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Richter Reynolds & Lapp Commercial Raises Flag

DALLAS-Joe Foster quietly turns over the reins to his 33-year-old firm's brokerage and mortgage business to his long-time team of seasoned brokers.

By Connie Gore | Updated on April 14, 2008

[IMGCAP(1)]DALLAS-In a quiet transition, a group of seasoned brokers is working the streets under the flag Richter Reynolds & Lapp Commercial Inc. The creation of that name follows a lock, stock and barrel take-over of the 33-year-old Joe Foster Co.’s brokerage and mortgage business. Foster and the team will continue to share office space as part of the shift.

“We have had provisions for a changing of the guard in process for a couple years,” J. Mikel Reynolds, principal of the new firm, tells GlobeSt.com. “It wasn’t so much as everyone leaving as we’ve organized as a separate company.” The new firm’s principals include Leigh C. Richter, this year’s president of the CREW Dallas chapter, and Richard Lapp, who have 25 years and 35 years in the business, respectively, and Charles Hicks, a long-time client of Joe Foster Co. Hicks, sporting 37 years’ experience, is a residential lot developer, with projects at Lake Ray Hubbard in Garland and Bay Island of Roatan in the Caribbean Sea off the northern coast of Honduras. Now as before, Hicks will concentrate on development rather than brokerage, according to Reynolds.

“The new name is on the office door and our telephones, but that’s about it,” Reynolds says. “Our business cards come in Wednesday.” The office remains rooted in 5,700 sf at 8401 N. Central Expressway.

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