Two of Baltimore's oldest commercial real estate brokerage companies, W. C. Pinkard & Co. Inc. and Parker Frames & Co., have agreed to combine their operations July 1.
The two companies have held infrequent discussions about merging for the past five years and finally reached tentative agreement on the terms yesterday, according to Walter D. Pinkard Jr., president and chief executive officer of Pinkard.
Pinkard will be acquiring Parker Frames for an undisclosed sum, and the combined operations most likely will continue under the W. C. Pinkard & Co. Inc. name after a phaseout period for Parker Frames, Mr. Pinkard said.
Robert Arnold, president of Parker Frames, and Robert Betts, senior executive officer of Parker Frames, will assume senior executive roles with Pinkard.
"They're very strong in industrial projects," Mr. Pinkard said.
"That's what complements our strengths in the office area. . . . The combination of our firms should result in a stronger operation for both organizations."
Pinkard has about 70 professionals, and Parker Frames has 10. Company officials are still deciding how the two staffs will fit together, Mr. Pinkard said, but Parker Frames employees most likely will leave their offices at Charles Center join one of Pinkard's three offices, either downtown, Towson or Columbia.