Commercial real estate brokerage Maestas & Ward is expanding its staff and considering a move into residential real estate, according to managing partner, Steve Maestas.

“We are not participating in the current discussion about the recession,” Maestas said. “We are investing in this company and moving optimistically forward and are recruiting. There is a transfer of wealth in down times and there will be change and a chance for opportunity.”

Maestas said the company currently has 14 advisers and could accommodate as many as 20 more, but does not have a set number in mind.

The firm is seeking to add future services that could include appraisals and government services. Maestas also hopes to bolster the firm’s property management and industrial wings. A diversification into residential real estate is still being analyzed.

“We are studying residential and are focusing on the higher level adviser segment as opposed to doing something that appeals to the masses,” he said. “If we did residential we would be a boutique. We will do it when the market tells us [to].”

The firm, among the fastest growing retail and commercial office brokerages in Albuquerque, recently doubled its office space, moving into 6801 Jefferson NE. It currently ranks fifth in the Business Weekly’s list of the top 25 largest commercial real estate firms in the state.

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