As reported last week, NAI Global, the largest network of independent commercial real estate firms worldwide, announced that its previously reported acquisition by C-III Capital Partners LLC (C-III) has been completed. "The transaction pairs NAI Global’s network of commercial real estate firms totaling 5,000professionals and 350 offices in the U.S. and 55 countries around the world with an even broader range of financial and property management services offered by C-III, including loan origination and servicing," (www.costar.com, 2 Febraury 2012).
The following is an interview between CoStar News and Robert Lieber, Executive Managing Director of C-III, about the recent acquisition and future plans of C-III, as found on CoStar.com (a link to the full article can be found at the bottom of this page).
"CoStar: How does the NAI acquisition fit into your firm’s strategy of building a fully diversified commercial real estate services company?
Robert Lieber: NAI fits very nicely into our strategy, which is building a global, diverse real estate services platform at C-III Capital Partners. It’s a strategy not entirely different or distinct from what Andrew Farkas did in the 1990s when he created and built Insignia Financial Group. We think that the NAI portfolio of members provides us a unique opportunity to service the broader middle market, not just in the country, but globally. It’s an exciting opportunity.
C-III has a portfolio of properties that we are responsible for managing. While NAI Global is going to have to compete for that business on market terms like anyone else, we think that having NAI Global and our platform behind them gives the ability to grow the business and distinguish themselves in terms of the quality of the services they provide.
CoStar: Other than recapitalizing the NAI Global network, what other changes do you have planned for NAI Global? Expanding into more markets? New hires? New service lines?
Bob Lieber: We’re going to capitalize on the strengths of the NAI businesses and identify where we can add additional resources to grow that part of the business. NAI has a global footprint. We’ll want to look at where it makes sense to grow the business internationally as well as concentrate on growth here domestically. With relationships and capital, we think there are pretty exciting ways to grow.
CoStar: Are you planning to make more acquisitions? What opportunities do you see?
Bob Lieber: There are lots of opportunities to continue the growth curve we’re on, whether it be buying other special servicers or buying other property managers or service providers in the real estate business. It’s all very complimentary with what we’re trying to do as we build out our platform. We’re in a growth and acquisition mode. There are many parts to the business that we are considering," (CoStar.com, 2 February 2012).
For full article, click here: EXCLUSIVE: C-III Capital's Robert Lieber on NAI Global Acquisition and Growth Plans