SOURCE: Equastone

August 24, 2007 12:52 ET

Equastone Establishes Dallas Office; Hires Senior Vice President and Vice President to Oversee Its 4.3 Million Square Foot Dallas Portfolio

SAN DIEGO, CA--(Marketwire - August 24, 2007) - Equastone, a private real estate investment firm, announced today it has established an office in Dallas, Texas and hired two senior-level professionals to provide asset management services for the firm's 4.3 million square feet of metropolitan office property. Bryan Marsh joins Equastone as Senior Vice President of Asset Management and Ron Skipper will serve as Vice President of Asset Management. Marsh and Skipper will be responsible for fixing, leasing, operating and ultimately selling Equastone's portfolio of Dallas/Fort Worth properties including 13 Class A office buildings recently acquired from Crescent Real Estate Equities Company. The firm's Dallas office is located in the Landmark Building at 14800 Landmark Drive.

Dallas/Fort Worth has emerged as a world-class hub for business and has one of the strongest employment markets in the country. According to the U.S. Bureau of Labor Statistics, the DFW metro area gained 90,900 jobs in the 12-month period ending May 2007, translating into a 3.2 percent growth rate.

Clint Harrington, Executive Vice President and head of Equastone's Gulf Coast Region which includes the Dallas region, said, "The Dallas economy is entering a period of broad-based expansion that has driven demand for office space. Over the last 14 months, we focused on acquiring assets in Dallas/Fort Worth because of the opportunity to buy institutional grade property significantly below replacement cost -- a critical factor in achieving higher returns for our investors. With the recent expansion of our Dallas portfolio, it makes sense to establish a physical presence and hire industry veterans with close ties to the local real estate community. Bryan and Ron bring significant asset management experience to Equastone and will be integral to achieving the financial goals of each building."

In their new positions, Marsh and Skipper will also be responsible for directing asset management and supervising all third-party service providers. Equastone recently awarded Transwestern one of the largest third-party office leasing and management assignments in the last 15 years in Dallas/Fort Worth.

Bryan Marsh comes to Equastone with over 25 years of experience managing, leasing, buying, selling and developing commercial properties. Most recently a Vice President in the Dallas office of RREEF, Marsh brings an exceptional track record of asset management success in which he has completed hundreds of deals throughout the United States. Prior to RREEF, Marsh was with Catellus Development Corporation and Coldwell Banker Commercial Real Estate Services. He is a graduate of the University of North Texas and has been a licensed real estate broker in Texas since 1984.

Ron Skipper joins Equastone from the Dallas office of Crescent Real Estate Equities. He has over 16 years of success as a Senior Property Manager with a strong emphasis on construction management, leasing of properties, and analysis and reduction of operating costs. For the past 6 years, he has overseen The Crescent which many consider to be Dallas' premier office building. He started his real estate career with Hines Interests in Houston. Skipper is a graduate of Texas State University and is a Certified Property Manager (CPM).

For more information on Equastone's Dallas office and contact information, please click here.

About Equastone

Equastone currently owns 59 office and flex buildings encompassing more than 9.4 million square feet throughout the United States and intends to acquire $1 billion of new investments in 2007. Equastone currently has offices in San Diego, Denver, Houston and Dallas, and owns properties in California, Arizona, Colorado, Georgia, Louisiana, Nevada, Oregon and Texas.

Equastone is a real estate investment firm specializing in the opportunistic acquisition and asset management of value-added real estate. Equastone manages investment capital on behalf of Equastone Real Estate Funds, which are private equity funds for high net-worth and institutional investors. For more information about Equastone, call Mykel Sprinkles at (858) 812-3261 or visit www.equastone.com.

Contact Information

  • Contact:
    Todd Backus
    Blue Horse & Trumpet
    P: (619) 955-7766
    E: Email Contact

Multimedia