C&C Jumps Into Property Mgmt. with RiverRock

SANTA CLARA, CA-Cornish & Carey Commercial/ONCOR International, a 75-year-old Northern California brokerage firm with 250 agents in 12 offices is now offering property management through a joint venture with RiverRock Real Estate Group, a six-year-old Santa Ana, CA-based West Coast property management firm led by John Combs that has 10 offices and 12 million square feet under management, mostly in Southern California. The joint venture, known as C&C RiverRock, wants Northern California alone to come close to that total within two years.

C&C chief executive Chuck Seufferlein says the partnership fills out the suite of services provided by C&C’s Asset Advisors Group to a growing number of institutional clients, including banks. With RiverRock, C&C’s Asset Advisors Group, which assists clients, lenders and special servicers with troubled assets, will now be able to provide clients with a more holistic solution, he says.

“Especially when addressing distressed assets, these clients prefer a single company who can support the full cycle of a property transaction: property management, marketing and repositioning, leasing, through the eventual execution of a sale,” Seufferlein says. “With the introduction of C&C RiverRock’s property management services, C&C is now able to [deliver] these…services through a single point of contact.”