CohnReznick-NOI Merger Brings Strategic Synergies
- Jan 15, 2015
Gail Kalinoski, Contributing Editor
Saying the combination will create an industry-leading commercial real estate consulting practice, CohnReznick L.L.P., one of the top10 accounting, tax and advisory firms in the United States, is acquiring NOI Strategies L.L.C.
A price for the deal, which is expected to close Feb. 1, was not disclosed. The NOI team will join the advisory services arm and will operate as NOI Strategies, a division of CohnReznick. NOI Strategies CEO Tama Huang will become a principal with CohnReznick and will continue to lead the NOI division.
Established in 2003, NOI is a global real estate consulting boutique with offices in Chicago, New York, Dallas, Sydney and Vancouver, BC, Canada. It provides strategy, operations, technology and outsourcing services to many of the world’s leading commercial real estate owners, operators and investors. NOI’s clients represent a wide range of real estate concerns including retail, office and multi-family holdings.
“CohnReznick’s robust advisory services as well as its traditional accounting and tax services are an exciting complement to the platform for NOI,” Huang said in a joint release. “As we continue to design customized solutions from both inside and outside the commercial real estate industry, we sought a partner that would help us expand our platform, augment our resources, and contribute new ideas and best practices from their broad industry perspective.”
Huang said CohnReznick was the “perfect fit from both a strategic and cultural perspective.”
Headquartered in New York City, CohnReznick has offices throughout the U.S. and more than 2,700 employees including nearly 300 partners. The company declined to say how many employees will be added with the NOI acquisition. CohnReznick serves a large number of diverse industries, including commercial real estate, affordable housing, REITs, mortgage finance and consumer lending, and government contracting.
Keith Denham, managing principal and national director of CohnReznick Advisory Group, said the NOI Strategies acquisition is “just the first of several strategic moves for us in the advisory services group this year.”
“Combining NOI Strategies’ global experience and unparalleled industry knowledge with our broad suite of accounting, tax and advisory services means that we can together deliver the most forward-thinking solutions for clients’ complex needs and objectives,” he said in the release.