Coldwell Banker Commercial Gets Revitalized
- Mar 03, 2016
Salt Lake City—New life will soon be breathed into the century-old Coldwell Banker Commercial brand, courtesy of a merger between its two largest affiliates. Coldwell Banker Commercial Advisors has agreed to acquire Coldwell Banker Commercial Alliance from Sutherland Asset Management, a commercial loan REIT.
It will be quite an overnight expansion for CBC Advisors, which is not just growing for growth’s sake. “CBC Advisors invests in creating, developing, and maintaining the tools and technology that commercial real estate agents need to effectively advise clients, and our growth is a direct result of a that approach,” Lew Cramer, president & CEO of CBC Advisors, told Commercial Property Executive. “All of our growth prior to this acquisition has been entirely organic as brokers from competing firms discovered the opportunity to expand their business under the superior CBC Advisors platform.”
Together, the two Coldwell Banker Commercial affiliates will pack a powerful punch. CBC Advisors is the brand’s top performing affiliate in the world and the largest full-service commercial real estate brokerage in the Intermountain West, but it will take on new prominence with the merger. CBC Advisors will become the largest Coldwell Banker Commercial anywhere, with 27 offices across the country. The acquisition of CBC Alliance dovetails perfectly with the firm’s strategy of creating a platform with a strong presence in primary markets like Dallas, Los Angeles and Miami, and vibrant secondary locales such as Denver and Salt Lake City. “This merger allows further access to an institutional-grade platform that has been refined by 12 years of dominance in the Intermountain West,” Cramer noted. “In an ever more consolidated commercial real estate industry, CBC Advisors provides an effective alternative to brokerage, allowing a local approach with an entrepreneurial and decentralized culture.”
It’s that culture, which gives the agents their own reins, that CBC Advisors expects will reel in—and keep—the best of the best in an effort to deliver the best of the best. The firm is focused on bolstering its brokers as they provide services to clients not just on the local level, but nationally and internationally as well. “Agents choose each day whether or not they come back to our offices. We understand that it is our obligation to create a platform where agents believe it would be a disadvantage to ever consider leaving,” said Cramer. “This new entity now offers a quick and nimble structure that allows agents direct contact to decision makers so they can provide personalized support. At CBC Advisors, agents are empowered to build their personal net-worth through investment opportunities and building their book of business.”
With the CBC Alliance purchase agreement in place, CBC Advisors is reinvigorating itself and, now back on track with its original vision, will continue the expansion strategy it had been pursuing before the merger deal. Within the last three years, the firm has increased in size fourfold through a bevy of acquisitions, including Salt Lake City-based NAI Vista in November 2015. “We are committed to growth and further developing an extended national platform,” Cramer said. “CBC Advisors is actively perusing opportunities to provide our alternative to the traditional brokerage firm in additional markets across the country.”