CONCIERGE ASSET MANAGEMENT MERGES WITH CROSSBEAM CAPITAL

HOUSTON — Houston-based Concierge Asset Management, an investor, redeveloper and manager of apartment communities, has merged with Bethesda, Md.-based Crossbeam Capital, an institutional real estate investment fund manager. The combined company, Crossbeam Holdings, will focus on acquiring multifamily communities throughout the U.S. for redevelopment. The merger finalizes a partnership established last year that acquired seven multifamily communities, including closing on five multifamily communities in December 2010.