MB Real Estate's leasing and management portfolio includes high-profile office buildings such as 181 W. Madison in Chicago. The company is now part of Transwestern Real Estate Services.Houston-based Transwestern Real Estate Services has expanded its presence in the Midwest with the acquisition of Chicago-based MB Real Estate, part of an strategy to extend its reach through"opportunistic" purchases throughout the year.
The acquisition, which closed in the final week of 2022, is part of Transwestern's strategy to grow not only its services company, but also its investment management and development businesses. Heard said MB Real Estate is active in the same sectors as Transwestern, including life sciences, health care, logistics and financial services. Those sectors, along with government agencies, have proven to be more resilient during the current downturn, he said.