Halstead Management Company Adds Gerard J. Picaso Inc.
- Aug 21, 2014
New York—Halstead Management Company has acquired Gerard J. Picaso Inc. through an asset purchase, adding more than 40 buildings to its portfolio.
Jerry Picaso, currently president of the eponymous firm, will take on the role of managing director, executive vice president at Halstead Management Company.
“I have known Paul Gottsegen and a number of the other executives at the company for years. Halstead has the right formula for the assimilation of companies of my type,” Picaso tells MHN. “They have done a number of them in the past and not only are the principals of those companies still happily working, so are many of their original employees.”
According to the deal, Picaso will continue to oversee more than 40 buildings with his business partner Susan Axelbank, and all of his expert staff together with the resources of the executives and staff of Halstead Property Management.
“My role will essentially remain the same, I will be in charge of the portfolio of buildings we brought to Halstead,” Picaso says. “We will continue to give our clients the same personalized service to which they are accustomed. In addition they will have access to the Halstead resources.”
Paul Gottsegen, Halstead Management Company’s president, says he is excited to bring a team that has such a high level of property management experience to the firm.
“Having known Jerry for nearly 30 years, I have always admired his professionalism, knowledge and the level of caring and attention he gives to each and every building,” he says. “The addition of Picaso adds to the strength of Halstead Management and maintains our position as a leader in the industry.”
According to Picaso, he agreed to the deal not so much because of the environment, as much as realizing that he needed to give his company and its portfolio the security of a first-class management company for the future.
“As a small hands-on company, we now can offer our clients the wide range of professional services and innovative technology that Halstead Management Company is known for,” he says. “We are excited for this next chapter in our business.”