The purchase also resolved the quiet conflict between the Swig and Weiler families, whose investment goals had diversified since the death of Jack Weiler.
It's a win-win-win situation for all three parties," said Abby Hamlin, president of Swig Weiler & Arnow.
Agreeing on the trifecta result, Kent Swig, on behalf of his family, said "The Swig family maintained its activity in the real estate industry, while the Weiler family was able to divest of a significant portion of their real estate holdings and TrizecHahn was able to enter the New York City market, which is where they wanted to be.
The goals, said Swig, are to maximize the income and minimize the operating expenses.
As to why they decided to work together, Swig said "We've had good working relationships for a long time, so it works out nicely.
Swig is also a principal in the family-operated Swig Investment Company that owns and operates the Fairmont Hotels Group and over 11 million square feet of commercial office space.
This is a magnificent achievement for us," boasted the proud Swig, who spoke with REW soon after that announcement.
Brown Harris will also become a full-service commercial management and brokerage player and the Swig buildings will now be managed by the company.