What Greenstone Partners does

Greenstone Partners is a Chicago-based commercial real estate brokerage firm founded in 2013 that provides investment sales and advisory services to private and institutional investors across the United States. The firm represents sellers and buyers of multifamily, industrial, retail, office, mixed-use, medical, and land/development assets, and through 2023 had closed more than $3 billion in cumulative transaction volume. Its stated client base spans both institutional counterparties (Brookfield Properties, Realterm, W Capital Management, Core Acquisitions, North American Real Estate) and private investors executing 1031 exchanges or out-of-state acquisitions.

The firm's core technology asset is a proprietary database of 95,000+ commercial real estate investors (with the website citing 110,000+ buyers and brokers) that enables targeted property marketing. Listings are concurrently distributed through four major CRE marketplaces — LoopNet, CoStar, Crexi, and Real Capital Markets — and amplified through proprietary email campaigns that achieve a 37% average open rate versus a 19% industry benchmark. Marketing data shows that 61% of capital originates from Central U.S. sources, with Western U.S. (18%), Eastern U.S. (12%), and non-U.S. (2%) sources making up the balance, and 54% of buyers ultimately closing via 1031 exchanges or as out-of-state investors.

Greenstone operates as a partnership-led boutique with approximately 20 professionals organized under CEO & Managing Partner Danny Spitz, Managing Partner Jason St. John, and additional Partners including Brewster Hague and Jordan Multack, supported by a COO (Clarence Marsh, MBA Chicago Booth), directors, investment analysts, and marketing staff. Revenue is earned exclusively through transaction commissions on closed deals — pricing is not publicly disclosed and is negotiated per transaction. The firm pursues a sales-led go-to-market model in which senior brokers work directly with institutional and mid-market private investors. Recent activity in 2026 includes the acquisition of D4 Realty and multiple producer and marketing hires, signaling an active expansion phase.

Name

Greenstone Partners

Legal name

Greenstone Partners

Website

https://greenstone-partners.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Greenstone Partners is a Chicago-based commercial real estate brokerage firm providing investment sales and advisory services to private and institutional investors across multifamily, industrial, retail, office, and mixed-use property types nationwide.

Ownership category

akta.pro rank

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D

Revenue model

1. Commercial Real Estate Investment Sales: Brokerage commissions on commercial property sales including multifamily, industrial, retail, office, and mixed-use properties. Through 2023, firm closed more than $3 billion in transaction volume.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Greenstone Partners provides commercial real estate investment sales brokerage for private and institutional investors, covering multifamily, industrial, office, retail, mixed-use, medical, and land/development properties across the United States. Services include investment advisory, market analysis and underwriting, and strategic marketing/buyer outreach powered by a proprietary database of over 95,000 investors and listings on LoopNet, CoStar, Crexi, and Real Capital Markets.

Product overview

Greenstone Partners is a leading commercial real estate brokerage firm offering a unified service platform centered on investment sales and advisory services. The core offering consists of CRE investment sales across all property types (multifamily, industrial, office, retail, mixed-use, medical, land/development), supported by investment advisory, market analysis/underwriting, and strategic marketing services. The firm operates a property listings platform accessible at greenstone-partners.com/properties for investors to browse available properties. Services are delivered through a team of experienced professionals backed by a proprietary database of over 95,000 commercial real estate investors and marketed through major industry platforms including LoopNet, CoStar, CREXi, and Real Capital Markets. The firm has closed over $3 billion in transaction volume through 2023.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Real Estate Investment Sales Advisory and brokerage services for the sale of commercial real estate properties including multifamily, industrial, office, retail, mixed-use, medical, and land/development assets across the United States, marketed through LoopNet, CoStar, Crexi, and Real Capital Markets.
• Investment Advisory Services Strategic guidance and analysis for private and institutional investors looking to buy or sell commercial real estate, leveraging market expertise and local knowledge across the United States.
• Market Analysis & Underwriting In-depth financial analysis and market research services to evaluate commercial real estate investments, with team members bringing prior finance experience.
• Property Listings Platform Online property search platform allowing investors to browse available commercial real estate listings with filtering by property type, price, size, and region.

Quantifiable outcome

• 97% median list-to-close price across exclusive listings
• +3 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature2 records

Partnerships

Four partnerships are on record, tiered core.

• LoopNetcoreGTM or Marketing PartnerLoopNet is an industry-leading commercial real estate marketing platform with more than 10 million monthly unique visitors and 8 million registered members. Greenstone promotes listings on LoopNet to reach tenants and investors with professional broker guidance.
• Real Capital Markets (RCM)coreGTM or Marketing PartnerRCM has executed 72,000+ assignments with 300,000+ industry professionals leveraging RCM to transact over $2.4 trillion in CRE transactions. Over 50% of all U.S. commercial assets sold over $10 million are brought to market using RCM's online marketplace annually.
• CrexicoreGTM or Marketing PartnerCrexi combines an active sales and leasing marketplace with marketing, analytics, and deal management tools. Crexi empowers nearly 2 million buyers, brokers, and tenants each month to explore over $2 trillion of property value nationwide.
• CoStarcoreGTM or Marketing PartnerCoStar is the largest commercial real estate information and analytics provider, helping create opportunity through reliable tools, resources, and deep understanding on over 5.9 million commercial real estate properties.

Scale indicators7 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Marcus & Millichap: Specialized CRE investment sales firm, the largest dedicated to investment real estate brokerage. Direct comparable in investment sales for multifamily, industrial, retail, office, and mixed-use; the dominant benchmark for boutique competitors like Greenstone.
• Newmark Group: Global CRE services firm offering investment sales, capital markets, and advisory across all major property types. Overlapping business model in CRE investment sales brokerage with institutional client base.
• JLL Capital Markets: Global CRE services platform with a large Capital Markets division handling investment sales and debt placement. Direct competitive overlap on institutional investment sales mandates.
• Cushman & Wakefield: Global CRE services firm with strong investment sales / capital markets practice spanning all major property types. Comparable in serving both private and institutional investors for investment sales.
• CBRE Investment Properties: Largest global CRE services firm with market-leading Investment Properties group handling institutional investment sales. Operates nationally and internationally; the highest-end comp on institutional mandates.
• Eastdil Secured: Premier CRE investment banking firm focused on institutional capital markets transactions. Comparable on the institutional investment sales side, particularly for larger deals where Greenstone competes for institutional sellers.

Direct peers

• Stan Johnson Company: Mid-sized CRE investment sales boutique specializing in net lease, retail, industrial, and office investment sales across the U.S. Closest size-comparable peer with a similar single-office, producer-led model and national buyer-database-driven marketing approach.
• SVN Commercial Properties: CRE brokerage franchise with offices across the U.S. handling commercial investment sales. Comparable in offering a collaborative, multi-office brokerage model for CRE investment sales, including multifamily and mixed-use.
• NAI Global: Global CRE services network providing commercial investment sales, leasing, and advisory. Comparable model: a network of regional offices handling institutional and private investor CRE transactions across property types.

Regional players

• Mid-America Real Estate Corporation: Midwest-headquartered CRE investment sales and advisory firm with strong presence in Chicago and the Central U.S. Closest regional peer to Greenstone's Central USA concentration.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/greenstone-partners-midwest
• Facebookfacebook.com/Greenstone.Partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Greenstone Partners