Cypress Equities

What Cypress Equities does

Cypress Equities is a privately held, vertically integrated commercial real estate development and investment firm founded in 1995 by Chris Maguire and headquartered in Dallas, Texas. The company operates across the full real estate lifecycle—acquisitions, ground-up development, asset management, leasing, and property operations—with a portfolio of more than 200 investments, $5.2 billion in asset value, $2.2 billion of total invested equity, and over 20 million square feet of retail, office, residential, hospitality, automotive, hotel, and industrial product. The portfolio spans shopping centers (Bassett Place, Flagstaff Mall), open-air and lifestyle centers (Bayshore, The Hill, Crockett Row), mixed-use districts (Spanish Fort Town Center, The Boulevard, River District), experiential venues (The Power Plant), and multi-family residential (The Lydell), with offices in Dallas, Atlanta, New York, San Francisco, and Fort Lauderdale.

Cypress monetizes through four primary streams: development fees and lease-up economics on new construction (e.g., The Boulevard, Legacy Square, River District); ongoing asset management fees on a 200+ asset portfolio; leasing commissions and property operations revenue from in-house and broker partners (SRS Real Estate Partners, CBRE, Mid-America, Noel Real Estate Advisors); and transaction-based income from sale-leaseback and asset sales such as the 2026 Legacy Square divestiture to Lamar Companies and Real Capital Solutions. Capital structure is founder-controlled with project-level joint ventures co-invested alongside institutional partners including Stockbridge Capital Group and Life Time.

Go-to-market is relationship-driven and broker-led rather than transactional marketing: dedicated in-house leasing brokers such as Jeff Plauché cover multiple properties, while the SRS Real Estate Partners alliance and external brokerage relationships (CBRE, Mid-America) extend tenant origination. Tenant mix is anchored by national retailers—Walmart, Costco, Target, Kohl's, Apple, H&M, Bass Pro Shops, Dillard's, JCPenney—and increasingly diversified into fitness (Life Time, LA Fitness), healthcare (One Medical), entertainment (Movie Tavern, Sandbox VR, Dave & Buster's), and Class A office and multi-family residential. There is no meaningful technology or AI differentiation; the company's competitive edge rests on vertical integration, anchor-tenant relationships, and 27 years of entitlement and asset-repositioning experience.

Name

Cypress Equities

Legal name

Cypress Equities

Website

https://cypressequities.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

51–100 employees

Short description

Cypress Equities is a privately held, vertically integrated commercial real estate developer and operator founded in 1995, managing a 200+ asset, $5.2 billion portfolio of retail, mixed-use, office, hospitality, and residential properties across the U.S., serving institutional capital partners and national anchor tenants.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Lessors of Real Estate (5311), Real Estate Property Managers (53131), Offices of Real Estate Agents and Brokers (531210)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Assets — Operating Platforms & Direct Investments (FSAAAKAL)

Keywords

• Commercial real estate development
• Mixed-use property development
• Real estate investment management
• Retail shopping center operations
• Sale-leaseback transactions

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Real Estate Development: Cypress develops retail, residential, hospitality, and mixed-use properties. Revenue is generated through development fees, property sales, and lease-up of newly developed assets.
2. Asset Management: Ongoing management of owned and partner-owned real estate portfolios. Revenue generated through asset management fees on a portfolio of over 200 real estate investments.
3. Property Operations / Leasing: Leasing commissions and property operations revenue from managing retail, office, and mixed-use properties. The company operates a vertically integrated platform managing leasing across its portfolio.
4. Sale-Leaseback Transactions: The company participates in sale-leaseback transactions as part of its commercial real estate investment activity, generating both transaction fees and long-term rental income.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Cypress Equities develops, invests in, and operates commercial real estate across the United States, with a portfolio spanning over 20 million square feet of retail, office, residential, automotive, hotel, and industrial properties valued at more than $5.2 billion. Operating on a vertically integrated platform, the company handles acquisitions, development, asset management, leasing, and property operations through in-house teams and joint venture partnerships with institutional capital.

Product overview

Cypress Equities operates as a real estate development, operation, and management company with a vertically integrated platform offering services across acquisitions, development, asset management, leasing, and property operations. The company manages a diverse portfolio of retail, residential, hospitality, and mixed-use properties across the United States. The core products consist of shopping centers (Bassett Place, Flagstaff Mall, Legacy Square), mixed-use developments (Bayshore, Spanish Fort Town Center, The Boulevard, River District), lifestyle centers (The Hill, Crockett Row at West 7th), entertainment venues (The Power Plant), multi-family residential (The Lydell, Augusta Park), and various other commercial properties. The portfolio spans over 20 million square feet valued at more than $5.2 billion with over $2.2 billion of total invested equity.

Differentiator

Problem solved

Functional benefit

Products and services

• Bayshore An open-air, mixed-use shopping center in Glendale, Wisconsin featuring retail shops, restaurants, offices, and multi-family residential units. The center features the Bayshore Art Walk with local artists, The Yard outdoor community area, and hosts over 17 million annual visitors with 60+ retail tenants including The Cheesecake Factory, Apple, H&M, and Barnes & Noble.
• Legacy Square A 328,957 square foot shopping center development in Linden, New Jersey featuring a Walmart Supercenter anchor, up to six pad sites, and potential hotel site on approximately 47 acres along the primary retail corridor.
• Flagstaff Mall An enclosed shopping center serving Northern Arizona along Route 66 with over 50 stores including Dillard's, JCPenney, Hobby Lobby, Barnes & Noble, and Maurices. The 384,318 square foot mall was developed in 1979, expanded in 1987, and renovated in 2007.
• Bassett Place The original regional shopping mall in El Paso, Texas with 738,993 square feet of enclosed shopping space plus big-box outparcels. Anchored by Costco Wholesale, Kohl's, Target, Conn's HomePlus, Dave & Buster's, and Premiere Cinemas IMAX, located at the intersection of I-10 and Geronimo Drive.
• Spanish Fort Town Center A 475,742 square foot mixed-use development on 230 acres in Spanish Fort, Alabama, home to Bass Pro Shops Outdoor World and Kohl's. Includes retail, restaurant, residential, hotel, and office space with Town Center Park hosting signature events.
• The Boulevard A 400,000 square foot mixed-use development in San Jose, California at Stevens Creek Blvd and Saratoga Ave. Joint venture with Life Time featuring a 6-story 300,000 sq. ft. office building and a 3-story 100,000 sq. ft. Life Time athletic club with 1,200 space parking garage.
• River District A 30-acre mixed-use entertainment and residential project in New Orleans, Louisiana adjacent to the Convention Center and Mississippi River. Includes class A residential apartments, new office space, boutique retail, restaurants, and entertainment venues.
• The Lydell A 362,633 square foot multi-family residential property in Glendale, Wisconsin near Bayshore Town Center. Apartment residences with proximity to shopping, restaurants, and conveniences including H&M, Ulta Beauty, Nike, Barnes & Noble, Target, and Starbucks.
• The Hill A 243,900 square foot open-air lifestyle center in Dallas, Texas at Walnut Hill Lane and US-75. Features tenants including CAMP, Movement, Taco Deli, Snooze A.M. Eatery, Bella Green American Bistro, and Boardroom Salon for Men.
• Crockett Row at West 7th A five-block pedestrian-friendly urban village in Fort Worth, Texas totaling 281,813 square feet of Class A retail and office space. Features Movie Tavern, LA Fitness, Common Desk, Mash'd, One Medical, and Sandbox VR.
• Asset Management Services Ongoing management of owned and partner-owned real estate portfolios, generating revenue through asset management fees on a portfolio of over 200 real estate investments.
• Property Leasing Services Leasing commissions and property operations revenue from managing retail, office, and mixed-use properties, operating a vertically integrated leasing platform across the Cypress portfolio.

Quantifiable outcome

• Over 17 million annual visitors attracted to Bayshore Town Center following transformation
• +3 more outcomes

Named customers38 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered minor and core.

• Lamar CompaniesminorChannel Partner/ Reseller/ Distributor · 27 June 2026Lamar Companies and Real Capital Solutions acquired Legacy Square Shopping Center from Cypress Equities and Stockbridge Capital Group. This represents an exit transaction for Cypress's investment in Legacy Square.
• Life TimecoreStrategic or Co-development Partner · 1 January 2022Cypress Equities and Life Time formed a 50/50 joint venture to develop The Boulevard, a 400,000 sq. ft. mixed-use project in San Jose, CA. Life Time will anchor the project with a 100,000 sq. ft. (3-story) athletic resort, while Cypress leads the 300,000 sq. ft. office building development.
• SRS Real Estate PartnerscoreStrategic or Co-development PartnerSRS Real Estate Partners is Cypress Equities' sister company, and the two firms maintain a strategic alliance. SRS brokers (including Albert Flores) provide enterprise technology support, and SRS brokers are referenced in Cypress's tenant scouting for San Jose projects. The relationship enables unparalleled creative solutions through combined market intelligence.
• CBREminorChannel Partner/ Reseller/ DistributorCBRE commercial real estate brokers Mike Grado and Shane McNulty have been engaged to scout for office tenants at The Boulevard project in San Jose. CBRE acts as a broker intermediary for Cypress's leasing activities.
• Mid-America Real Estate Corp.minorChannel Partner/ Reseller/ DistributorMid-America's Dan Rosenfeld, Andrew Prater, Mike Fitzgerald, and Matt Chappell are listed as retail leasing contacts for Bayshore Town Center, representing Cypress's property leasing efforts.
• Noel Real Estate AdvisorsminorChannel Partner/ Reseller/ DistributorNoel Real Estate Advisors' Marnie Noel is listed as the office leasing contact for Bayshore Town Center in Glendale, WI.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• The Woodmont Company: Privately held, vertically integrated shopping center developer and operator with a similar U.S. footprint and asset mix to Cypress. Comparable in portfolio size, build-to-suit capabilities, and focus on retail-anchored centers, making it the closest direct peer.
• Sterling Organization: Private, vertically integrated retail real estate investment and operating firm focused on shopping centers, with comparable development, acquisition, and asset management activities. Highly relevant as a same-format, similar-scale competitor in U.S. retail real estate.
• Phillips Edison & Company: Public shopping center REIT with a portfolio concentrated in grocery-anchored necessity retail. Comparable to Cypress in operating shopping centers but with a larger, more institutional capital base; the closest public-market analog of Cypress's retail-anchor strategy.
• SRS Real Estate Partners: Identified as Cypress's sister company, jointly controlled through shared brand ownership (CE Brands, LLC). SRS provides tenant representation and brokerage services that complement Cypress's ownership and development platform, making it the closest affiliated peer.

Broad incumbents

• Brixmor Property Group: One of the largest publicly traded retail REITs in the U.S., focused on open-air shopping centers. Operates an overlapping asset type with Cypress but at substantially greater scale and with public-market capital access.
• Regency Centers: National, publicly traded REIT specializing in grocery-anchored shopping centers. Comparable in that Cypress's anchored retail centers compete for the same tenant base and capital pool, but Regency operates at meaningfully larger scale.
• Kimco Realty: Large public REIT focused on open-air shopping centers. An incumbent player in the same asset class as Cypress's Bassett Place, Spanish Fort, Flagstaff Mall, and Legacy Square, with substantially greater scale and capital access.
• JLL (Jones Lang LaSalle): Global commercial real estate services firm covering investment sales, leasing, asset management, and development advisory — overlapping with Cypress's leasing brokerage and asset management capabilities, but at vastly larger scale across geographies and property types.
• Cushman & Wakefield: Global commercial real estate services firm offering leasing, investment sales, valuation, and asset management. Comparable through shared CRE services offerings (brokerage and property services) with Cypress's in-house leasing and asset management functions.

Emerging players

• RJM Realty: Mid-sized private mixed-use and retail real estate developer/operator with development and repositioning capabilities similar to Cypress. Comparable in firm size and product focus, though at smaller AUM scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCcFSGZSi4lGwlVNh8XsUFFQ
• LinkedInlinkedin.com/company/cypress-equities

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cypress Equities