Great Elm Group, a Florida-based alternative asset manager, has acquired the assets of Bedford-based Greenfield CRE and formed Monomoy Construction Services.
The deal will combines the construction capabilities from Greenfield with civil engineering and land planning of Monomoy BTS Construction Management. With the acquisition, Monomoy can offer a full-service suite of project management, procurement, construction management, asset management, market analysis and feasibility for its industrial real estate tenants.
The deal is part of Great Elm Group’s strategy to grow its existing real estate franchise by bringing Greenfield, Monomoy’s existing general contractor partner, in-house. G
The Monomoy Construction Services transaction represents a successful outcome for Great Elm’s shareholders,” Jason Reese, Executive Chairman of Great Elm Group, said in a statement. “This marks the latest in a series of strategic actions taken to enhance our focus and capabilities across our industrial real estate platform.”
Monomoy Construction Services hired Brandon Finomore, the former president of Greenfield, to lead its construction services business. Finomore has more than 20 years of real estate development expertise, managing and directing projects across the US ranging from $500,000 to $30,000,000.
