Preston Partners, Inc. has been serving clients since 1989. Yet, the company’s principals trace their lineage to family members who have been involved in the Maryland real estate community since the late 1880s.
Discharged in 1867 with $500 severance pay, Union Army Captain Preston Scheffenacker purchased his first home in Baltimore City. Though not a Baltimore native, Preston fell in love with the city and was quick to marry and make Maryland his home. With a little extra space and several extra beds, Preston was able to generate his first real estate profit in short term room rentals. Preston parlayed his initial rent earnings into more ambitious real estate housing, residential construction and land development. The Scheffenacker family business thrived for more than a century in residential construction and land development - building a foundation of trust, quality and success.
Today, company President David Scheffenacker Jr. oversees three real estate companies: Preston Partners, Inc., (commercial real estate services), Preston Financial, Inc. (commercial real estate financial services) and Preston Capital Management, Inc. (real estate development and investment). Collectively, the companies offer outstanding real estate opportunities and unrivaled, knowledge-based advice to an ever-increasing number of national and international clients.
Mirroring the tenacity and drive of its namesake, Preston Partners now completes more than $400 million in yearly transactions and has developed more that eight million square feet of commercial real estate to date. Uniquely connected by its people, technology and its president’s vision, Preston Partners is a company of strength and success for its employees, its clients and its community.