WASHINGTON, DC–Colliers International Group has acquired Serten Advisors, a 12-person tenant representation advisor firm based in Tysons Corner. The company, founded by Steven Hubberman and Paul Schweitzer, has national experience in more than 150 markets.
Colliers is acquiring Serten as a way to win new business in the Washington DC area market, according to Marty Pupil, Colliers International President | U.S. Brokerage. “Adding Steve and Paul and the rest of their talented leadership team to our existing group of professionals in the region will further position Colliers as the commercial real estate services firm of choice for the region's most successful companies,” he said in a prepared statement.
Broker firms are making acquisitions such as this one to either expand market share or, increasingly, to gain expertise in niche areas.
This acquisition, for example, follows an announcement made earlier this week by Perseus Realty and Transwestern Development that they were forming a partnership to pursue development.
Another example can be found in San Francisco, where CBRE Group announced it has acquired Custom Spaces, a technology-focused boutique real estate brokerage firm that advises on occupancy strategies
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
