BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Partners Trust Real Estate Brokerage & Acquisitions today announced the acquisition of Areté Estates, a Malibu-based luxury real estate firm known for representing high-net-worth clients and properties. Areté Estates’ Malibu headquarters will rebrand as Partners Trust and serve as their sixth location in the greater Los Angeles area that includes such notable locations as Beverly Hills, Santa Monica, Brentwood, and Pasadena.
“We have long admired the style, class, and level of services that Areté Estates has been known for,” said Partners Trust co-founder and associate Richard Stearns. “They have a great brand and culture, which we believe complements ours. Combining our brands will provide Malibu residents with the same level of services they have come to regard and supply them with the global reach that Partners Trust brings with this acquisition.”
Founded in 2009 by a partnership group of five people, Partners Trust has a unique equity-based business model. Through strategic expansion, the brokerage has attracted top talent and grown to 200 associates and more than $1.7 billion in annual sales. In addition to naming Partners Trust the Southland’s fastest-growing residential real estate company, the Los Angeles Business Journal has listed it among the “Best Places to Work in Los Angeles” for the each of the five years that it has been in business.
“The collaborative culture of Partners Trust aligns well with ours,” said Sarah Kosasky, founder of Areté Estates. “We are getting into business with a company that shares our values of innovation and client care. Joining forces is the best move for Areté Estates and enables Partners Trust on-the-ground access to Malibu.”
While the partnership is new, the relationship between these two companies is deep-rooted. Richard Stearns and top Areté Estates agent Katie Bentzen have been friends and colleagues for decades. “I met Katie years ago when we worked together at Fred Sands,” said Stearns. “It’s an honor to build upon Areté Estates’ foothold in the Malibu community.”
The new Partners Trust Malibu office is located at 29138 Pacific Coast Hwy, Malibu, Calif.