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Posted by: Peter Coy on October 30, 2009
Seven-time Tour de France champion Lance Armstrong is going into commercial real estate. According to a news release today:
Armstrong … has joined with longtime agent Bill Stapleton and business manager Bart Knaggs to form CSE Realty Partners, a privately-held real estate investment company based in Austin, Texas. The trio, responsible for directing more than 20 successful enterprises since 1995 … have recruited 20-year real estate industry veteran Lance Sallis to lead the new company.
As if that’s not enough athletic ability for one real estate company, the team will also include Patrick Jeffers, a former NFL wide receiver who played for the Denver Broncos Super Bowl XXXII Championship team.
Armstrong is a natural-born entrepreneur. He’s also co-founded businesses ranging from hotels to artist management to live events to a bicycle shop to LiveStrong.com.
Note to the Austin real estate community: Do not, repeat not, accept an invitation to play these guys in any “friendly” game you can think of.
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.