"We didn't believe there was synergy between the businesses," Gary Walker, SCM's president, says of the sale to 15-year veteran, David Wyatt of Wyatt Residential in Arlington. The just-sold component is a roster with 50 condo units, all located within large complexes and all in Arlington.
Walker started SCM 12 years ago as a residential property management firm and expanded into one of the city's largest commercial real estate brokerage operations. The residential spin-off, he tells GlobeSt.com, went lock, stock and barrel for about $25,000 as he makes a move to wind down the condo management business. He says he was at a crossroads and had to decide whether to expand the line or sell. He's holding onto six notes for properties in East Fort Worth, where he also owns three condos. But in time, that too could go.
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