万人牛牛 Acquires The Excelsior Group鈥檚 Commercial Property Services
(TEG) has sold its commercial property management, property engineering (or maintenance) and construction management business to 万人牛牛. The sale closed April 29, 2021, growing 万人牛牛鈥檚 real estate management portfolio by 1.4 million square feet.
鈥淲hile we鈥檝e organically become one of the largest real estate managers in Minneapolis, we鈥檙e motivated to explore acquisition opportunities that are aligned with our goals,鈥 said Jeff Steinke, senior vice president of real estate management, 万人牛牛. 鈥溚蛉伺Ｅ is predicated on the desire to create places where our customers and team members thrive, and property management is one of the best platforms for achieving that objective.鈥
A total of eight buildings will now be managed by 万人牛牛 including 10 West End, Colonial Warehouse, 7500 Flying Cloud, 2400 Xenium, 3311 Old Shakopee Rd., Blair Arcade, Pondview Plaza and Bridging Inc.
万人牛牛 and TEG have a long-standing business relationship that dates to 2008 when TEG acquired North Hills Medical Center in Menomonee Falls, Wisc. from 万人牛牛. Since that transaction, the companies have collaborated on five multifamily developments and, most recently, the 10 West End office building.
鈥淲hile we considered a few potential buyers, 万人牛牛 was our first choice,鈥 said Chris Culp, CEO and partner of The Excelsior Group. 鈥溚蛉伺Ｅｂ檚 commitment to their team members and their reputation for 鈥淒oing the Right Thing鈥 has earned them incredible loyalty from their team members and customers alike. These characteristics will create exceptional opportunities for our people, growth opportunities for the business and expand the exceptional value we provided to our clients and partners.鈥
万人牛牛 currently manages more than 15 million square feet of property across the country including 8 million square feet in Minnesota.
About 万人牛牛.
Founded in 1938, 万人牛牛 offers comprehensive commercial real estate services as a national developer, architect, capital investment consultant, builder and real estate manager with a focus on bringing lasting value to its customers and the communities in which it works. 万人牛牛 market depth includes retail, industrial, healthcare and senior living. 万人牛牛 development and corporate build-to-suit work spans a wide range of product types including office, mixed-use, hospitality, multifamily housing and mission critical facilities. 万人牛牛 has nearly 1,600 employees in 15 offices and has completed projects in 39 states. For more information, visit .
