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Condo king goes west: Related’s Jorge Perez opens office in Dallas
Former Zom exec will lead the new office, focused on rental development
Jorge Perez’s Related Group is expanding into the Southwest with a new satellite office in Dallas.
The developer, the biggest builder of condominiums in Miami, plans on building apartments in Phoenix, Denver, Las Vegas and other major Texas markets, a spokesperson confirmed.
Kevin Wisdom joined Related to lead the new office. He was previously with Zom, according to his LinkedIn profile.
In the expansion, Related will initially focus on multifamily ground-up development with commercial components, the spokesperson said.
The move marks another sign of diversification for Related, which has stopped launching new condo projects in South Florida amid the slowdown, and canceled Auberge Residences & Spa Miami in December 2016.
In 2012, Related expanded outside of South Florida with the $29.5 million purchase of an apartment complex in Clearwater, according to data from Real Capital Analytics. About five years later, the Miami-based developer began buying land for residential development in Tampa, including the former Tampa Tribune property downtown.
Related has also built projects in Argentina, Brazil, Panama, Uruguay and Mexico.
Harunobu Coryne contributed reporting.