News release:
SVN® EXPANDS INTO NEW YORK CITY WITH INVESTMENT IN CPEX REAL ESTATE
Boston, MA (July 1, 2019) SVN International Corp. (SVNIC), a full-service commercial real estate franchisor of the SVN® brand, has invested in New York City-based CPEX Real Estate. With this new venture, which is the third acquisition in SVN’s growth strategy plans, SVN will provide the platform and capital that will allow CPEX to expand more aggressively in the New York City metro area. CPEX Real Estate will rebrand and launch as SVN |CPEX in July, 2019.
The transaction between SVN and CPEX was completed in June and was negotiated by SVN President and CEO Kevin Maggiacomo, and CPEX’s founder and Managing Director Timothy D. King.
“SVN’s investment into CPEX is part of our larger growth strategy across the country,” said SVN President and CEO Kevin Maggiacomo. “CPEX’s focus on growth, along with its collaborative and client-centric approach, presented the right firm for investment and growth in New York City.”
“This investment provides our firm the rocket fuel for growth,” said CPEX Founder and Managing Director Timothy D. King. “It gives us the best of both worlds— we can continue to be nimble and entrepreneurial, while benefiting from the improved tools, capital, and network of SVN’s global brand.”