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Madison Marquette completes merger, names new CEO

Washington-based developer Madison Marquette completed its merger with The Roseview Group and named that firm’s CEO to the same position at the combined companies.

The company, which built the One Light Street tower in downtown Baltimore, has been merging with firms in recent month to broaden the services it provides. It’s still keeping the Madison Marquette name.

“It is an exciting time to be CEO of Madison Marquette,” new CEO Vince Costantini said in a statement on Tuesday. “We are transitioning from the company’s legacy as a successful and innovative developer to provide exceptional third-party management and leasing services as well as informed investment advice and asset management to our clients.”

Madison Marquette said it merged with the Boston-based Roseview, a boutique real estate investment and advisory agency, to add capital markets and corporate advisory services. The company also finished a $7.5 billion merger last year with Houston-based PMRG.

Prior to starting Roseview, Costantini worked as president and chief operating officer at Boston Financial. During Costantini’s time at Boston Financial the firm doubled its assets to more than $7 billion, and earnings quintupled, according to Madison Marquette.

Madison Marquette recently completed construction of the mixed-use One Light Street tower in downtown Baltimore. M&T Bank moved its regional headquarters to the building, which is the first new office construction in the area north of Lombard street since the 1990s.

The company celebrated the opening of the One Light Street apartments in May. The event marked a culmination of 30 years of effort to build on the site previously occupied by the old Southern Hotel.

Initially, Madison Marquette intended to take on the project in partnership with Trammel Crow Co. dating back to the 1980s. But a pair of economic downturns and the loss of the partner changed those plans, Madison Marquette Executive Chairman Amer Hammour said last month.

“We tried every scheme,” Hammour said.

The grand opening ceremony for the the residential section of One Light Street, dubbed the Luminary at One Light, served as a celebration of decades of work coming to fruition.

The 28-story building includes nine floors of office space; 10 floors of residential space featuring 280 units; ground-floor retail; and a parking garage.

Apartments in the building started leasing in March. Rents start at $1,509 a month for a studio and climb to $4,910 a month for a three-bedroom apartment, according to the property manager, the Bozzuto Management Co.

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