MIAMI — Drive Development Partners, a boutique development advisory and construction management firm, has merged with Lloyd Jones, a real estate investment firm. Both companies are headquartered in Miami.
Drive, which specializes in senior living and multifamily developments, matches Lloyd Jones’ current $1 billion portfolio which consists primarily of those two asset types.
Drive’s managing partner in Florida, Michael Hass, will assume the role of senior vice president of development, design and construction at Lloyd Jones. The company currently has one ground-up senior living development under construction in Florida and acquisitions underway in Tennessee, Minnesota and Nebraska. Several more acquisitions and ground-up developments are in their pipeline for 2022 and 2023.
In addition to the Lloyd Jones portfolio, the merger allows Lloyd Jones to build out its third-party services, which include: development advisory, owner’s representation, construction management, project consulting and program management.
The clients of Drive’s Florida office will now be serviced out of Lloyd Jones’ Miami office
The Phoenix office of Drive Development Partners is not affected by the transaction and will continue operating under the Drive name.