Commercial real estate services and investment firm CBRE has paid an undisclosed sum to buy Cold River Land, a provider of property tax payment services in the US.
Cold River Land offers real estate owners and lenders tax management services, including document management, data management, appeals, research and monitoring.
Tom Edwards, the global president of CBRE’s valuation and advisory services (VAS) said Cold River Land expands CBRE’s property and transaction tax capabilities, “enabling us to provide a holistic approach that meets all our clients’ property tax needs.”
Cold River Land’s employees will integrate with CBRE’s property and transaction tax services team within VAS.
CBRE said John Pearson, founder and managing partner for Cold River Land, will continue to run the incoming team’s operations as CBRE’s managing director of property tax payment services.
“By joining forces with the world’s largest real estate services company, we benefit from CBRE’s market-leading platform and can expand our comprehensive property tax management product that allows clients to focus on their business while we manage each parcel from appeal to payment,” said Pearson.
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