Greysteel Boosts SoCal Multifamily and Retail Market Share With Nara Purchase
Greysteel has expanded its Southern California presence this week by acquiring Nara Advisors, a San Diego-headquartered commercial real estate advisory firm.
This acquisition marks a milestone in Greysteel’s inorganic growth strategy, increasing its market share and service capabilities on the West Coast, particularly in the multifamily and retail sectors.
The integration of the Nara Advisors team is effective immediately.
Nara specializes in the multifamily and retail sectors, including investment sales, 1031 exchanges, off-market transactions and development opportunities in key Southern California markets, including San Diego, Orange County, Long Beach and the Inland Empire, where Nara maintains offices.
Lacey Willard, executive vice president at Greysteel, told GlobeSt.com that Nara Advisors’ “established presence and trusted relationships across Southern California markets” stood out to her, as well as its commitment to collaboration and deep client relationships.
“This strong cultural alignment ensures we can move quickly [at a national level] to expand opportunities for clients and investors.”
Nara’s CEO & Founder, Jason Lee, will join Greysteel in a senior leadership role.
Mark Grace, senior managing director of capital markets for Walker & Dunlop, told GlobeSt.com that multifamily capital is starting to pour back into key SoCal markets like the Inland Empire, San Diego and Los Angeles. Particularly, these regions possess strong fundamentals with limited new supply
Source: GlobeSt/ALM