Boston real estate firm Richards Barry Joyce & Partners to be acquired by Transwestern of Houston
Transwestern, a Houston company, is acquiring the Boston real estate firm Richards Barry Joyce & Partners LLC.
The new Boston entity, to be called Transwestern RBJ, will eventually add to its 38-person staff and expand its services to include project management.
RBJ is mainly known as a commercial brokerage in the Boston area.
Terms of the transaction were not disclosed.
Transwestern is a national real estate firm with offices in 34 US markets.
In 2012, the firm oversaw the leasing and management of 1,404 properties and completed transactions totaling $6.22 billion.
“We’ve been looking at Boston for a number of years,” said Steve Harding, chief financial officer.
“The market is recovering, and we think there is a growth opportunity here.”
Steve Purpura, currently a partner for RBJ, will be the managing principal of the Boston office.
“We have a shared vision with Transwestern to provide superior client services,” Purpura said, adding that the deal will allow RBJ to grow and use Transwestern’s technology services.
RBJ was founded in 2001 by nine partners and serves a broad range of clients.
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