HOUSTON-In its move to solidify a presence in the northeast, Transwestern has acquired Richards Barry Joynce & Partners LLC, a full-service commercial real estate firm based in Boston. RBJ will begin operating as Transwestern RBJ on Nov. 1, becoming the firm's 34^th US office.

Steven Purpura RJB managing director will serve as Transwestern's city leader under the new arrangement. And, according to Larry P. Heard, Transwestern president and CEO, no layoffs or contractions are in the plan. "Over time, given that Transwestern has a broad service line offering, we believe the Transwestern-RBJ office will expand over time to add additional service lines to serve their clients," Heard says.

Transwestern is no stranger to the northeast, having expanded into New York City in 2011. Heard tells GlobeSt.com that having boots on the ground in the Boston area has been one of Transwestern's priorities for a few years. "Boston is an important city to us from the standpoint of the quality of commercial real estate users and owners in the city, many of which we serve nationally in other markets," Heard points out.

RBJ was attractive because of its size (the company employs 39 partners and transaction professionals and eight support staff), activity and cultural fit for Transwestern. Heards says that cultural compatibility for a Transwestern target company involves characteristics including high levels of client service, an entrepreneurial bent, character, a high team orientation and a competitive drive. "That describes RBJ and why the firm is so attractive to Transwestern," Heard says.

Established in 2001, RBJ serves clients throughout the greater Boston market, as well as in cities across the US and internationally. RBJ has been named the “Small Business of the Year” by the Greater Boston Chamber of Commerce and has been honored multiple times as one of the “Best Places to Work” in the Boston Business Journal. RBJ is consistently one of the most active brokerage firms in Boston representing some of the largest tenants and landlords in the market.

Heard says Transwestern investigated a few firms throughout the Boston region, but kept coming back to RBJ. Though both parties liked one another and were interested in joining forces, the process itself took four or five years to solidify. "Like anything, we had our expansion priorities, and they had different priorities as well," Heard explains. "But we stayed in touch. There was the single mutuality of culture. We thought they were talented people and liked that they employed leading-edge technology to serve their clients."

The Boston buy is indicative of Transwestern's continuing expansion plans, both in the US and abroad. Heard says the company is in discussions with various groups and individuals throughout the United States. With presences in New York and Boston established, Heard says the focus is Latin America as well as the far northwest region in the United States.

In addition to growing in breadth, Transwestern wants to grow in depth as well. "We're committed to growing and expanding in the core cities in which we have a dominant presence," Heard says. "We'll continue to fortify our base."

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Transwestern Acquires Richards Barry Joyce & Partners

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