Daum Commercial Acquires Collins Commercial
- Apr 27, 2010
April 27, 2010
By Allison Landa, News Editor
Commercial real estate brokerage firm DAUM Commercial Real Estate Services has acquired 26-year-old Collins Commercial. DAUM chairman and CEO Michael Nubel will oversee the new entity and Michael Collins, formerly the principal of Collins Commercial, will become vice chairman of DAUM.
The acquisition involves more than 25 sales and staff members from Collins.
“In an era in which many other real estate firms are facing capital calls, DAUM is well capitalized and using that advantage to grow,” Nubel said when announcing the news. “Our growth capability at this point in the market, fueled by the partnership we created with our equity partner one year ago this month, will be fostered by the blending of DAUM and Collins.”
Collins also said that the firm had been approached by others seeking to acquire it, but that DAUM fit well. “I have known Mike for 30 years and our mutual respect and similar corporate cultures make this alliance a natural fit,” he said when the news was announced. “This represents a major strength move and will benefit the clients of both firms.”
Personnel from Collins’ Newport Beach office plan to relocate to DAUM’s expanded Newport Beach location. At the same time, DAUM’s Inland Empire sales team will move to Collins’ Ontario office.
DAUM provides a wide slate of commercial real estate services including brokerage, consulting, leasing, sales, corporate services and management of assets, construction, projects and properties. It was founded in 1904.