CPE’s Stars to Watch 2019: The Perfect Net Lease Partnership
- Jun 25, 2019
Patrick Luther, 30 & Matt Mousavi, 34
Managing Principals, SRS Real Estate Partners
Matthew Mousavi and Patrick Luther are a winning combination. Last year, SRS National Net Lease Group, which they lead, closed more than $800 million in transactions last year, including the sale of over 80 individual Ruby Tuesday locations to two separate portfolio investors and the subsequent resale of more than 40 individual locations. Since launching SRS’s NNLG and its Investment Sales Property Group, which count 50 professionals handling deals nationally from 25 offices, the team has closed on 600 properties across the country worth more than $2 billion.
Luther met Mousavi after joining Irvine, Calif.-based Faris Lee Investments in 2011; five years later, the two took their partnership to SRS Real Estate Partners. Both had entered the business very early on and knew how to leverage their experience to achieve success for their clients and recognition for themselves.
“When I met Matt, I was really struggling,” Luther recalled. “I was cold calling and bumping into his clients. Rather than scold me, Matt gave me some advice on where to focus my time. I had moved to California from Arizona and was almost out of savings, and thankfully, his guidance to focus on net lease and merchant developer client profiles gained traction.”
Their common values—discipline, hard work and determination—but also their differences have earned them a reputation for results in the net lease sector.
Mousavi and Luther knew they wanted to be in real estate ever since they were children. Luther was attracted to the lifestyle that comes with the profession, while Mousavi was focused on his entrepreneurial instincts. “I was a ‘businessman’ as a child, and although I was planning to go to law school, commercial real estate was always of interest to me,” Mousavi related. “I was in the process of attending business school with a focus on finance when I started my internship (in real estate), so starting in the business as an analyst and underwriter was a natural fit for me.”
Luther says he is committed to his work and convinced that consistency and being available around the clock have helped him build credibility and a strong portfolio. “If there is any pet peeve of mine, it’s people that are not accessible. The world and the deal will pass you by. If I’m not answering the phone, that client is calling someone else for assistance. So perhaps it is a bit of paranoia, but it’s a healthy amount that drives me,” he added.
What Others Say About Them: “The combination of personal and professional talents that Matt and Patrick have honed so well make for one of the most successful partnerships that I have experienced in my more than 45-year career. Having been a small part of starting their careers in retail real estate has been a very bright light for me.” – Rich Walter, Executive Vice President of SRS Real Estate Partners’ Investment Properties Group
What You Didn’t Know About Patrick: “I was working as a production assistant—the movie was Scooby Doo 2—for six months between college and accepting my first real estate job with Grubb & Ellis.”
Matt’s Plans For The Future: “In 2018, I was invited to be part of the board of directors for SRS Real Estate Partners. In that capacity, I am excited to continue to assist in the growth of the firm.”