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Transwestern is bolstering its mid-Atlantic presence by acquiring two D.C.-area brokerage firms that focus on representing tenants: MGA and West, Lane & Schlager.
The Houston-based firm announced the two acquisitions Thursday, bringing Transwestern's mid-Atlantic team to more than 265 members and expanding its tenant advisory business.
“The cultural alignment and complementary skill sets achieved through this acquisition better position us to anticipate and respond to where the market – and the industry – is headed,” Transwestern Real Estate Services President Tom Lawyer said in a release. “In this way, we are prepared to deliver recommendations and solutions that drive measurable value to all real estate constituents.”
The MGA deal closed at the end of December and MGA has already begun operating under the Transwestern name. West, Lane & Schlager has signed a letter of intent with Transwestern and the deal is expected to close later this month, per the release.
West, Lane & Schlager has been in business since 1996, while MGA was founded in 2010.
Combined, the two firms acquired by Transwestern have 35 employees and will more than double its tenant advisory and workplace solutions team, Washington Business Journal reported.
These deals follow Transwestern's announcement earlier this week that it acquired Chicago-based MB Real Estate, a brokerage firm with 120 team members. The firm said it is using the acquisitions to expand its capabilities in places where it already operates.
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