Butler Burgher Group in Expansion Mode
- Apr 09, 2015
Just eight months after acquiring the Leitner Group Inc., Dallas-headquartered Butler Burgher Group has completed the integration of the New York City-based company, a move that strengthens BBG’s status as one of the four largest commercial real estate valuation and consulting firms in the country, and creates a vital footprint for the company in metropolitan New York.
“The integration is nearly complete and going very well. Our presence in New York City further solidifies our position as the leading independent provider of valuation and advisory services,” Diane Butler, CEO of BBG, told Commercial Property Executive.
BBG is in expansion mode, and the firm announced the acquisition of Leitner in August 2014, noting that the partnership also reinforced the firm’s status as the fastest-growing independent commercial real estate valuation and consulting firm in the U.S. The timing of the merger was just right for both companies.
“We were looking to build our presence in the key New York market. Joel [Leitner, founder of the Leitner Group] is well-known with strong client relationships in Manhattan and the greater New York and TriState area, and he was seeking to partner with a substantial firm that offers a national platform,” Butler said. “It was a great fit and is proving to be even more synergistic than we had hoped it would be.”
While the transaction gives BBG a solid New York position overnight, it provides Leitner–which will now operate as BBG, formerly Leitner Group–with an association with a top brand, a national presence and access to an advanced technology platform. It’s a win-win.
Despite the success of the Leitner union, BBG is not planning any additional acquisitions in the near future. However, Butler added, “We are always evaluating opportunities that would be strategic to our growth.”