DAUM Commercial Real Estate Services Acquires Collins CommercialApr 27, 2010
In a strong show of its financial stability and appetite for growth, DAUM Commercial Real Estate Services, California’s oldest and most experienced commercial real estate brokerage company, has acquired 26-year-old Collins Commercial.
Continuing his role of Chairman and CEO of DAUM, Michael Nubel will oversee the newly expanded entity and Michael Collins, formerly the principal of Collins Commercial, will become Vice Chairman of DAUM. The acquisition involves over 25 sales and staff members from Collins.
“In an era in which many other real estate firms are facing capital calls, DAUM is well capitalized and using that advantage to grow. Our growth capability at this point in the market, fueled by the partnership we created with our equity partner Platinum Equity one year ago this month, will be bolstered by the blending of DAUM and Collins.” explained Nubel.
“We have been approached by other companies seeking to acquire us,” said Collins. “I have known Mike for 30 years and our mutual respect and similar corporate cultures make this alliance a natural fit. This represents a major strength move and will benefit the clients of both firms.”
“This is a positive corporate alliance, particularly in today’s challenging market,” added Nubel. “DAUM is currently seeking additional acquisition opportunities of smaller commercial brokerage firms in Southern California and Arizona. We see 2010 as an optimal moment for growth and expect to find additional well-suited opportunities, as well as attracting many more brokerage professionals to our forward-looking platform.”
Personnel from Collins’ Newport Beach office will be relocating to DAUM’s expanded Newport Beach location. DAUM’s Inland Empire sales team is moving into Collins’ Ontario office which will be co-managed by Richard C. John, a perennial high producer at Collins, and Kerry Cole, a veteran top producer and manager for DAUM.
DAUM Commercial Real Estate Services provides a full array of commercial real estate services including brokerage, consulting, leasing, sales, corporate services and the management of assets, construction, projects and properties. Founded in 1904, DAUM is California’s oldest and most experienced commercial real estate brokerage company. DAUM has nine offices throughout Southern California and Arizona. More information is available at www.daumcommercial.com. DAUM Commercial Real Estate Services is a member of ONCOR International, a premier global commercial real estate network representing more than 50 independent commercial real estate brokerages, with more than 2,200 associates in over 170 offices throughout 32 countries. More information is available at www.oncorintl.com.