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earlstone Partners, a leading condominium developer in Austin, has taken a significant stake in @properties Lone Star Christie's International Real Estate. The partnership makes @properties the exclusive listing agency for Pearlstone's portfolio and pipeline of condos, valued at nearly $1 billion. In exchange for an equity stake, Pearlstone has made an undisclosed financial investment alongside the exclusive listings agreement.

    The two firms are launching a new brokerage team, The Portfolio Edition Real Estate Group, to market and sell Pearlstone's condo projects, including 682 units valued at $935 million. This deal comes as Pearlstone co-founders Robert and Emily Lee retire, with former President Bill Knauss taking over as CEO and Chris Zaiontz becoming president.

    Pearlstone first spoke with @properties' Jerry Mooty four or five months ago when selecting a brokerage to sell its six-story development in Old West Austin, The Belvedere. The developer was looking to hire brokers individually for each listing but chose to build an exclusive team from the Christie's brand instead. The 12-person team will market and sell Pearlstone's properties, including Vesper, Zephyr Residences, and Parkside at Mueller.

    Pearlstone's portfolio includes several high-end developments, with units starting at $500,000 for one-bedroom residences in downtown Austin. The company is set to begin selling The Belvedere's 158 units in March, with pricing starting at $800,000. With interest rate cuts and a new presidential administration on the horizon, Zaiontz predicts a revival of demand in 2026-2028, making it an ideal time for Pearlstone to bring its projects to market.