Top IS Teams in Texas
Who are some of the best IS teams across asset classes in Texas? I have some insights I’ve heard and put them below but any other info or clarification especially about the firms I don’t have much info on would be great. A lot of my info is North Texas based so info about other areas is welcome.
JLL: Strong in DFW and North Texas but not sure about other markets like Houston or San Antonio. A lot of former HFF producers so deal flow is strong along with poaching from Eastdil and C&W among others. I believe clients range from shitty syndicators to top tier institutions like GSAM, Blackstone, Invesco, etc. Their industrials team got hit hard and is rebuilding because Newmark poached some strong MDs. DFW office also has a strong D/E practice which might help with dealflow.
Eastdil: Nationally strong deal flow so it’s a good place to be. Compete with some of the JLL producers for portfolio deals or trophy properties. From my understanding this office works on deals all across the sunbelt and even nationally at times.
CBRE: Despite being headquartered in Dallas the DFW office isn’t that strong from what I hear. It’s a very young office producer wise which leads to low deal flow but could see them being a powerhouse in the next coming years as they shift more resources to Texas. Not sure about other offices. Pretty sure CBRE Global Investors operates out of Dallas but not sure if they feed deal flow to the brokerage side of the business. Houston office recently hired a producer out of New Orleans which isn’t super relevant to Texas but Im personally interested to see how they’re gonna try to break into the Louisiana market since it’s so tough to get footing there.
Newmark: Don’t know much about them but they poached the top two industrials guys from JLL DFW which has really hurt JLL. They love throwing money around to get top guys from other brokerages nationally so can definitely see them poaching more bodies in the future.
C&W: Not that strong from what I heard. JLL poached two office rainmakers from them which led to a lawsuit along with a 1 year non compete. Other than that not much info.
Based on the most helpful WSO content, here's a breakdown of some of the top Investment Sales (IS) teams across various asset classes in Texas, along with insights into their operations and market presence:
JLL (Jones Lang LaSalle):
Eastdil Secured:
CBRE:
Newmark:
Cushman & Wakefield (C&W):
It's important to note that the landscape of Investment Sales teams is dynamic, with frequent movement of professionals between firms. This can lead to shifts in market dominance and deal flow. Additionally, the information provided here is based on insights and may not fully capture the current state of the market. For the most up-to-date and comprehensive analysis, it's advisable to consult with industry insiders or access the latest market reports.
Sources: Best schools for Texas IB/PE, Acquisitions - How active is your pipeline?, Best Asset Class to Start Out in, in Real Estate, The Best Sector, Asset Class, or investment idea for 2017 (that WSO didn't know existed), Best Houston Banks for Exit Opps?
Bump
I am pretty sure Northmarq is a very active (maybe dominant) in B/C multifamily in North Texas. Also believe Newmark basically owns the multifamily land market in Houston.
JLL (since the HFF merger) is the 800 lb gorilla in many ways. So expect others are more so carving out specialties given how competitive larger institutional sales can be.
Depends on the asset class, some brokerage groups are stronger on the multifamily side vs. the office side and vice versa. Are you asking about a specific asset class or just in general?
Just asking in general. I’m trying to get a better sense of what the IS landscape looks like in Texas so any info is great.
This is not an exhaustive list, just some good groups I can think of off top of my head. There are many more than I'm forgetting.
Dallas - IPA for multifamily, Newmark for Industrial, JLL for multi, office, retail. I also wouldn't be afraid of the new industrial team at JLL. They're young and new, but it's JLL and they get a lot of assists from the Houston team. I imagine they will grow into a strong team quickly.
Austin - JLL for office (sales and leasing) but CBRE and Newmark are also solid. ECR has a good leasing platform. JLL for industrial. Transwestern also has a solid industrial team that's young and is growing.
Houston - JLL for Industrial (they control most of the industrial deals that go through Houston and the Dallas team sort of works along side of them), Walker Dunlop actual does solid for multifamily, JLL again for retail and office.
Again, lots of good teams I'm forgetting. I did this in 30 seconds without looking at my past e-mails for reminders of who we've worked with. As others have mentioned, JLL does have a chokehold and it's pretty hard to go wrong being on their team for anything Texas related. I really can't think of many teams that are just straight up weak amongst the CBRE, Newmark, etc.'s. JLL beats them in most regards, but they all have solid teams too.
CBRE top dog for Austin Multi-family, Newmark top dog for Houston Multi-family
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