Situs, a global provider of commercial real estate (CRE) advisory services and integrated process and technology solutions, it has facilitated the acquisition of Real Estate Research Corporation (RERC) - one of the first and most recognized consulting firms to provide valuation management and fiduciary services, appraisal and litigation services and research, risk analysis, and publications.
The acquisition of RERC enables Situs to provide an expanded suite of services and solutions to its clients, including equity side focused knowledge and capabilities, which complement Situs' debt side expertise and products. Through this deal, Situs will gain access to a client base that includes significant equity providers - such as insurance companies and pension funds - as well as the ability to offer its customers deeper CRE data analytics.
"RERC will provide us with the additional resources, management experience and expertise that will benefit our valued clients," said Keith Johnson, CEO, Situs. "The combined offerings of our two firms will enable companies to access a robust menu of advisory and technology solutions, as well as an abundance of intellectual capital to meet their needs in today's challenging commercial real estate market. We are excited to bring an organization like RERC in to the Situs family, given its longevity and quality reputation in the industry."
"Our firms complement each other very well as we are able to leverage Situs' core strengths to enhance our business proposition," said Kenneth Riggs, Jr., RERC president. "Our valuation management and consulting services have been extremely successful to date; we are excited to explore more opportunities under Situs' lead in order to best serve the marketplace."
Under the terms of the agreement, both Situs and RERC will retain their separate corporate identities/names, internal management and staffing structures, as well as their respective client service work. In addition, RERC will continue to publish the RERC Real Estate Report and Expectations & Market Realities in Real Estate, and seek to include additional debt research in its risk analysis and reporting. Tags: