CBRE is expanding its offering in specialist valuation and advisory services in the US with the acquisition of Valuation & Information Group (VIG).
The commercial real estate services and investment firm has invested an undisclosed amount to buy the provider of appraisal and market feasibility services for senior housing and healthcare real estate.
Headquartered in Culver City, California, with additional offices in suburban Philadelphia, Austin and Chicago, VIG’s 23 employees will integrate with CBRE’s senior housing and healthcare team within the valuation and advisory services division, led by Daniel Lincoln.
CBRE said Marc Lussier and JP LoMonaco will continue to run the incoming team’s operations for CBRE as EVPs, with Dan Schneider leading the execution of assignments in the eastern US as VP.
The acquisition is part of CBRE’s plans to enhance its position in valuation and advisory services, and follows last year’s acquisition of Cold River Land, a provider of property tax payment services in the US.
In the last year, it also acquired specialist right-of-way appraisal firm IRR and Millman National Land Services, a provider of commercial land surveying services.
Tom Edwards, global president of VAS for CBRE, said: “VIG is the premier healthcare valuation firm and its professionals have a deep understanding of the industry; their expertise will be a valuable service for our clients in the rapidly evolving sector.
“We believe this acquisition combined with our existing national platform will make us the clear leader in senior housing and healthcare appraisal.”
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