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Staubach Spinoffs Team To Aid Distressed Retail

DALLAS-SRS Real Estate Partners and Cypress Equities are creating Managed Services to target equity investors and lenders saddled with under-performing properties.

By John McCloud | Updated on March 15, 2009

DALLAS-SRS Real Estate Partners–formerly Staubach Retail Services–and Cypress Equities have joined together to form Managed Services, an allied company that offers real estate services targeted primarily to capital investors and lenders who find themselves landed with troubled or failed retail and mixed-use properties. SRS and Cypress, both based in Dallas, were spun off from the Staubach Co. following the company’s merger last year into Chicago-based Jones Lang LaSalle Inc. Arrow Retail, a Cypress affiliate that specializes in the acquisition and repositioning of distressed retail properties, is also part of the new alliance.

SRS CEO and president Clay Smith says the combination of his company’s national retailer connections and leasing network with Cypress Equities’ development and asset management experience will enable the two companies to provide a service not generally available to the type of clients it has targeted. “By bringing together Cypress Equities and SRS Real Estate Partners, Managed Services will be able to leverage the core competencies of each group while creating a real estate synergy unlike anything in the marketplace,” he says.

According to Scott Harrington, a Cypress partner who oversees the firm’s Southeast region from his office in Atlanta, the new venture foresees its client consisting largely of private investors, equity sources, banks and other financial institutions that have taken back struggling retail and mixed-use projects due to the failure of their owners or developers to keep up with payments.

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