Nathaniel Hagedorn will buy out Charles Garney’s stake in Briarcliff Realty Co. The Kansas City-based company, to be renamed NorthPoint Development, became one of the Northland’s most-active commercial real estate players as a division of Briarcliff Development Co. It began branching out last year, winning the assignment to manage the 900-acre Horizons Riverside business park and buying the Tuileries Plaza mixed-use development.
Terms of the deal, set to be finalized around Feb. 10, were not disclosed.
Hagedorn and Garney acknowledged that their respective companies will be competitors in the Northland but pledged ongoing cooperation.
“Even though there won’t be a cross-ownership between Charles and Briarcliff Realty,” Hagedorn said, “we’re still looking to work together and help Charles in any way we can.”…