Texas-based valuation and advisory firm Butler Burgher Group (BBG) has entered the New York City market, acquiring the appraisal firm Leitner Group for an undisclosed amount.
During a transitional period following the transaction, the New York office will operate as “Leitner Group, now part of BBG.” Leitner Group founder Joel Leitner will continue to lead the New York office, working closely with Susan Kominski, BBG’s Senior Managing Director, Eastern Region.
“We have had a national footprint but no office in New York City. Entering New York with someone like Leitner was a big deal for us,” BBG’s CEO Diane Butler told Real Estate Weekly. She added that BBG has immediate plans to hire four or five new employees in New York, and may expand further in the future.
Butler explained that the deal was advantageous for both sides, as it offers Leitner a nation-wide reach and BBG local market expertise in New York.
Butler and Joel Leitner hope this national reach will make it easier to get assignments for real estate portfolios.
“What we are offering the marketplace is unique — independent valuation services on a national scale,” Leitner said in a press release. “In addition, both BBG and Leitner Group have a long history of primarily servicing the real- estate financial services community with consistency, sound judgment, integrity and on-time performance.”
By focusing on valuation and consulting with no conflicting service areas, “We will continue to be a provider of choice for our objective analysis and commitment to quality and service,” Kominski added.
BBG ranks among the five largest valuation and consulting firms with 21 offices nationwide. The New York office executes appraisals across all commercial sectors including office, retail, multifamily and industrial with special expertise in portfolio projects.
Deloitte Corporate Finance LLC acted as exclusive financial adviser to BBG in its acquisition of Leitner Group. Terms of the transaction were not disclosed. взять займ онлайн
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