Five-year-old commercial real estate firm SVN|Graham, Langlois & Legendre has merged into New Orleans-based Stirling Properties, which plans to expand its presence in the local market.
Though the deal, announced earlier today, is billed as a strategic merger, it’s effectively an acquisition of the Baton Rouge firm by the larger New Orleans company. But it makes sense from the perspective of both firms, says Justin Langlois, who formed SVN|GLL with Ben Graham and Steve Legendre in 2014.
“This will allow our group to compete at a level we haven’t been able to before,” he says. “This enables us to elevate our game and have a seat at the table on larger projects.”
For Stirling, which has a small but experienced team in the Baton Rouge market, including veteran broker Dottie Tarleton, the acquisition brings increased market share and more than 15 additional brokers, including the three principals, who will be named regional vice presidents and assume a leadership role at Stirling Properties.
“Stirling Properties is thrilled to join forces with the team at Graham, Langlois & Legendre,” says Stirling President and CEO Marty Mayer. “Their excellent reputation, strong local presence and successful track record are what immediately attracted us to the company.”
Stirling first approached SVN|GLL about the deal several months ago, says Langlois, adding the firm has had several offers over the years but none was the right fit until Stirling came along.
“We do a lot of deals with these guys,” he says. “They’re very good at what they do. Some of the best deals we’ve ever done has been with them.”
The acquisition is the latest of several changes in the local market. Late last month, four Beau Box brokers formed their own firm, Momentum Commercial Real Estate.
Earlier this week, veteran agent David Trusty announced he was forming his own firm, Trusty Commercial Property, after years at Coldwell Banker One.
