The nation’s two largest Coldwell Banker Commercial affiliates are now one. CBC Advisors, based in Salt Lake City, has entered into an agreement to acquire Coldwell Banker Commercial Alliance (CBC Alliance) from Sutherland Asset Management, a real estate investment trust, for an undisclosed amount.
The nation’s two largest Coldwell Banker Commercial affiliates are now one. CBC Advisors, based in Salt Lake City, has entered into an agreement to 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, according to Fugal. CBC Advisors has quadrupled in size within the past three years. The firm will maintain its expanded market presence with acquired office locations in New York City; Los Angeles and Orange County, California; Dallas and Fort Worth, Texas; Miami; and Denver. CBC Advisors has current locations in Alaska, Arizona, Nevada, California, Idaho and five offices in Utah.
All of the acquired locations will begin operating under the CBC Advisors brand, according to Fugal.
“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.
CBC Advisors will employ 450 real estate professionals following the acquisition, Fugal said.