Real Estate Synergy: Laird Norton Properties Is Merging with Heartland
For decades, the Laird Norton Company (our parent company) has been investing in real estate through its subsidiary Laird Norton Properties (LNP). In a strategic merger announced today, Laird Norton Properties is teaming up with real estate services firm Heartland LLC. “The combination of Laird Norton Properties and Heartland creates a fully integrated real estate enterprise that will allow LNP and Heartland to execute in any market or market cycle in this region and beyond,” said Jeff Vincent, president & CEO of Laird Norton Company and chairman of LNWM’s Board of Directors, in the press release announcing the merger.
Laird Norton Properties holds a diversified real estate portfolio throughout the West with properties in Seattle, Portland, Salt Lake City and Denver. Heartland is a long-established provider of strategic planning, analytical, transactional, capital alignment, investment and asset management services. As part of Laird Norton Properties, Heartland will provide asset management and other real estate advisory and capital alignment services for LNP’s office and multi-family portfolios, joint ventures with Spectrum and Unico, and future real estate assets.
LNP and Heartland have long worked together and the two cultures are similar, noted Jim Reinhardsen, who will become CEO of Laird Norton Properties. Jim, who was the co-founder, principal and managing director of Heartland, noted that “both Heartland and LNP take a long-term view and a relationship-first perspective in an investment world that largely has a short-term mentality.” Jim added: “In addition to providing LNP with the full breadth of real estate expertise, the resulting alignment of LNP and Heartland capabilities will create one of the most diverse private real estate enterprises in the region. We believe that the combination of LNP and Heartland will help fuel the growth of the LNP portfolio and accelerate the expansion of Heartland’s services throughout the western United States.”