WASHINGTON--(BUSINESS WIRE)--Parmenter Realty Partners announced today that they will be opening a regional office in the D.C. Metro area. The new office will be the fourth for the commercial real estate investment and management firm based out of Miami which currently operates regional offices in Dallas and Atlanta. Christopher McGrew, the firm’s newest addition, has been selected as Managing Director to lead the D.C. office. McGrew is a 17-year veteran of commercial real estate investment, having sourced and closed approximately $2 billion worth of transactions in the Washington, D.C. and New York City metropolitan markets.
Darryl Parmenter, Chairman and CEO of Parmenter Realty Partners, discussed the decision to expand into the Mid-Atlantic region. “At this point in the market cycle, Parmenter sees potential opportunity for our investment strategy. D.C. has been on Parmenter’s radar for a number of years and, with over 350 million square feet of office space in a market that is in a state of flux, our experience tells us that it’s time to engage,” said Parmenter. “We’ve made the decision to bring in a local expert to access this opportunity and all of its potential.”
Parmenter went on to discuss the firm’s newest addition, “Chris’s expertise is so closely aligned with our focus area, including a proven track record in the acquisition, development, leasing, asset management, and disposition of value-add assets. His leadership skills and deep network in the Washington, D.C. market made Chris the clear choice to lead our efforts in this expansion.”
McGrew commented in a written statement, “I look forward to joining the Parmenter team and leveraging their well-established platform to grow the D.C. office. With a strong commitment from the executive team and the discretionary fund money available, Parmenter presented a unique and entrepreneurial opportunity.”
McGrew comes to Parmenter from Penzance Properties’ Washington, D.C. office where he served as Senior Vice President for the firm’s investment strategies. Prior to his experience with Penzance, McGrew acted as Managing Director for Argent Ventures and led the Commercial Acquisitions and Dispositions Group for Rockrose Development Corporation.
About Parmenter
Parmenter Realty Partners is a real estate investment, management and development company that operates a series of institutional investment funds focused on the Southern Tier of the US. Parmenter’s investment strategy utilizes its vertically-integrated platform to increase value on behalf of its investors.
If you’d like more information about this topic, or to schedule an interview on the topic with a Parmenter representative, please call Parmenter Media Relations at 305/960-2117 or by e-mail at MediaRelations@parmco.com.
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