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Partners Trust acquires Areté Estates
On Thursday, July 17, Partners Trust Real Estate Brokerage & Acquisitions announced the acquisition of Areté Estates, a Malibu-based luxury real estate firm.
Areté Estates Malibu headquarters, located at the corner of Pacific Coast Highway and Heathercliff Road, will rebrand as Partners Trust and serve as their sixth location in the greater Los Angeles area.
Richard Stearns, Partners Trust co-founder and associate modeled the acquisition after an earlier business move the agency made into Pasadena via another boutique firm.
“It’s been a huge success,” Stearns said. “We built roots in a market we weren’t formerly involved in.”
For Stearns, choosing Areté Estates as their new foothold into the Malibu community was an easy decision.
“We have long admired the style, class, and level of services that Areté Estates has been known for,” Stearns said. “They have a great brand and culture, which we believe complements ours. Combining our brands will provide Malibu residents with the same level of services they have come to regard and supply them with the global reach that Partners Trust brings with this acquisition.
“The collaborative culture of Partners Trust aligns well with ours,” said Sarah Kosasky, founder of Areté Estates. “We are getting into business with a company that shares our values of innovation and client care. Joining forces is the best move for Areté Estates and enables Partners Trust on-the-ground access to Malibu.”
Areté Estates agent, Katie Bentzen, and Stearns worked together 25 years ago, and are looking forward to renewing their partnership, Stearns said.
“We’ve got an opportunity to come back together; It’s a win-win,” Stearns said. “The incremental business is there for both sides.”