily Reporter. He can be reached at 414-225-1820.

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