News
ACQUSITION OF NAI GLOBAL BY C-III CAPITAL PARTNERS IS COMPLETE
NAI Global, the largest network of independent commercial real estate firms worldwide, announced today that its previously reported acquisition by C-III Capital Partners LLC (C-III) has been completed. The transaction will help create a leading fully integrated commercial property services company that will operate in markets around the world. Locally based NAI Puget Sound Properties is the Puget Sound region’s representative of NAI Global with offices in Bellevue, Seattle and Tacoma, WA.
C-III is a leading commercial real estate services company engaged in a broad range of activities, including primary and special loan servicing, loan origination, fund management, CDO management, principal investment, title services and multifamily property management. C-III is led by CEO Andrew L. Farkas, who founded and was Chairman and CEO of Insignia Financial Group, Inc. (NYSE:IFS). Its principal place of business is located in Irving, TX, and it has additional offices in New York, New York; Greenville, South Carolina; McLean, Virginia; Chicago, Illinois; Dallas, Texas and Nashville, Tennessee.
NAI Global will continue to operate as a separate company under its current management. C-III will accelerate NAI Global’s growth by exploring business development opportunities in strategic locations, including New York, London, Singapore and other primary global business centers. It will also invest in the growth of the corporate solutions and capital markets offering, expanding asset/property management, project/facilities management and valuation services worldwide.
“NAI Puget Sound Properties has been a part of NAI Global for over six years. During this time, we have almost tripled in size to 37 brokers and have opened new offices in Seattle and Tacoma to partner with our Bellevue office. The NAI platform has allowed us to have international reach to blend with our local expertise,” said Steve Balkman, Principal of NAI Puget Sound Properties. “We expect C-III’s acquisition to help us locally gain market share and help us strengthen and diversify our real estate service offerings. Specifically, we plan to enter the property management business and grow our investment and office tenant representation capabilities.”
“The acquisition of NAI Global by C-III is very exciting for us at NAI Puget Sound Properties as it dovetails nicely with our company’s local growth plans and expanding services,” said Richard A. Peterson, Founder and Principal of NAI Puget Sound Properties. “NAI Global was already a great national and international platform, but with the power of the new ownership, we should see great things happening in the next few years.”
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