Boston-based developers and property owners The Davis Cos. and Marcus Partners will implement the final phase of a joint venture reorganization this spring.

Jonathan Davis, chief executive officer of The Davis Cos., and Paul Marcus, managing principal of Marcus Partners, said they will jointly own all of the properties they acquired during their partnership tracing back to 2008. The groups will continue to share major decisions affecting their many existing jointly owned property ventures in Massachusetts, Connecticut and Florida.

Management will continue to be handled under the Davis Marcus Management and Davis Marcus Partners entities, which are joint ventures between The Davis Cos. and Marcus Partners. The properties will be divided on an asset by asset basis and will be administered on behalf of their joint entities by their two companies. The separation is merely a formalization of their joint venture reorganization agreement. Both companies plan to remain active investors, developers and managers in the region, according to a statement.

"Paul and I have had an extraordinary partnership for 15 years, with many great successes. We remain friends," said Davis. "Our relationship with our tenants will remain as strong as ever and they will not be affected by this reorganization."

"I am very proud of what Jon and I accomplished together in Connecticut and I am pleased that we will continue working together on the properties that we acquired and developed," said Marcus.

With this step in the reorganization of the joint venture, Jonathan Davis will be relaunching The Davis Cos.’ Connecticut operation and Paul Marcus will launch Marcus Partners in Connecticut.

The Davis Cos. office will remain at 200 Connecticut Ave. in Norwalk, Conn., according to a statement.
As of April 1, the Marcus Partners Connecticut office will be located at 64 Danbury Road in Wilton, Conn.