ALBUQUERQUE, N.M. — Joe Farr, owner and operator of Duke City Management, LLC, announced Wednesday that his company has purchased Gemini Rosemont’s Albuquerque property management operations.
Following the sale, the previous Gemini Rosemont team of property managers, maintenance techs and support service personnel based in the Albuquerque office are now employees of Duke City Management, Farr said in a news release.
“Gemini Rosemont is an owner of property that has kind of vertically integrated things where they do their own management and in some cases the leasing of property, and I oversaw that for Gemini for several years,” Farr said in a phone interview.
Farr became senior vice president and manager of the Albuquerque regional office for Gemini Rosemont in 2013, after joining the company in 1999.
“It was my idea to create Duke City Management back in 2015, and as Gemini was selling properties, I thought it was a good idea to manage it for them, and that’s how we got into the third-party business,” Farr said. “Back then it was kind of jokingly stated to me that at some point I could buy the company.”
Duke City Management now manages 20 buildings comprising over 1.2 million square feet of property, he said.
Farr declined to say how much he paid for the management operations.
“We wanted to achieve the best business solution to provide equal or better ongoing service to the tenants in the Gemini Rosemont-owned properties in Albuquerque,” said Ian Brownlow, chief executive officer for Gemini Rosemont. “Selling the property management business to Joe Farr, who is a very well-established and respected member of the Albuquerque business community, and deeply knowledgeable about the Albuquerque market and the Gemini Rosemont portfolio of Albuquerque properties, accomplishes that objective while preserving the Albuquerque personnel of 17 real estate and related professionals.”