Andrew K. Farkas, chairman and chief executive officer of Insignia, says the purchase was motivated by the "growing corporate real estate services market developing in India for Western companies, which are capitalizing on high levels of education, IT knowledge and capability and low staff costs."

In addition, Simon Robinson, who had been director of international business at Insignia, has been named chief executive officer of Insignia Brooke. He will move to Hong Kong where his duties will include oversight of the India operations.

This is the latest move by Insignia to increase its presence in the Asia-Pacific region. Last December, the firm acquired Brooke's operations in Hong Kong, China and Thailand, which are now known as Insignia Brooke. Last year Insignia also opened an office in Tokyo.