Joss Realty Partners’ founder and two of its four other executive team members will join diversified financial platform Stewards as part of an effort to grow the platform's real estate business. 

The added team — Joss founding partner Larry Botel, Vice President Jamie DeRevere and real estate analyst Jake Tolkin — will be tasked with strengthening Stewards’ “institutional capabilities across real asset acquisition, underwriting, due diligence, asset management and investment strategy,” Stewards said in a Wednesday press release.

The move comes as Joss transitions to a public company, called Joss Realty REIT. It launched its initial public offering in February with 3 million shares of common stock.

Joss Realty’s portfolio consists of 14 office properties, according to its website, located in Philadelphia, Boston, Silicon Valley, San Francisco and Washington, D.C. In its REIT registration form, filed with the Securities and Exchange Commission in January and amended as recently as April, it said its initial portfolio includes three properties located in Boston, Philadelphia and the San Francisco Bay Area. 

Joss said in the form it intends to seek additional opportunities in the metropolitan areas where it owns properties.

"JOSS will continue to oversee its existing portfolio as those investments progress through their respective business plans and are ultimately realized," Stewards Chief Marketing Officer Scott McGowan told Bisnow in an email.

"Stewards has a right of first refusal with respect to certain JOSS assets as that process moves forward, which we believe creates an additional opportunity for Stewards to evaluate assets that may fit our long-term real estate strategy," he said.

Stewards, which also has businesses in private credit and technology-enabled financial infrastructure, said in the release it views its real assets business as a “stabilizing component” of its broader financial platform rather than a separate strategy. 

“We have been deliberate about building Stewards around complementary financial capabilities rather than any single asset class,” Stewards CEO Shaun Quin said. “Real assets are an important part of that strategy, and bringing Larry, Jamie and Jake into Stewards gives us an experienced team capable of evaluating and managing institutional-quality assets as we continue to scale the platform.”

Botel founded New York City-based Joss in 2005. The REIT registration form also lists Botel as the REIT’s CEO, president and director.

“Our success and our ability to manage anticipated future growth depend, in large part, upon the efforts of our key personnel, particularly Mr. Botel, our Chief Executive Officer, and Mr. McCulley, our Chief Operating Officer,” it said.

“Each has extensive market knowledge and relationships and exercise substantial influence over our operational, financing, acquisition, and disposition activity. If we lost either of their services, our network of external relationships and resources would be materially diminished.”