GMP Completes Successful Acquisition of Legacy CRE Company

A CENTURY-OLD LEGACY IN SOCAL REAL ESTATE

GM Properties proudly announces the acquisition of T.F. Merrick Company, Inc., a Long Beach-based commercial and industrial real estate property management firm, effective January 1, 2024. This strategic move not only welcomes new clients but also includes the addition of two experienced employees to the GM Properties team.

Thomas F. Merrick Jr. (Tom), the President of T.F. Merrick Company, Inc., will officially retire after over 50 years at the helm, marking the end of an era that began in 1971 when he took over the leadership from Jack P. Merrick.

Jason Jamison, President of GM Properties, expresses excitement about expanding the company’s footprint in Southern California while maintaining the high level of professionalism and superior service the company is known for. He says, “I’m excited about this acquisition because it allows GM Properties to expand its regional scope and portfolio of properties, especially with the addition of two new employees. This will also bring new opportunities for our brokerage team to support transactions in the new portfolio. I take a lot of pride in the fact that a 100-year-old family-owned company was sold to GM Properties over other local firms. I feel privileged to have Tom’s trust that the GM Properties team and I are going to continue their legacy. It validates our approach to the business and core values.”


ABOUT T.F. MERRICK COMPANY

T.F. Merrick Company, Inc., a family-owned commercial real estate firm since 1923, specialized in property management, acquisition, disposition, and leasing of office and industrial buildings. The acquisition aligns with GM Properties’ commitment to excellence, marking its third strategic move since 2001.

Tom Merrick, acknowledging the long-standing legacy of T.F. Merrick Company, Inc., expresses pride in entrusting GM Properties with its continuation. He says, “This acquisition has been a long time coming, and I couldn’t be prouder of Jason and his team for their efforts through this process. I am fortunate to have such a positive industry association. Ultimately, I felt responsible for taking care of our clients, employees, and owners so that the legacy of our company wouldn’t lose continuity. Now going into retirement, I feel like I can put my full trust in GM Properties as they continue to build a great future moving forward.”

 

KEY ELEMENTS OF THE ACQUISTION

With the acquisition, GM Properties adds 10 properties to its management portfolio across Signal Hill, Cerritos, Long Beach, Riverside, and Lakewood. The newly acquired buildings include common-area management of part of MemorialCare’s Long Beach campus across from Long Beach Medical Condo Association, several multi-tenant industrial buildings, a single-tenant industrial building, single-tenant specialty building, an office condominium, and a long-term industrial single-tenant land-lease. Two seasoned employees, Lalitha “Lali” Peruvamba and Laura Goodman, join the GM Properties team. Lali, a 30-year veteran, continues her role as Property Manager, overseeing the 10 newly acquired properties to ensure service consistency. Laura, with 25 years of experience, joins as Assistant Property Manager, contributing her expertise to support Lali and the rest of the GM Properties Property Management team.

 

BENEFITS OF THE ACQUISITION FOR CLIENTS AND TENANTS

The acquisition benefits clients and tenants by ensuring continuity of T.F. Merrick Company, Inc.’s distinguished reputation. GM Properties aims to enhance the property management experience through online portal access for owners and tenants, facilitating on-demand owner reporting, and tenant rent payments and maintenance requests. Additionally, GM Properties will assess implementing a capital improvements plan for the new properties, modernizing the on-site experience. This strategic acquisition positions GM Properties for continued growth and excellence in the dynamic Southern California real estate market.

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GM Properties is actively looking to acquire new companies or books of business from local Southern California commercial real estate property management firms. If you are interested in discussing opportunities, please contact Jason Jamison: 

Jason Jamison, SIOR
President / CEO
[email protected]

T 562-762-3178 M 562-547-1000

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