April 5, 2018
The operations of Coldwell Banker Commercial Advisors have been acquired by Colliers International and First Capital in two separate transactions. CBC Advisors’ Intermountain operations—including Utah, where it’s the market leader; Alaska; and an office in Glendale, CA—will be rebranded as Colliers Utah. The operations in New York, New Jersey, Colorado, Texas, Arizona and the Southern California communities of Los Angeles, Irvine, El Segundo and Ontario will become Advisors Commercial Real Estate (ACRE).
For Colliers, “Salt Lake City was the only gap we had in terms of West Coast markets” and it’s “a dynamic market” to boot, Marty Pupil, Colliers International president | U.S. brokerage, told Connect Media. “To be able to fill that gap with such an outstanding group is very exciting. The Colliers Utah team is certainly the best of the best in Salt Lake.”
Dylan Taylor, Colliers’ president and COO, said the addition was “the latest in a series of strategic acquisitions that we have completed in the U.S., all of which have strengthened and diversified our operations to better serve our clients.”
At First Capital, chairman Suneet Singal said the ACRE acquisition “provides for a unique mix of investment and brokerage within a national asset management platform. CBC has distinguished itself as a boutique brokerage platform with custom tailored solutions. Our approach to identifying unutilized value in dynamic secondary markets coupled with the credibility and trust CBC Advisors has earned in the investment community will greatly serve our investors and clients.”
For comments, questions or concerns, please contact Paul Bubny