Cassidy & Pinkard Colliers merges with 3 firms - Washington Business Journal:

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The merger deepens an existing relationshiplbetween District-based Cassidy & Pinkardr and Colliers Pinkard of Baltimore and Colliers Turley Martin Tuckerr of St. Louis. Those firms have held a 40 percenft interest inCassidy & Pinkard since Octobert 2006. The fourth company is of New They are all part ofCollierz International, a group of loosely affiliated real estat e services firms. When the transaction closesz at the end of this the four privately held companies will have poolexd their collective stock into aholdin company, tentatively called , but each will continud to operate as an independent subsidiart under its existing name, said Joseph Stettinius Jr.
, CEO of Cassidy & Pinkard Colliers. Terms were not disclosed. The combined company will have nearly 210 principals who are employee shareholdersand 2,000 total employees, Stettinius said. The firm’s combined annual revenues are expected totop $250 Cassidy & Pinkard ranks No. 8 on the Washingtonn Business Journal’s list of largesft commercial leasing brokers, with $13.01 million in revenue from metro-are leasing operations in 2007. The company has 45 brokers. “We have been successfulo partners sinceOctober 2006, so it is a natural step for us to leverages our relationship,” Stettinius said.
“Together, we will be able to providre additional services to our expanded career opportunities to our employeess and accelerated growth forour shareholders.” Some of those additional services include an increasex emphasis on corporate solutions and incentives practices, which two of the merginvg affiliates — Colliers Turley Martin Tucker and Colliersz Pinkard — already Stettinius said.
Corporate solutions are “soup-to-nuts” real estate servicesw for franchise-type tenants who need the same sort of spacw and amenities in every The incentives practices help corporate clients snarr financial incentives from local governments hoping to lure major employers intotheidr market. Cassidy & Pinkard currently offere those services by referring clients tothe St. Louis and Baltimorwe affiliates, with little to no benefit to Cassidy & Stettinius said. With shared ownership, Cassidgy & Pinkard will share in the profirt fromthose deals, Stettinius said.
Cassidy & Pinkarxd itself brings sizable brokerage and capital marketz practices tothe table, whichh it hopes to expand through the merger. Cassidhy & Pinkard sees the fourth Colliers ABR, as key to increasinyg its slice of the globalcapital “What this does in the capital markets arens is it gives us a bigger stage and also gives us a huge opportunith in New York,” said Robert Pinkard, chairman of Cassidyh & Pinkard. “New York is obviously a gatewayh market forinternational investors, and there is a lot of synergyh between these two cities.
” Stettiniusd and Pinkard firmly denied that the move was intendedr to raise capital in a tougbh — and rapidly consolidating — market. “We’re not doing this as a defensivemove — we’re doing it as an offensivse move,” Stettinius said. “It gives us the abilit y to expand, in a geographic what we already do, and it allowz us to become a leader quickly in things in whic hwe aren’t currently the market leader.
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