Excelsior Advisory, LLC and Paramount Real Estate Corporation are merging to create a new commercial real estate firm in the Minneapolis-St. Paul market. The combined companies will operate under the new name Forte Real Estate Partners LLC beginning in August of 2021.
Forte Real Estate Partners will work in six primary commercial real estate areas: advisory, brokerage-acquisitions/dispositions, consulting, project management, property management and lease administration, which will broaden its collective scope of services to the market.
The ownership team will include Jim Jetland and Steve Brown of Excelsior Advisory and Philip Simonet of Paramount Real Estate Corporation. All have worked in the commercial real estate industry for more than 35 years. Fred Hedberg, Principal of Paramount, will continue to provide commercial real estate services to his clients as part of the Forte team. The headquarters for the combined company will be located in Bloomington, Minnesota.
Excelsior Advisory, LLC, an affiliate of The Excelsior Group, was formed seven years ago to focus on tenant representation and real estate advisory, project management and lease administration services. Paramount Real Estate Corporation is celebrating 25 years of providing tenant representation, landlord representation, acquisition and disposition services and third-party property management.
“The two companies have a great deal in common and share a commitment to creating innovative real estate solutions, providing exceptional service to our clients and prospects, and continuing to develop long-term committed relationships. We are excited to build our culture around those core values,” said Jetland, president of Excelsior Advisory.