Clients Come First with Merger of Excelsior Advisory & Paramount Real Estate Corporation
Minneapolis, MN (June 23, 2021) – Excelsior Advisory, LLC and Paramount Real Estate Corporation today announced the companies are merging to create an industry leader in commercial real estate in the Twin Cities. The combined companies will operate under the new name Forte Real Estate Partners LLC beginning in August 2021.
Forte Real Estate Partners will excel in seven primary commercial real estate areas: Advisory, Brokerage-Acquisitions/Disposition, Project Management, Property Management, Portfolio Services and Workplace Solutions, which will broaden their 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 and bring vast experience and deep client relationships to the newly created company. 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, MN.
Excelsior Advisory, LLC, an affiliate of The Excelsior Group, was formed 7 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 & disposition services, and third-party property management. Together they offer deep, experienced resources to meet the commercial real estate needs of existing clients and new clients.
“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 Jim Jetland, President of Excelsior Advisory.
“We are proud of what Jim Jetland, Steve Brown, and their colleagues have accomplished on our platform. We have enjoyed the opportunity to work with them and watch their business mature over the last seven years. We know that the Excelsior Advisory team will continue to grow and bring tremendous value to their clients. We’ll be rooting for their continued success,” said Chris Culp, CEO of The Excelsior Group, who will exit the Excelsior Advisory partnership resulting from the merger with Paramount.
“Fred Hedberg and I have had the exceptional opportunity to work as business partners for the past 25 years,” said Phil Simonet of Paramount. “I am grateful for Fred’s leadership, vision and, most importantly friendship. We feel fortunate to be able to continue working together as we build Forte Real Estate Partners.” Phil went on to say “I am also extremely excited about my new partnership with Jim Jetland and Steve Brown at Excelsior Advisory, LLC. Jim and Steve are admired for their work ethic, career accomplishments and outstanding reputations in the commercial real estate industry and business community in general.”