First Capital has acquired Coldwell Banker Commercial Advisors, a privately held affiliate of Coldwell Banker Commercial, for an unspecified price. The newly FC-owned entity will be called Advisors Commercial Real Estate.
Before the acquisition, CBC Advisors was the largest commercial brokerage firm in the Coldwell Banker organization and the top-performing Coldwell Banker Commercial affiliate globally. It had over $4B in assets under management and a closed volume of over $2B in 2017.
CBC Advisors deals in all major commercial asset types, as well as corporate, development and international services, including mergers and acquisitions. Since the company's inception, it closed about $9B in deals.
"This acquisition provides for a mix of investment and brokerage within a national asset management platform," FC Chairman Suneet Singal said in a statement. "CBC has distinguished itself as a boutique brokerage platform."
ACRE will include more than 150 brokers and other professionals in 12 offices, which will be the same 12 CBC Advisors had. They are in New York, New Jersey, Colorado, Texas, Arizona and the SoCal markets of Los Angeles, Irvine, El Segundo and Ontario.
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