Acquisition of Tampa-based appraisal firm broadens BBG’s presence in Florida and Southeast region
DALLAS, Nov. 16, 2021 – BBG, a leading national independent valuation and assessment commercial real estate services firm, today announced that it acquired Tampa-based appraisal firm Trigg, Catlett & Associates. Terms of the transaction were not disclosed.
BBG named Frank Catlett, MAI, SRA, and Kyle Catlett, who serves as the firm’s President, as Directors at BBG’s Tampa office. The full-service firm’s other employees also joined BBG.
This acquisition further expands BBG’s presence in Florida and the Southeast region. In September, BBG acquired five Integra Realty Resources offices in Arkansas, Louisiana, Mississippi and Tennessee.
Trigg, Catlett & Associates offers appraisal services in multifamily, office, retail, industrial, manufacturing, RV/mobile home parks, agriculture, faith-based organizations, mining, and golf courses and other property types. The firm has conducted appraisals for banks and other financial services firms, government agencies, corporations, investors, and legal and accounting firms.
Frank Catlett served as the firm’s Chairman and has led a distinguished career in the appraisal industry for more than four decades. Mr. Catlett took over the firm’s operations in 1991.
His appraisal experience includes assignments involved in air rights, submerged lands, reservoirs, manufacturing and distribution, aquarium attractions, natural springs, communication towers, contaminated properties, transfer of development rights, and numerous conservation easements.
Frank Catlett has been an expert witness in courts in Florida and North Carolina as well as in several federal courts nationwide. He also has served as an instructor for the Appraisal Institute, an appraiser and reviewer for several government agencies, and as a Special Master to the Hillsborough County, Fla., Value Adjustment Board.
Kyle Catlett has spent more than 10 years as a commercial real estate appraiser at the firm. During this period, he has completed appraisals for all major commercial property types including hotel, multifamily, retail, office, subdivisions, eminent domain and various special purpose properties.
Kyle Catlett is licensed as a Certified General Real Estate Appraiser in Florida and in several Southern states and is a designated member (MAI) of the Appraisal Institute. He is a graduate of the University of Alabama and Jesuit High School in Tampa.
BBG CEO Chris Roach, MAI, commented on the acquisition: “Our acquisition of Trigg, Catlett & Associates represents an important and logical step in expanding our footprint in a region that is demonstrating strong economic and population growth. For decades, Trigg, Catlett & Associates has played a critical role in Tampa’s ongoing real estate development, earning it a reputation for being one of the most respected appraisal firms in Tampa and throughout the state. We are extremely fortunate to have Frank, Kyle and the rest of their team join BBG and look forward to their contributions to helping the company reach its strategic goals.”
Eric Hoening, MAI, Senior Managing Director of BBG’s Florida offices, added: “We are delighted that the Trigg, Catlett & Associates team is part of our group of highly experienced professionals. Trigg, Catlett has been a fixture in this market and industry with Frank and Kyle working with local and regional financial institutions to complex assignments from active mines to large conservation easements to right-of-way takings. This acquisition is another step in the complete geographic and service-line coverage that BBG has in Florida and throughout the Southeast. BBG and its clients stand to benefit greatly from this outstanding addition to our growing team.”
BBG offers comprehensive due diligence services including valuation, advisory, assessment, desktop evaluation, energy services, cost segregation, zoning, and ALTA surveys. Headquartered in Dallas, the firm has 46 offices in key US markets and more than 2,800 clients. As one of the Big Five national commercial real estate valuation firms, 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.