Three Chicago-Based Firms Form Joint Venture to Provide Real Estate Solutions for Malls, Lifestyle Centers
CHICAGO — Frontline Real Estate Partners LLC, Carr Realty Advisors LLC and Stillwater Advisory Group Inc. have formed a new joint venture known as Frontline Real Estate Partners- Shopping Mall and Lifestyle Division. The venture will provide its clients with receivership, property and asset management, and leasing and disposition services for malls and lifestyle centers.
“We have all seen the downturn of malls in recent years, with low occupancy levels and retailers going into bankruptcy. The pandemic expedited that even more,” says Matthew Tarshis, principal of Frontline. “We felt the urgency to form this new joint venture to provide real estate solutions for the distressed portion of this niche asset class.”
Tarshis is joined by Joey Carr of Carr Realty and Chris Facas of Stillwater. All three real estate firms are based in Chicago.