HOUSTON, TX – Portico Property Management, a property management firm headquartered in Houston, and Crossbeam Capital, a multifamily real estate investment firm with offices in Houston, Denver and Dallas, have launched a joint venture that will house more than 6,200 multifamily units across six states.
Additionally, the companies will merge back-end operations and support services that will create ease of use for investors and clients. The property management portion of the joint venture will operate under the Portico brand in the company’s Dallas and Houston offices.
The units are located in Texas, Colorado, Illinois, North Carolina, Pennsylvania and Washington D.C.
With 173 employees and combined operations led by Portico’s President, Darren Williams, the two firms now provide an extraordinary portfolio of multifamily communities with support services tailored specifically for investors and clients.
“Portico and Crossbeam share a mutual commitment to customer service and at the community level, we have the best teams in the country,” said Williams. “We are confident our joint venture will add value to our clients and associates and ultimately make us an even stronger company.”
“This venture with Portico allows us to expand our platform and services among our clients and strengthen our overall service level,” said Ted Kerr, managing partner of Crossbeam Capital. “We have a strong track record of delivering exceptional results to our investors and this partnership allows us to provide an even better strategy for performance.”
Portico offers expertise in management services, construction management, renovation, due diligence, acquisition and disposition services.
Crossbeam offers a vertically-integrated multifamily investment firm specializing in value add investment and development strategies. Its expertise includes investment management, acquisitions and dispositions, and asset management services.
“We’re excited about this joint venture. Crossbeam’s culture meshes very well with Portico’s and we share a common vision: a focus on exceptional customer service,” Williams added.
Founded in 2011 by Darren Williams, Portico Property Management began with the simple premise to build a great and enduring management company. Portico hires only the best talent and values integrity, friendliness, accountability and results above all else. At Portico, today’s client is more important than tomorrow’s. In addition to property management, Portico offers asset management, due diligence, pre-acquisition analysis, renovation analysis and management, and disposition services.
Crossbeam Capital is a leading multifamily real estate firm focused on identifying strategic investment opportunities and successfully building value through a unique vertically-integrated management platform. With offices in Houston, Denver and Dallas, the firm serves multiple metro markets nationwide in the role of investment advisor, asset manager, developer and property operator. The firm manages multiple investment vehicles for top-tier institutional clients that have included many large insurance, pension, sovereign wealth funds, and family offices. Led by a senior management team with deep experience in the real estate industry, Crossbeam has completed over $1.5 billion in multifamily transaction activity in the last five years.