DENVER — First Capital (“FC”) a private real estate company that focuses on owning, operating and acquiring real estate assets throughout the United States, has acquired assets of Coldwell Banker Commercial Advisors (“CBC Advisors”) for an undisclosed price, to form Advisors Commercial Real Estate (“ACRE”).
“This acquisition provides for a unique mix of investment and brokerage within a national asset management platform,” said Suneet Singal, chairman. “CBC has distinguished itself as a boutique brokerage platform with custom tailored solutions. Our approach to identifying unutilized value in dynamic secondary markets coupled with the credibility and trust CBC Advisors has earned in the investment community will greatly serve our investors and clients.”
ACRE includes more than 150 brokers and other professionals in twelve offices, located in downtown Denver, Colorado as well as New York, New Jersey, Texas, Arizona, and the Southern California communities of Los Angeles, Irvine, El Segundo, and Ontario. These offices will be servicing local, regional, and national markets. With this national footprint , ACRE leverages CBC Advisors’ scale and proprietary intelligence and management tools with First Capital’s expertise in private placement offerings and experience acquiring and repositioning assets with unutilized value in secondary markets.
“The new executive team of ACRE looks forward to joining First Capital,” said Rob Cord, the incoming president and chief executive officer of ACRE. “First Capital specializes in unlocking long-term value creation in real estate through proactive and hands-on asset management. This experience in revitalizing and relaunching assets with untapped value will be an incredible resource to our clients and brokers.” Mr. Cord transitions from president of CBC Advisors to leading the new company.
Prior to the acquisition, CBC Advisors was the largest commercial brokerage firm in the Coldwell Banker organization, and the top-performing Coldwell Banker Commercial affiliate globally, with more than $4 billion in assets under management and a closed volume of over $2 billion in 2017. CBC Advisors’ brokers and executives are experienced in all major commercial asset types, as well as corporate, development, and international services, including mergers and acquisitions, having closed approximately $9 billion in transactions since the company’s inception.
“We built one of the fastest-growing and top-performing commercial real estate brokerages in the United States,” said Brandon Fugal, chairman of CBC Advisors. “With offices spanning coast to coast, access to leading tools and resources as well as a full-service approach to the brokerage process, Advisors Commercial Real Estate will continue to operate as a force within the national real estate community for years to come under the direction of First Capital.”
CBC Advisors’ Chad Knoth, managing principal–retail at CBC Advisors in Denver, represented Rocky Mountain Sports Park (RMSP) last year, in the purchase of 620 acres in Windsor for the development of a $225-million sports complex, the largest sports park in the world upon completion.
All twelve offices will remain in the same locations, continuing operations with the same personnel and broker-client relationships.
