Newcomer AXCS Capital Acquires George Smith Partners
Los Angeles-based AXCS Capital has acquired LA-based capital markets advisory services firm George Smith Partners.
“We’re thrilled to join forces, combining their unmatched expertise with our vision to redefine how capital market advisory services are delivered to our clients, as we help drive the next phase of CRE capital markets via technological innovation,” AXCS CEO and co-founder John Day said in a statement. The acquisition amount was not disclosed.
George Smith Partners is a name with a lengthy track record. The firm has arranged more than $58B in financing for multifamily and other commercial properties since its founding in 1979.
"We’ve experienced tremendous growth over the course of the past 35 years. The next 35 years will be transformative for our business, and we look forward to moving the industry into a tech-driven future with AXCS Capital,” George Smith Partners principal and co-founder Steve Bram said in a statement.
AXCS Capital is a new kid on the block. The company was incorporated in California in March 2022, GlobeSt reported. Day’s LinkedIn page indicates that he started at AXCS in March 2022. AXCS bills itself as “a technology company redefining how capital advisory services are delivered in commercial real estate financing transactions,” but does not clarify what the technology is or how it differs from the way capital advisory services are traditionally provided.
An additional statement provided to Bisnow by a representative for the company said that “historically, archaic capital markets infrastructure is far too manual and inefficient,” and that AXCS Capital aims to “upend how capital markets services are currently delivered with modern, tech-enabled solutions that make the process simpler, more transparent, and more successful from start to finish.”