Privately owned, full service real estate firms Parkway Property Investments, LLC (Parkway) and Midway Holdings, LP (Midway) have entered into a definitive agreement whereby the companies will form a new, fully diversified real estate investment, operations, and management firm. The new firm enables two nationally recognized firms with over 100 years of collective experience to share capital and complementary expertise. The firms will work together to increase investment and expand ownership and operations across the Sun Belt region and beyond, with a focus on creating remarkable places and sustainable assets.
The new combined firm, which will employ approximately 300 team members, will be headquartered in Houston, and will have people and/or assets in 13 markets across Texas, Florida, Georgia, Virginia, Arizona, Colorado, and California. The full integration of the Parkway and Midway teams is targeted for Q3 2023.
Upon full integration, Bradley Freels and James Heistand will serve as co-executive chairmen of the new firm’s board, and Jayson Lipsey and Jamie Bryant will serve as co-chief executive officers of the new firm. The remainder of the new company’s leadership team will include executives from both Midway and Parkway. A. Noni Holmes-Kidd will serve as chief legal officer, Matt Mooney will serve as chief operating officer, John Kosciulek will serve as chief financial officer, and Pam Jesse will serve as chief people officer.
Midway will continue to operate its development entity under current management.