ARLINGTON, VA-Two boutique real estate firms, FD Partners and Stonewater Partners are merging into a new company this July called FD Stonewater. Part of their business plans calls for establishing a private equity value-add fund that will take advantage of their respective strengths, one of the new company’s principals tells GlobeSt.com.

FD Partners’ specialty lies in the acquisition, leasing, and development of federal government occupied real estate. Stonewater, for its part, has focused on corporate single tenant acquisitions and asset management and corporate advisory services. "Our business plan calls for an appropriately-sized fund that will invest nationwide in these areas," Joe Delgou says. He declined to discuss the fund’s size, noting that many companies have raised large-sized funds that were not fully or even partially, in some cases, deployed. "We are working to structure something that is sensibly-sized that we believe we can manage." 

Other elements of the business plan call for an increased headcount of one to two analysts and one junior developer, he adds. Still, the company’s plans do not call for it to move beyond the boutique category, he says. "We will have a larger footprint but we do not aspire to be a large firm." 

FD Stonewater will be headquartered here with offices in New York and Los Angeles. The firm has six principals besides Delogu: Richard Mann, David Alperstein and Claiborne Williams, who will be based in Arlington. Jeff Toporek will man the New York office and David Stade will be based in Los Angeles.