NAPLES — The Real Estate Management Services Group, a Naples-based company that manages REIT portfolios, has merged with a New York-based company with an office in southwest Florida, LDR Capital Management.
The companies declined to disclose financial details of the transaction. A spokesperson did not return an email asking what the management structure of the merged companies will look like or the fate of REMS founder and managing partner Edward Turville and chairman John Webster II.
The spokesperson, in an earlier email, said LDR would be the surviving company.
In a press release announcing the merger, Turville said “we look forward to working with them to continue to build on the successful investment approach we both share.”
Lawrence Raiman, Managing Director and Chief Investment Officer at LDR, said in the statement that the merger increases its assets under management, customer base and adds industry experience. The merger also gives the company new distribution channels.
REMS manages portfolios of REIT securities for institutional and private clients, as well as the REMS Real Estate Value-Opportunity Fund, a mutual fund. It was founded in 1997.
LDR was founded in 2011, although its investment team has worked together since 2006. of the property-related securities market.”
While its main office is in New York, LDR has an office at 405 Fifth Ave. South in Naples, a few blocks from the REMS office at 1100 Fifth Ave. South.
“I have known Ed Turville and John Webster of REMS for over 20 years and have tremendous respect for their investment expertise and focused approach,” Raiman said in the statement.