|By Marketwired .||
|May 8, 2014 12:39 PM EDT||
IRVINE, CA and DALLAS, TX -- (Marketwired) -- 05/08/14 -- Stream Realty Partners, L.P., a Dallas-based full-service real estate investment, development and services company, today launched a national platform that catapults the company into the multifamily sector. The firm has hired Senior Vice President Jeff Patterson, a former principal at Apartment Realty Advisors (ARA), one of the largest full-service investment advisory firms in multifamily, to spearhead the business.
Stream Realty's new platform will vertically service multifamily clients from acquisition to disposition, including property, construction and asset management. The platform will integrate its services with existing clients who also own multifamily properties by servicing each client across the different commercial real estate sectors.
Stream Realty leaders anticipate investment sales will account for nearly 75 percent of the new platform's activities from the outset. This is a dramatic shift from the firm's existing platforms that focus heavily on leasing and property management, with a growing investment sales business.
"This is a major initiative for Stream Realty, and we're thrilled to grow into the dynamic multifamily sector," said Mike McVean, co-founder of Stream Realty. "Jeff's experience in investment sales will be invaluable to all of our clients."
The first Stream Realty offices to adopt the new platform will be Southern California and Austin, Texas. Patterson will be based in Orange County while also building out new multifamily-specific teams in other locations nationwide.
"This new business coupled with Jeff's expertise creates a full menu of services for clients," said McVean. "We can now service our clients in all major commercial real estate sectors."
Stream Realty has experienced significant growth in the commercial real estate space. At the close of 2013, Stream Realty grew 22 percent year-over-year nationwide with the addition of 20 million square feet of industrial, retail and office properties to its portfolio.
"Stream Realty has been an impressive company to watch expand over the years," said Patterson. "The firm's fresh, entrepreneurial culture offers a perfect fit to grow a multifamily team across the nation."
ABOUT STREAM REALTY PARTNERS:
Stream Realty Partners, L.P. is a full-service real estate investment, development and services company. Since its formation in 1996, Stream Realty has grown from its two original partners to a staff of almost 500 real estate professionals nationwide with office locations in Atlanta; Austin, Texas; Charlotte, N.C.; Dallas/Ft. Worth; Denver; Houston; Southern Calif.; San Antonio; and, Washington, D.C. Stream Realty leases and/or manages more than 111 million square feet of commercial buildings across the nation; completes over $1.6 billion in real estate transactions annually; and is considered one of the most active investors and developers in the Southwest. Stream Realty creates a distinct culture that is best summarized by its company values: Nice. Smart. Honest. Passionate. www.streamrealty.com
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