It was an amicable parting, say sources at I/ESG in New York. "It was a mutual agreement to part company based on philosophical differences." Apparently, those differences revolved mostly around Thalhimer's expansion beyond its territory. The parting was finalized last week.
"We have a great deal of respect for that organization," says the I/ESG source, and we expect to continue to do business together."
The Insignia alliance was created last year to give the Manhattan-based real estate firm farther reach into the secondary markets where "we do not own a brokerage operation." Thalhimer executives were not available for comment.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
