Greysteel Expands in Texas
- Feb 07, 2020
Greysteel, a national commercial real estate services firm, is expanding in Texas, opening offices in Austin and San Antonio, with plans to add a Houston office and other locations throughout the state and Central U.S. The firm has hired J.R. Ellis as senior director to co-lead the expansion into Austin and San Antonio.
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Ellis, along with Greysteel President & CEO Ari Firoozabadi and Dallas-based Senior Managing Director Doug Banerjee will advance the company’s expansion efforts.
“With an established investment sales and debt and capital markets practice in the Dallas-Fort Worth metroplex, North and West Texas, as well as El Paso markets, Greysteel was attracted to Austin and San Antonio, two of the hottest multifamily markets in the U.S. Following this expansion, we intend to advance the Greysteel platform in Houston and throughout the state,” Firoozabadi told Commercial Property Executive. “J.R. and his team have built a strong presence within the region; we are excited to continue growing our market share together.”
Ellis, formerly a vice president of investments at Marcus & Millichap, has worked in investment sales, debt and structured finance, as well as property management, where he gained experience with multifamily assets through both operational and financial perspectives. He is charged with leading the Austin-based team and will focus on arranging sales and financings for middle market and private client multifamily properties.
Joining Ellis on the new team is Investment Associate Justin Chambers, who previously worked at Marcus & Millichap as an investment sales agent and as operations manager at KT Waterfront Construction.
Growing the firm
Calling Austin one of the most desired investment markets in the U.S., Firoozabadi said the firm had been considering expansion there for some time but was waiting for the right team to launch the new offices. He said Ellis’ experience in the Austin and San Antonio markets will enhance the company’s expertise in the sector and add value to its clients.
Ellis, in prepared remarks, said joining Greysteel presented an opportunity to expand the firm’s footprint in Austin and San Antonio. He also cited Greysteel’s technology-driven ecosystem and collaborative culture as additional reasons for joining the firm.
The firm now has 14 offices throughout the U.S. including locations in New York, Los Angeles, Phoenix, Washington, D.C., Denver, Philadelphia, Baltimore and Oklahoma City. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale and financing of private capital and middle-market real estate assets.