Two of the largest Coldwell Banker Commercial affiliates in the nation have announced a merger in a bid to rebuild the brand as a national force.
Coldwell Banker Commercial Advisors (CBC Advisors), the largest CBC affiliate in the Western US, will acquire Coldwell Banker Commercial Alliance (CBC Alliance) from Sutherland Asset Management, a real estate investment trust, for an undisclosed amount.
“This historic acquisition and resulting expansion create a powerful national footprint, restoring the most respected brand in commercial real estate,” said Brandon Fugal, chairman of CBC Advisors.
“As the largest Coldwell Banker Commercial affiliate globally, CBC Advisors will now operate 27 offices coast to coast.”
The acquisition follows CBC Advisors’ strategy to establish a national platform in primary and dynamic secondary markets across the United States.
Recognized as the fastest growing mid-sized commercial real estate brokerage in the nation, CBC Advisors has quadrupled in size within the last three years. The firm will maintain its market presence with major office locations from New York City to Los Angeles.
All 10 CBC Alliance offices in first tier markets throughout New York, California, Texas, Florida, and Colorado will begin servicing clients under the CBC Advisors brand.
“We are redefining the commercial real estate service business by empowering our professionals with specialized tools and accessible resources to serve our clients’ commercial real estate needs that are inherently local,” said Lew Cramer, President and CEO of CBC Advisors.
“By harnessing the talent and capability of both organizations we will deliver the most effective solutions as a trusted advisor to clients on a local, national and international basis.”
“CBC Advisors is leading the 110-year-old Coldwell Banker Commercial brand as its largest affiliate and restoring the vision of industry pioneers Colbert Coldwell and Benjamin Banker,” said Fugal.
Peter Sabesan and Richard Selig launched the CBC Alliance office in New York City in 2012. Nationally, CBC Advisors has over 450 professionals in 27 offices .