Gart Properties, Kornfeld Announce Split

After a little more than one year together, Gart Properties and Kornfeld Companies are going their separate ways.

Gart Properties, headed by president Mark Sidell, plans to pursue targeted acquisitions and redevelopment opportunities, while Brad Kornfeld, managing partner of Kornfeld Cos., said his firm plans to return to its roots as a boutique real estate firm focusing on its existing portfolio, third party property management and selective retail property acquisitions.

Under the terms of the agreement both companies will retain their present property portfolios and staff. The firms announced they were joining forces in May 2011.