Dynamic duos: Brad and Brent Farber
The sons of Steve run a real estate development business
(Editor's note: This is one of ColoradoBiz's “dynamic duos” of Colorado business, who reflect on their working relationships, what brought them together and where they’re going.)
Brad and Brent Farber
Brad and Brent Farber were born and raised in Colorado and had a healthy competitive spirit with one another. In 2007, after school and the starts of their careers, Brent, 40, decided to launch a real estate development business, acquiring properties in Denver.
Brad, 35, jumped on board Elevation Development Group in 2014. The company focuses on acquisition and development of commercial, residential and mixed-use properties in the Denver Metro area.
Their dad, Steve Farber, president and founding partner of local firm Brownstein Hyatt Farber Schreck, talks about his sons’ business and what it takes to establish a powerful partnership.
Q: What was your initial reaction when your sons said they were going into business together?
A: I was thrilled but wanted to make sure they had a plan and worked through the essential issues of owning and operating a business. I wanted them to be on the same page in terms of roles, responsibilities and financial issues for the business.
Q: Did you have any concerns about their partnership?
A: I did have concerns because of how tough partnership can be. With that said, I had confidence in them that they would maintain their close personal relationships through the ups and downs of business.
Q: What characteristics do Brad and Brent bring to the table that complement one another in business?
A: Brent and Brad have different educational backgrounds and business experiences that are very complementary to one another.
(Brent Farber received an MS in real estate development and worked at CIBC’s High Yield Group in New York City. Brad was an attorney with Brownstein Hyatt Farber Schreck, focused on acquisitions, financing, leasing and development of various real estate assets.)
Q: What advice did you have?
A: My advice to them was to maintain openness, honesty, fairness and the ability of both to work well with each other.
Q: What do you believe, from your own experiences, makes a good partnership?
A: Based on my experiences, the fundamental basis of any business is a high level of trust with your partners. In order to maintain that trust it is important to exhibit transparency and integrity.