Chicago-based Essex Realty Group Inc. has just completed a management buyout of the company. Essex was founded in 1990 by Doug Imber, president of Essex Realty Group, and Northbrook-based Banner Apartments. Banner, which focuses on the acquisition and management of apartment communities nationally, had been the majority owner of Essex, although it remained largely a passive investor in the firm. Imber and three of Essex’ managing directors, veteran brokers Jim Darrow, Doug Fisher and Matt Welke, acquired Banner’s interests.
“The buyout was extremely friendly and cooperative. We hope and expect to continue our close relationship with Banner in other ventures for many years to come, as they have truly been outstanding partners,” Imber said. “Darrow, Fisher and Welke deserve so much of the credit for Essex’ success. With them now as co-owners, I know Essex will continue to grow and to provide clients with the very highest level of service.”
Essex Realty Group, Inc. specializes in the sale of investment real estate throughout the Chicago metropolitan area.