Colliers Turley Martin Tucker, a St. Louis-based real estate firm with significant operations in Middle Tennessee, will merge with three East Coast firms, the companies said.
Colliers Turley, which operates one of the largest commercial real estate brokerages in Middle Tennessee from an office in Brentwood, has signed a deal to combine operations with Baltimore-based Colliers Pinkard, Washington, D.C.-based Cassidy & Pinkard Colliers and New York City-based Colliers ABR.
All four firms are affiliates of Colliers International, a network of independently owned commercial real estate firms.
Terms of the transaction were not disclosed.
The deal comes nearly two years after Colliers Turley formed a partnership with the Baltimore and Washington firms. At the time, that deal was described as a potential first step toward a merger.
"I think it was going so well it made sense to take the next step," said Dave McGahren, a Colliers Turley principal.
The four firms will continue to operate under their current names, but ownership will be transferred to a holding company based in St. Louis, McGahren said.
Colliers Turley, Colliers Pinkard and Cassidy & Pinkard have signed merger agreements.
Colliers ABR expects to do so by Labor Day, said Mark P. Boisi, that firm's chairman.
The combined company will be one of the largest in the nation, the firms said, with 288 million square feet of commercial real estate under management.
The company will have offices in 13 metropolitan areas, from as far west as Kansas City to New York City on the East Coast.
By merging, the companies will be able to consolidate some back-office functions.
They will also be able to offer a wider range of services than each firm could individually, including property management, investment sales and financial advice, they said.
"This gives us scale," Boisi said.
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