Leadership

Cullen Aderhold

Managing Partner

Cullen Aderhold is Co-Founder and Managing Partner of Caliche Partners. His focus includes the sourcing and execution of new investment opportunities, portfolio management, capital formation and investor relations, and strategic planning.

Before co-founding Caliche, Cullen served 19 years as Managing Director in the Capital Markets Group at JLL and predecessor firm HFF, where he closed more than $5 billion in debt, equity, and investment sales transactions. Prior to joining HFF in 2007, Cullen began his career in commercial banking and investment banking in Dallas.

Born and raised in Dallas, Cullen is a graduate of Jesuit College Preparatory School and studied Finance at The University of Texas at Austin, earning a BBA from the McCombs School of Business. Cullen enjoys coaching his kids’ sports and outdoor time at the ranch with his wife and children.

Cullen will serve as Chair-Elect on the Executive Board of The Real Estate Council (TREC) in 2027, assuming the role of Chair of TREC in 2028. He is a graduate of TREC’s ALC leadership development program and served as the Chair of the ALC Program in 2025. He also currently serves on the Investment Committee for the Good Shepherd Episcopal School.

Preston Harrell

Managing Partner

Preston Harrell is Co-Founder and Managing Partner of Caliche Partners. He leads the firm’s sourcing and execution of new investments, development and leasing, portfolio management, and strategic planning.

Before co-founding Caliche, Preston was Senior Real Estate Manager at Johnson Development Associates, Inc. (JDA), where he opened the company’s Dallas office and led sourcing, site selection, development, and leasing for the Southwest region (Texas, Arizona, Nevada, Utah, Colorado). Previously, he was a member of CBRE’s National Partners industrial capital markets team, which executed disposition assignments totaling more than 220 million square feet. Earlier roles included investment sales with JLL and development and leasing with The McDougal Companies.

Preston earned a BBA in Finance with a concentration in Real Estate from Texas Tech University’s Rawls College of Business and serves on the Advisory Board of the Brownlee Center for Real Estate. He is a past Co-Chairman of the Dallas chapter of Stewards of the Wild, a program of the Texas Parks and Wildlife Foundation, and continues to serve on its Advisory Council. He is a member of the Touchdown Club of Dallas, which supports the Ashford Rise School of Dallas. He, his wife, and son are active members of Highland Park Presbyterian Church.