On Wednesday real estate investment company ""C-III Capital Partners LLC"":http://capitalpartners.com/ inked its name to an agreement approving acquisition plans for ""NAI Global"":http://www.naiglobal.com/, a global network of commercial real estate firms, potentially bringing the firm, with assets valued at nearly $150 billion, up to speed as an increasingly competitive force.[IMAGE]
According to ""Business Wire"":http://www.businesswire.com/news/home/20110622006170/en/C-III-Capital-Partners-Acquire-NAI-Global, neither company disclosed the terms of the exchange. By taking on ""NAI Global"":http://www.naiglobal.com/, ""Capital Partners'"":http://capitalpartners.com/ absorbs one of the nation's top-notch brokerage firms, with ""NREI's Top 25 Brokerages"":http://nreionline.com/research/real_estate_top_brokerages_10/ valuing the total worth of investment sales and leasing transactions for the former at $45 billion in 2010. It also acquires over 5,000 employees and 350 offices spanning 55 countries.
Both firms praised the deal in prepared statements.[COLUMN_BREAK]
""We have built the world's leading commercial real estate network, but we now believe it is time to take the enterprise to a new level and add even greater value to our members and our collective corporate and investment clients,"" said Jeffrey Finn, president and CEO of ""NAI Global"":http://www.naiglobal.com/. ""The combination with C-III will provide a depth of resources, talent and tools from which we can draw upon to accelerate our growth├â┬ó├óÔÇÜ┬¼├é┬ª This is a natural fit and extremely exciting news for the industry.""
""C-III plans to use its asset base, along with strategic acquisitions such as ""NAI"":http://www.naiglobal.com/, to create a fully diversified commercial real estate services company,"" said Andrew Farkas, ""Capital Partners'"":http://capitalpartners.com/ founder, noting the strategy deployed by his firm proved as successful for Insignia ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô the same real estate services firm that the past Wall Street luminary made famous in 1990 before a rival swallowed it in another acquisition.
This is the latest move in a series made by Farkas and his management team to signal the furtherance of mortgage origination, investment sales, and title insurance services. In March last year, ""Capital Partners"":http://capitalpartners.com/ bought out Centerline Capital Group's real estate fund and commercial mortgage servicing operations, marking a comeback for Farkas, according to ""InsuranceNewsNet.com"":http://insurancenewsnet.com/article.aspx?id=266751.
According to ""InsuranceNewsNet.com"":http://insurancenewsnet.com/article.aspx?id=266751, ""NAI Global"":http://www.naiglobal.com/ will continue to operate independently, with full rights to its name, books, and other properties until the transaction closes in the third quarter.
According to its Web site, ""C-III Capital Partners"":http://capitalpartners.com/, the parent company for C-III Asset Management LLC, continues to serve as the primary servicer for nearly $20 billion in commercial real estate loans.