Acquisition creates one of Austin’s largest CRE valuation and advisory firms
DALLAS, Sept. 25, 2018 /PRNewswire/ — BBG, a leading national commercial real estate valuation, advisory and assessment firm, today announced that it continues to strengthen its presence in the Southwestern region and the United States overall with the acquisition of HCP Advisors, an Austin-based commercial real estate valuation and advisory firm. Terms of the acquisition were not disclosed.
The acquisition marks another major milestone for BBG, one of the country’s largest and fastest-growing commercial real estate valuation firms with 28 offices nationwide.
HCP Advisors provided commercial real estate valuation and advisory services to some of the largest U.S. corporations and financial institutions. Its services included property valuation, due diligence, appraisal review, market research, site acquisitions, workouts, dispositions, and leasing and property tax consulting for multifamily, office, industrial, retail and other property types. The firm also assisted telecommunication companies on telecom infrastructure agreements with large commercial property owners.
BBG named HCP Advisors Principal Christopher Harman, MAI, CCIM as Senior Managing Director of the Austin office. His primary responsibilities will be overseeing the Austin CRE market, managing a national client base, and collaborating with BBG’s executive and technology teams on various strategic initiatives.
Mr. Harman, who founded HCP Advisors in 2001, has had a lengthy and impressive career in the Texas commercial real estate sector. Prior to HCP Advisors, Mr. Harman held several senior roles including head of global real estate for a Fortune 10 energy company and business development for a European- based private equity firm focused on distressed data center assets. Earlier, he had worked at several Texas real estate companies, including Trammell Crow.
BBG CEO Chris Roach commented on the acquisition: “Austin is recognized as one of the most dynamic real estate markets in the country, driven by a booming local economy, a desirable business hub, and an exceptional quality-of-life environment. The city’s remarkable growth makes it especially important to have a deep knowledge of this market to properly handle various zoning and land-use complexities. With this acquisition, we will create one of the city’s largest valuation teams offering the expertise and experience required to address our clients’ needs. We also see Austin as a strategic market that will contribute to BBG’s future growth.”
Mr. Harman added: “I and the other members of the HCP Advisors team are thrilled to join BBG. We will continue their mission to provide a unique and successful client-centric business model that offers a market-leading and conflict-free valuation platform. We are excited about the firm’s commitment to invest heavily in technology to keep pace with new innovations in this industry. We look forward to playing an integral role in BBG’s continued growth in an increasingly complex and rapidly changing commercial real estate market.”
BBG is a leading independent national commercial real-estate valuation, advisory and assessment firm headquartered in Dallas with 28 offices in key US markets.BBG has achieved a reputation for personal attention, on-time delivery and deep expertise in multi-family, office, retail and industrial sectors. For more information about BBG, please visit www.bbgres.com.