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Strategic geographic expansion, new executive hires, and veteran broker additions help lead company to new heights
Houston, TX, December 31, 2024 – Partners Real Estate (“Partners”), a full-service commercial real estate firm with an integrated investment and development platform, has leveraged its disruptive industry model to achieve new heights in 2024.
On the financial side, Partners has achieved a Compound Annual Growth Rate (CAGR) of 21.1% since 2019—a testament to the strength of the firm focusing its businesses around a three-pillar operating model offering Services, Investments, and Developments. The company is also projecting it will end 2024 recording one of its highest revenues ever in the firm’s 27-year history, achieving 14% growth over its 2023 total.
Partners Capital—the investment platform of Partners—brought its investment fund total to seven this past year, and has completed more than $600 million in transactions during the last 8 years. Its current portfolio encompasses office, industrial, retail, hospitality, and land investments, and is valued at over $450 million. This year, Partners Capital also closed out its Opportunity Fund II and Fund III investment vehicles, completed its third acquisition through its Land Fund I, its first though its Hospitality Fund I, and multiple investments through Opportunity Fund V.
Partners Development completed one of the most significant transactions of the year, with Tesla leasing a 183,000-sq.-ft. rail-served property at RCR Taylor Logistics Park in Taylor, Texas that was built by Partners Development. And the company’s development business also recently acquired 4.2 acres in Southeast Austin for its Easton Park Medical Center Development.
From a geographical standpoint, this past year marked an exciting new chapter for Partners, as it established the Southeast Division starting with opening a new office in Atlanta on June 1, led by venerated commercial real estate executive John O’Neill, who joined Partners as President and Managing Partner, Southeast, and a Board member.
The company further augmented its executive ranks with the addition of veteran commercial real estate leader Ryan Kasten as Partner and Managing Director for its Austin and San Antonio offices; the promotion of Brad Kovach to head up the firm’s Property Management business; and the hiring of Tracy Shuey, a highly-regarded, long-standing veteran of San Antonio commercial real estate, as Vice President and Director of Property Management for San Antonio.
It also added top-tier talent across its service lines and geographies, welcoming multiple distinguished commercial real estate professionals to its ranks. Jeremy Brubaker and Justin Utay joined the company as Partners specializing in Office Tenant Representation in its Dallas office; Marc Peeler and Joan Collum came aboard as Partners to turbocharge the firm’s Retail Services business; and the addition of Kyle Knox and Clint Gandy expanded Partners’ Valuation business into Dallas.
News of of the firm’s new Southeast region quickly spread far and wide in the greater Atlanta real estate market, as Partners’ disruptive model immediately attracted some of the best-known talent in the industry. Among the powerhouse brokers that have joined Partners during the last six months include Chad Koenig and Katelyn Fabian (Office Tenant Representation); Brooke Gothard and Shea Meddin (Office Tenant Representation); Aileen Almassy, Andy Sumlin, Will Porter, Porter Henritze, Caroline Nolen, John Zintak, and Melanie Wolfe (Office Agency Leasing); and York Murray (Development).
“Expanding into the Southeast, opening our Atlanta office, and adding some of the best talent and best clients in the business were among the highlights of another milestone year for our firm,” said Jon Silberman, CEO of Partners.
Partners has the most unique, collaborative business model in the commercial real estate industry, with a three-pillar operating model focused on Services, Investments and Development, and a privately held equity partnership structure where those who create value benefit from the ownership and growth of the firm. As such, our clients appreciate how the full weight of the company is invested in their success,” said Mr. O’Neill.
The year’s signature accolades also included repeating as the Best Place to Work in Houston for an unprecedented second consecutive year. This came on the heels of becoming the first commercial real estate firm ever to rank as the #1 workplace in all of Houston by both The Houston Business Journal and The Houston Chronicle in the same year in 2023, and one of the only companies period to pull off a clean sweep of both awards.
“Successfully defending our number-one ranking is an impressive achievement that reflects the hard work and dedication of our entire team—not to mention marking our 10th consecutive year on the HBJ’s BPTW list, and fourth straight placing among the top 5,” said Travis Rodgers, Partner and Chief Operating Officer, Partners. “As an award celebrating exemplary company culture, to repeat as the top-ranked in the city among firms across every industry is a true testament to the power of positive collaboration.”
In addition to its top workplace recognitions in Houston, Partners also ranked as the #3 Best Place to Work in Dallas on The Dallas Business Journal’s BPTW rankings; and #10 in San Antonio per the San Antonio Business Journal’s BPTW list. And it rose to the #1 largest commercial real estate brokerage in the Alamo City, ranked by square footage leased and sold.
The company received recognition on the national stage as well, once again being recognized on the Inc. 5000 Fastest-Growing Private Companies in America—among the only full-service commercial real estate services and investment firms and the largest Houston-headquartered commercial real estate company to rank on the list.
2024 marked a signature year for the company’s Houston Office Project Leasing team, which secured major assignments at some of the most high-visibility properties in the city, including the commerce and entertainment districts of Signorelli Company’s Valley Ranch, an award-winning master-planned community; the iconic, historic, and elegant Jones on Main in downtown Houston; and the 1 million-sq.-ft. San Felipe Plaza in Houston’s Uptown/Galleria neighborhood—a Class A property that Partners announced it is expanding and relocating to during Q1 2025 to accommodate its substantive growth.
And lastly, Partners continued to invest in technology, launching Generative AI search functionality on www.partnersrealestate.com, making Partners among the first in the commercial real estate industry to offer a personalized, context-aware and conversational search experience on its company website.