BBG, a national commercial due diligence firm, has acquired Izenberg Appraisal Associates, Inc., a New Jersey-based real estate appraisal and consulting firm specializing in litigation support and related services.
Terms of the transaction were not disclosed.
The acquisition expands BBG’s valuation litigation services and other capabilities in the region. The office, located in Chatham, is BBG’s third in the Northeast region and 36th office nationally.
BBG appointed Louis Yorey, MAI, MRICS, as senior managing director of the New Jersey office. Yorey will also remain as the National Practice Leader of BBG’s Advisory Services.
BBG also named Izenberg Appraisal Associates president Louis S. Izenberg, MAI, SRA, as managing director of the New Jersey office. The firm’s employees will also join the BBG office.
Since its inception, Izenberg Appraisal Associates has been involved in numerous precedent-setting court cases, including Hartz Mountain v Secaucus Township and the Sands Casino bankruptcy a.
BBG CEO Chris Roach commented: “Our acquisition of Izenberg Appraisal Associates significantly broadens our footprint in the Northeast and further establishes BBG as one of the country’s leading commercial real estate due diligence firms. ”