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 management.
With operations in North America, Europe, and Asia, and a solutions portfolio encompassing Advisory Services, Loan Servicing, Risk Management, Consulting & Staffing, Valuation Management, and Business Process Outsourcing, Situs provides solutions across debt and equity CRE transactions.
Situs’s President, Steve Powel, will assume the role of CEO and lead the firm.
“We are excited to have entered into this partnership with Stone Point,” said Powel. “Their commitment as a strategic capital partner, along with the innovative solutions and services that Situs provides, will allow us to further expand our capabilities to benefit our clients.
“Given the current solid market conditions in our industry, I look forward to leading the Situs executive management team through this galvanizing high-growth stage.”