After years of discussions, Dallas-based SRS Real Estate Partners has bought the boutique Tampa-based commercial real estate firm Meridian Retail Group.
About 10 years after John Fahey and Tyler McRae launched their boutique commercial real estate firm Meridian Retail Group in Tampa, the partners decided to sell it to one of their competitors — a national company with deep ties and pockets.
Before you start thinking of this is as a “if you can’t beat ‘em, join ‘em” kind of deal, stop. This was nothing like that.
Meridian, which has had numerous opportunities to sell itself in the past, had partnered on both sides of transactions with the competitor, Dallas-based SRS Real Estate, for years. So when an opportunity presented itself, what Fahey, 50, and McRae, 41, saw was a national firm with sensibilities that aligned with theirs, a firm with as common a sense of purpose as theirs and a firm that that could help them grow in the business.
In other words, they saw an opportunity. And they took it.
For the full story, go to Business Observer.