A Houston commercial real estate firm is growing with an acquisition in San Antonio.
Partners acquired Providence Commercial Real Estate Services in a move that will increase the firm’s presence in the Alamo City, the San Antonio Business Journal reported.
Details of the acquisition weren’t disclosed.
Providence CRE founders Steve Garza, Dan Gostylo and Phil Crane primarily broker office and industrial deals. They will join as company partners with ownership stock. All Providence employees will keep their positions under the Partners brand. The firm has plans to hire more people for the San Antonio office bringing the headcount up from 25 to 40, Silberman said.
Formerly known as NAI Partners, Partners recently ditched its NAI Global branding, saying it came with strings attached. For example, Partners recently expanded into the Dallas market, a move that wouldn’t have been allowed under NAI branding rules about competing offices in a single market.
The firm tapped Evan Altemus to oversee brokerage services for its new DFW office, with a focus on multi-tenant sales. He joined the company from his previous role of representing buyers and sellers for Northmarq, where he closed approximately 70 investment-sales transactions over seven years.
Partners will be looking to expand to areas outside of Texas soon. Silberman said the firm will focus on areas in the Southeast, like Florida, Tennessee and the Carolinas, “unless an opportunity arises to move into different markets.”
“Our goal is to be regional. The natural progression then is to have a national footprint,” Silberman told the outlet. “Does that mean we’ll be in every major market? I don’t know.”
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— Victoria Pruitt