Articles in the Mergers and Acquisitions Category
Situs, a global provider of commercial real estate (CRE) advisory services, has agreed to be acquired by funds managed by Stone Point Capital LLC, a private equity firm.
Stone Point is acquiring the stake in the company from Ranieri Partners and WL Ross & Co.
Over the past 30 years, Situs has offered business solutions to the world’s top financial institutions, investors, owners, and developers.
The company has evaluated over $1 trillion in CRE, resolved more than $50 billion in distressed assets, and has over $100 billion of assets under …
CBRE Group, Inc. announced that it has acquired IVI International, Inc. (IVI) and its related companies.
IVI provides construction, property condition and environmental consulting, due diligence and advisory services to the real estate industry.
The firm, based in White Plains, New York, has provided consulting services to lenders and equity investors on more than $50 billion of real estate projects throughout the U.S.
Founded in 1973, it has more than 200 employees in locations across the U.S. Led by Carl, Mario and Mark de Stefanis, Linda Bryson, and Robert Barone, IVI will complement …
Powerhouse New york residential brokerage Douglas Elliman last week announced a merger with a UK homes giant and a plan to bolster its own Manhattan commercial leasing strengths.
The largest residential brokerage firm in the city is merging with one of the largest residential brokerages in the UK to form a new international brand.
Douglas Elliman Real Estate and Knight Frank Residential say their partnership will result in the largest interactive and connected network for residential properties in the world.
The new Douglas Elliman Knight Frank Residential alliance will entail both firms sharing …
Mergers and Acquisitions »
Halstead Management Company announced the asset purchase of Gerard J. Picaso Inc., a property management company based in New York City.
Jerry Picaso, currently president of the eponymous firm, will join Halstead Management Company as managing director, executive vice president.
Picaso will continue to oversee more than 40 buildings with his business partner Susan Axelbank, and all of his expert staff together with the resources of the executives and staff of Halstead Property Management.
“We are very excited to bring a team that has such a high level of property management experience to …
Headline, Mergers and Acquisitions »
Private equity firm TPG Capital is in talks to buy the commercial brokerage Cassidy Turley, according to a report in Crain’s.
It wasn’t clear how much the Texas-based firm was willing to pay or how far the negotiations had come. Crain’s based its report on anonymous sources familiar with the talks.
Founded in 2008, Washington, D.C., based Cassidy Turley is one of the country’s leading real estate brokerage and services firms with more than 3,000 employees. The deal would be the latest in a wave of consolidations in the commercial brokerage industry. In May, UK-based real estate services firm Savills had bought the New York brokerage Studley for $260 million. In 2011, a merger between brokerages Grubb & Ellis and Newmark Knight Frank created Newmark Grubb Knight Frank.
Mergers and Acquisitions, Retail »
Investment Corporation of Dubai (ICD) today announced that it has completed the purchase of a significant equity interest in the leading international developer and operator of destination resorts and luxury hotels, Kerzner International Holdings Limited (KIHL), from the Kerzner family and several other institutional investors, for an undisclosed sum.
Istithmar and certain affiliates of Goldman Sachs and Colony Capital will continue to have significant holdings in the Company.
KIHL operates globally under the One&Only and Atlantis brands, with international presence in Dubai, The Bahamas, Mauritius, The Maldives, Mexico, South Africa and soon, …
Mergers and Acquisitions »
Didit, a digital advertising and marketing company based in Mineola, NY, has acquired LVM Group, a Manhattan-based public relations firm.
This acquisition enables Didit to expand its public relations presence to New York City and penetrate new industry sectors, and LVM Group to offer a much broader array of services.
“We are very excited to integrate the services of LVM Group into our Didit family of marketing services,” says Kevin Lee, chief executive officer of Didit. “Public relations people are the storytellers, and we can now support their efforts through various …
Direct Energy has completed its acquisition of Hess Corporation’s Energy Marketing Business (HEM).
According to Hess, the total consideration was $1.2 billion. The company has now raised a total of $4.5 billion this year as it divests itself of non-core business to focus on funding drilling-and-exploration.
HEM supplies natural gas and electricity to 23,000 commercial, industrial, and small-business customers in the eastern half of the US.
The combination of HEM and Direct Energy Business creates an industry leading energy marketing organization serving commercial and industrial customers across, North America. The new Direct Energy …
W. P. Carey Inc. has announced a $4billion merger with its non-traded REIT affiliate Corporate Property Associates 16 – Global Incorporated, know as CPA:16 – Global.
Following the merger, the combined company is expected to have an equity market capitalization of approximately $6.5 billion and a total enterprise value of approximately $10.1 billion.
The combined portfolio will consist of more than 700 properties with 86 million square feet of corporate real estate leased to 231 companies around the world. W. P. Carey president and CEO Trevor Bond said the deal …
Mergers and Acquisitions »
The partnership of four New York real estate principals who acquired Winoker Realty in February has re-launched the brokerage as EVO Real Estate Group.
Dana Moskowitz, the newly-named president of EVO, made the announcement. Her partners in the acquisition are Ira Fishman, who serves as CEO, and Nathan Halegua and Josh Halegua, principals
Fishman will focus on client relations and developing new business; Halegua will be involved with acquisitions; Halegua will devote his attention to management; and Moskowitz will supervise day-to-day operations and oversight of the leasing division.