Residential brokerage firm Partners Trust has tapped a Douglas Elliman alumnus to head its newly-launched new development division, The Real Deal has learned.
Horacio LeDon, the former head of Elliman’s new development division in Florida and California and a veteran of the Related Companies, is charged with developing the company’s presence in the new development arena. He will be based out of the company’s corporate office in Beverly Hills.
“Downtown L.A. has rewritten the book on what Angelenos are doing from a lifestyle perspective and where they want to live,” LeDon said. “You’re starting to see the agencies finally realizing that new development can be another feather in their cap or a way to attract new business. We want to be a part of all that.”
At Elliman, LeDon was involved in bringing in the company’s first big L.A. new development project, Greenland Group’s Metropolis in DTLA. His other properties included Ian Schrager’s the Residences at The Miami Beach EDITION, the Faena House, and architect Rem Koolhaas’ Park Grove development in Miami.
Before joining Elliman in early 2013, LeDon was the founder of the eponymous brokerage Horacio LeDon Real Estate. LeDon operated his firm in Florida, New York and London.
A former Related Cos. executive, he was also the West Coast senior vice president for Starwood Capital’s ST Residential unit.
In his new position at Partners, LeDon said he plans to employ the Elliman model of bringing in top resale brokers to help sell new development product.
Partners Trust, led by Nick Segal, is the latest brokerage firm to make a push into new development in L.A. Venture capital-backed firm Compass recently poached Hana Cha, the managing director of the Agency’s new development division.