Ariel and Global Real Estate Plan Major Expansion With Newly Formed Partnership
By Mark Hallum April 9, 2024 3:31 pm
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Ariel Property Advisors" class="company-link">Ariel Property Advisors and Global Real Estate Advisors (GREA) are getting a boost from one another through a partnership, Commercial Observer has learned.
The alliance between the two firms will expand the kind of services GREA provides by adding Ariel’s capital services and affordable housing business to its platform while taking Ariel’s to a national level, according to Shimon Shkury, president and founder of Ariel told CO.
“New York City is an amazing market and they wanted the sophistication of the investors here,” Shkury said.
The two groups will remain independent of one another, with Ariel planning to expand by up to 10 employees over the next two years in connection to the partnership.
Ariel offers support for investment sales specifically focused on the New York City area, while the capital services group does work nationwide. Its market research team compiles data across all asset classes.
GREA is a platform specific to investment sales that facilitates the purchase, sale and financing of multifamily property acquisitions.
GREA operates in markets such as Chicago, Dallas, Detroit and Miami, with the firm seeing an expansion into 12 markets in total over the last two years. It has up to 100 investment sales advisers with total volume exceeding $8.5 billion in 2022 and 2023.
“We sought a partnership with Ariel Property Advisors because the firm’s platform is robust, diverse and operationally sophisticated, which will enhance the operation of all GREA’s offices nationwide,” Todd Franks, GREA’s founder and chairman, said in a statement.
GREA has been making strides to enter new markets by creating similar partnerships with local firms in other cities, such as with Deaton Investment Real Estate" class="company-link">Deaton Investment Real Estate’s Steve Deaton, Michael Deaton and Thomas Furlow. The company is based in Raleigh, NC.
Mark Hallum can be reached at mhallum@commercialobserver.com.
