CBRE, BT Commercial Negotiating Northern California Merger

SAN FRANCISCO-CB Richard Ellis and BT Commercial Real Estate expect to merge their Northern California brokerage operations this June, creating what they say would be a clear market leader with 14 offices throughout Northern California.

Pending a successful resolution of conditions required of such a transaction, the merged operations would be run by BT Commercial partner Michael Kamm and CBRE’s Oakland-based Senior Managing Director Michael Smith. CBRE Senior Managing Director Al Gianini would continue to be responsible for the Sacramento region.

While Smith was not immediately available for comment Wednesday afternoon, Kamm tells GlobeSt.com he is not selling the company and no cash would change hands in the deal. He describes the merger as a joint venture partnership that makes sense for both firms on strategic grounds.