News
–Acquisition Continues Foundry’s Strategic Growth in Critical Southeastern Market–
(Nashville, Tenn.) Sept. 20, 2018 — Foundry Commercial, a full-service real estate services and investment company with operations across the Southeast and Texas, has reached an agreement to acquire the leasing and brokerage business of OakPoint Real Estate’s Nashville office.
“Nashville has always been a critical market for Foundry, and we are bullish on its growth and potential,” said Paul Ellis, Chief Executive Officer, Foundry Commercial. “It was important to us to align ourselves with a group of individuals that share the same values and culture, which is entrepreneurial, authentic, nimble and client-focused. We believe that we have been able to create a platform that unleashes talented professionals to serve their clients in a meaningful way, and we are confident that the team joining us from OakPoint will allow us to deepen and widen our ability to service our existing and future clients.”
Foundry Commercial first entered the Nashville market in 2014 when the real estate and investment firm – then CNL Commercial Real Estate – acquired the services business of Crescent Communities, which had a presence in many cities throughout the southeastern United States, including Nashville.
OakPoint was started in 2011 as an investments-focused company, expanding into brokerage in 2013. With Foundry’s acquisition of its Nashville services business, OakPoint founding partners Justin Albright and James Granberry will continue to lead and grow the company and its investment portfolio. OakPoint will continue to manage and lease its owned assets in Austin.
“Whether it was investments or advisory, we have always aimed to put the client first. We were thrilled to find a partner in Foundry that places the same emphasis and really understands the changing dynamics of the Nashville marketplace. Both companies have experienced strong growth and Foundry’s acquisition of our services business will allow OakPoint to continue our core focus on finding quality investment opportunities and delivering strong results to our investors,” stated Albright.
Jason Holwerda, Nashville Market Leader for Foundry Commercial, has been leading the charge for the company in Nashville since 2014. “This acquisition builds out our business platform in the region, allowing us to provide a broader range of services to our clients. Honestly, it is very humbling to attract the level of talent that has recently joined the firm such as Don Albright, Rick Frazier and now Rick Helton and John Keller and the extremely sharp team they have built over the years,” he added.
The acquisition brings the total number of Foundry Commercial employees in Nashville to 19. In total, Foundry will lease and manage more than 2,450,000 square feet of assets in the greater Nashville region. Clients can expect a seamless transition and a heightened level of service. Among the executive leadership of this office alone, the average length of career experience in the commercial real estate sector is 20 years, proving the depth of the talent in this newly expanded office.
Rick Helton and John Keller will both join Foundry as Partners. Helton commented, “In many ways we see Foundry as a larger version of what we have tried to create at OakPoint. The cultural similarities between the two companies are remarkable. Now we have more resources and team members to help us serve our clients. So, this business combination just made a lot of sense.”
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with 300 employees and more than 50 million square feet of management and leasing across the Southeast and Texas. Foundry provides corporate services, brokerage, leasing, building management and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the Country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to control more than $1 billion in advantaged investment opportunities in partnership with its clients. Foundry Commercial was founded as CNL Commercial Real Estate in 2007 and launched as Foundry in 2015 through a management-led buyout. For more information, visit www.foundrycommercial.com.
About OakPoint Real Estate
OakPoint is a real estate investment firm with offices in Nashville and Austin. Since 2012, the firm has purchased over $425 million in real estate and been entrusted with more than $120 million in equity. OakPoint’s strength is local market knowledge and expertise and the company provides its investors with real estate diversification, focusing on both value-added and core investment opportunities.
Media Contact for Foundry Commercial:
Lauren Leetun, APR
lleetun@findsomewinmore.com
(407) 592-7923
Media Contact for OakPoint Real Estate:
Justin Albright
jalbright@oakpointre.com
(615) 324-0780