Evercore Partners, a New York investment banking firm, has acquired commercial real estate advisory firm MJC Associates.
While financial details of the deal announced on Thursday were not disclosed, Evercore will take control of a business with offices in New York and Philadelphia.
“This acquisition is consistent with our philosophy of growing our advisory business by acquiring very high quality specialty advisory boutiques with deep industry expertise,” said Ralph Schlosstein, chief executive of Evercore, in a statement.
Additionally, MJC founder and ex-Merrill Lynch real estate banker Martin Cicco has joined Evercore's New York office, where he will serve as head of its real estate advisory practice.
Cicco, 54, worked for 29 years in Merrill's senior real estate investment banking ranks before he established MJC. He is joined at Evercore by MJC colleagues Greg Brooks and Robert Klein.