LOS ANGELES—Concord RE has unveiled its aggressive expansion goals. The Beverly Hills-based brokerage house has acquired Prosser Stevens Real Estate Investment, a multifamily investment sales-focused firm founded in 2011 by Kenny Stevens and Heidi Prosser Stevens. Formerly an independent operating firm under Keller Williams Commercial Realty, Prosser Stevens' 12-person team has moved to the Concord RE offices in Beverly Hills and will operate under the name Concord RE as a single firm.

“We have been really focused on multifamily investment sales for the past six years, and we were really drawn to Concord's full-service model,” Prosser Stevens, who is now chief operating officer and managing partner at the new firm, tells GlobeSt.com. “We really saw the benefit of being at a full service platform for both our agents, and most importantly, our clients. Because of where the market is right now—this is such an exciting time and there is a ton of growth—we felt like this was the best time to capitalize on this opportunity.”

Cultural compatibility was a key factor in the decision to combine the two firms. Concord has thoughtfully developed its inclusive culture while as the firm has organically grown into a multi-faceted platform. “Concord is a full service firm,” Yoav Sarraf, managing director at Concord RE, tells GlobeSt.com. “We started as a commercial brokerage firm, but organically grew over time to include property management, asset management, construction services, capital markets and so on. We wanted to deliver a full service to our clients. Today, people don't want to go to a different specialist; they want everything in one place and in one experience. That is what we have grown to be.”

While the Prosser Stevens, focused on multifamily investment sales, Reuben Robin, the CEO of Concord, agrees that the deal was less about the product type and more about a shared vision. “You are going to want to bring in a multifamily team, always, but this wasn't really about that,” he tells GlobeSt.com. “This was really about the amount of business that they are doing and who they are. We know them personally, which was really important to me. It was more about the volume of business than the type of business that they do.”

Prosser Stevens describes the firm's culture as “young and energetic,” while Sarraf says that they both share a similar outlook on the evolution of the brokerage industry. “From a cultural standpoint, the mind frame and the values are very similar between both companies,” he adds. “When it comes to who we want to be and who we want to be for our clients, our cultures really align. We both really want a team environment where we are all working together for the betterment of all our clients. There was really a similar mindset and vision in terms of who we wanted to be and where we wanted to go.”

Now that the two firms are fully integrated, they are focusing on the growth path ahead. Robin says that the firm will double in size by the end of next year, with 2,000 apartment units under management and 55 agents in the office. They have already started recruiting efforts, tapping Sara Vita, a 15-year Marcus & Millichap veteran, as their new director of operations. Their growth outlook, however, is a lot further than 12 months out. “We are looking at opening offices on the Eastside and Westside,” says Sarraf. “That will likely be the next step.”

LOS ANGELES—Concord RE has unveiled its aggressive expansion goals. The Beverly Hills-based brokerage house has acquired Prosser Stevens Real Estate Investment, a multifamily investment sales-focused firm founded in 2011 by Kenny Stevens and Heidi Prosser Stevens. Formerly an independent operating firm under Keller Williams Commercial Realty, Prosser Stevens' 12-person team has moved to the Concord RE offices in Beverly Hills and will operate under the name Concord RE as a single firm.

“We have been really focused on multifamily investment sales for the past six years, and we were really drawn to Concord's full-service model,” Prosser Stevens, who is now chief operating officer and managing partner at the new firm, tells GlobeSt.com. “We really saw the benefit of being at a full service platform for both our agents, and most importantly, our clients. Because of where the market is right now—this is such an exciting time and there is a ton of growth—we felt like this was the best time to capitalize on this opportunity.”

Cultural compatibility was a key factor in the decision to combine the two firms. Concord has thoughtfully developed its inclusive culture while as the firm has organically grown into a multi-faceted platform. “Concord is a full service firm,” Yoav Sarraf, managing director at Concord RE, tells GlobeSt.com. “We started as a commercial brokerage firm, but organically grew over time to include property management, asset management, construction services, capital markets and so on. We wanted to deliver a full service to our clients. Today, people don't want to go to a different specialist; they want everything in one place and in one experience. That is what we have grown to be.”

While the Prosser Stevens, focused on multifamily investment sales, Reuben Robin, the CEO of Concord, agrees that the deal was less about the product type and more about a shared vision. “You are going to want to bring in a multifamily team, always, but this wasn't really about that,” he tells GlobeSt.com. “This was really about the amount of business that they are doing and who they are. We know them personally, which was really important to me. It was more about the volume of business than the type of business that they do.”

Prosser Stevens describes the firm's culture as “young and energetic,” while Sarraf says that they both share a similar outlook on the evolution of the brokerage industry. “From a cultural standpoint, the mind frame and the values are very similar between both companies,” he adds. “When it comes to who we want to be and who we want to be for our clients, our cultures really align. We both really want a team environment where we are all working together for the betterment of all our clients. There was really a similar mindset and vision in terms of who we wanted to be and where we wanted to go.”

Now that the two firms are fully integrated, they are focusing on the growth path ahead. Robin says that the firm will double in size by the end of next year, with 2,000 apartment units under management and 55 agents in the office. They have already started recruiting efforts, tapping Sara Vita, a 15-year Marcus & Millichap veteran, as their new director of operations. Their growth outlook, however, is a lot further than 12 months out. “We are looking at opening offices on the Eastside and Westside,” says Sarraf. “That will likely be the next step.”