Kenneth Aboussie, Jr. and John Kiltz shake hands on November 7, 2007, marking their decision to start a real estate firm together. This momentous meeting took place on Stonelake Blvd. in North Austin.
Stonelake forms a partnership with Merrill Lynch, but due to economic headwinds and new banking regulation, the partnership had to be terminated before capital was deployed. The breakup fee provided Stonelake the opportunity to become a fund manager.
Stonelake Opportunity Partners I formed.
Kenneth Aboussie, Jr. moves to Dallas to open Stonelake’s second office and build-out a team in Dallas.