Advertisement
YOU ARE HERE: LAT HomeCollections

P.M. BRIEFING : Mellon to Acquire Real Estate Firm

September 05, 1989|From Times Wire Services

PITTSBURGH — Mellon Bank of Pittsburgh has signed a letter of intent to acquire McMahan Real Estate Advisors Inc., Mellon announced today.

The deal calls for McMahan to be merged with Mellon Real Estate Investment Management Corp., to create a new subsidiary based in San Francisco and be named Mellon-McMahan Real Estate Advisors Inc., a Mellon spokesman said.

The purchase price was not announced. The acquisition must be approved by the Office of the Comptroller of the Currency. Mellon-McMahan will offer real estate investment management services to corporate and public pension funds, as well as other investors both in the United States and overseas, officials said.

Advertisement
Los Angeles Times Articles
|
|
|