Hall Capital Commercial Real Estate and Spectrum Emery have merged to form Hall Emery, a commercial property development and investment company that will focus on assets in the Southeast and the Southwest.
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The new entity will pursue office, industrial and mixed-use deals between $15M and $50M, but could go as high as $400M for certain JV structures with institutional equity partners.
Hall Emery leadership will include Fred Hall, Pat Emery, Clay Moss and David Wells. Emery will be CEO, focusing on sourcing and executing new developments. Hall will be chairman of the combined entity.
Moss will be chief operating officer and lead the company’s investment and asset management operations. Wells will be president and in charge of commercial services operations, including third-party development, leasing and property management.
Hall Emery plans to acquire stabilized buildings, but also pursue value-add assets and develop new properties, depending on market demand.
“The primary source of capital will continue to be Hall Capital’s equity funds, but we’ll also have other sources for deals that don’t fit the fund structure,” Hall said.
The merger expands a relationship between the two companies that began four years ago when Oklahoma City-based Hall Capital, with Nashville-based Emery's help, acquired the 41K SF 54-60 Music Square East on Music Row in Nashville. The building sold this past summer.
The company will maintain offices both in Oklahoma City and Nashville.
Hall Capital is developing the mixed-use West Village in Oklahoma City in the century-old Ford Model T assembly plant building where Fred Hall's grandfather worked beginning in 1916. The development surrounds the 21c Museum Hotel and will include a restaurant and music venue, as well as apartments, office and retail space.
Pat Emery is best known as developer of 13 spec office buildings in the Cool Springs submarket of Nashville, totaling more than 2M SF. Two of these are underway, and one is in the design process.
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