Thursday, December 08, 2016

Dallas commercial property firms to merge

Two Dallas commercial real estate firms are joining forces to take a bigger slice of business.
Younger Partners and NOVUS Realty Advisors are merging to expand operations and better compete with larger property firms.
Together, the companies will have 34 real estate brokers working in leasing, sales and investment.
"It broadens out our platform," said Younger Partners co-founder Moody Younger. "We have been historically more focused on leasing and managing buildings.
"NOVUS focuses on selling land and buildings.  This merger creates a lot of value and puts us at the forefront of what is going on in the market."
NOVUS was formed in 2014 by several former top officers from Henry S. Miller Co., including Robert Grunnah and Sam Kartalis.
"We see obvious synergies with this move," Grunnah said. "Combining our team expands our service lines, and enables us to serve our clients throughout the investment process, beginning with land acquisition through development, lease-up, and finishing with disposition."
The companies plan to complete the merger by the end of the year.
Steve Brown/Dallas Morning News