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Transwestern Buying Richards Barry Joyce to Expand Into Boston

September 9, 2013
Steve Purpura, currently a partner at RBJ, has been named managing principal for Transwestern's new Boston office, its 34th in the U.S.
Steve Purpura, currently a partner at RBJ, has been named managing principal for Transwestern's new Boston office, its 34th in the U.S.
Transwestern added a key market in its ongoing expansion in striking a deal to buy Richards Barry Joyce & Partners, considered to be one of the top commercial real estate firms in Boston and one of the few major local 'independents' remaining in the quickly consolidating U.S. market.

Richards Barry Joyce will begin operating as Transwestern RBJ on November 1, 2013. Steve Purpura, currently a partner at RBJ, has been named managing principal for Transwestern's new Boston office, its 34th in the U.S. Terms of the deal were not disclosed.

RBJ was established in 2001 by nine brokers who left national brokerage firms in Boston. They quickly established the firm as a market leader, especially for leasing services, representing some of the largest tenants and landlords in the market. RBJ has been ranked for the past two years as the number three commercial real estate firm in Boston based on amount of square feet leased.

"Our focus has always been on delivering the highest level of service to our clients," Purpura said in a statement announcing the agreement. "Joining Transwestern will allow us to maintain that focus, while making available a broader palette of services to landlords and tenants, both locally and beyond."

Based in Houston, Transwestern is a diversified real estate firm with more than 1,900 team members nationwide. In 2012, the firm oversaw the leasing and management of 1,404 properties with 283 million square feet and completed leasing, sales and finance transactions totaling $6.22 billion.

The firm has been actively hiring across its offices, expanding its leasing team and also bulking up its capital markets, tenant representation, multifamily and even healthcare services with key hires.




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