NEW YORK--(BUSINESS WIRE)--Second graph, second sentence of release should read: 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 (sted Through this deal, Situs and parent company, Ranieri Partners Asset Management, will gain both access...).
The corrected release reads:
SITUS ACQUIRES REAL ESTATE RESEARCH CORPORATION
Firm continues to expand suite of offerings through strategic acquisition
Situs, a global provider of commercial real estate (CRE) advisory services and integrated process and technology solutions, today announced it has recently 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 P. 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.
About Situs
Since 1985, Situs, a Ranieri Partners Company, is the premier provider of end-to-end commercial real estate and loan advisory services and integrated solutions, offering customized services to leading financial institutions, investors, owners, and developers. We offer four main services: enterprise and process improvement; capital markets and commercial real estate advisory; primary and special servicing; and creative staffing solutions. Our business provides customized solutions that mitigate deal execution risk for clients while maximizing operating margins. Situs is headquartered in Houston and has offices throughout the United States and Europe.
About RERC
RERC was founded in 1931, and is recognized throughout the industry as one of the nation’s most respected firms dedicated to valuation management and fiduciary services, appraisal and litigation services, and research, risk analysis, and publications. As an SEC-registered investment advisor, RERC has provided valuation management and independent fiduciary consulting services throughout the U.S. for all major property types and for a variety of multi-use and specialized property types. Quarterly investment criteria and independent analysis are presented for the institutional and regional commercial real estate markets, as well as for 48 major metropolitan markets, in the RERC Real Estate Report and in RERC’s annual forecast report, Expectations & Market Realities in Real Estate.
RERC is a wholly-owned subsidiary of the Situs Group LLC, one of the Situs Companies. RERC is an investment advisor registered with the Securities and Exchange Commission.
