Cassidy Turley Completes Acquisition of Carter's Brokerage and Property Management Businesses

ST. LOUIS, Sept. 6, 2011 /PRNewswire/ -- Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it has completed its acquisition of the brokerage and property management businesses of Carter, a national leader in project development, commercial real estate services and investments.

Effective immediately, Carter's Chairman and CEO, Bob Peterson, and its President, Scott Taylor, will have dual roles and provide leadership for both Carter and Cassidy Turley's Atlanta and Tampa offices.  Additionally, Carter's former Brokerage Services and Property and Facility Management groups will operate as Cassidy Turley. Carter will continue to focus on its existing national Development, Project Management, Investments, Asset Management and Strategic Consulting businesses under the "Carter" name brand.

"Our acquisition of Carter allows us to expand Cassidy Turley's service offerings, including investment sales, finance, tenant representation, project leasing and corporate services, and gives us a significant presence in two major markets, Atlanta and Florida, strengthening our geographic footprint in the Southeast," said Mark Burkhart, CEO, Cassidy Turley. "Our expansion is important, particularly in today's economy, as our clients are rethinking their financial, operational and growth strategies to improve their return on investment and are looking to firms like Cassidy Turley to deliver integrated services, economies of scale and geographic reach."  

"This transaction with Cassidy Turley enables us to leverage our property leasing and management services for Class A product across the nation to better serve our clients," said Bob Peterson, Chairman and CEO of Carter.  "Cassidy Turley's growth strategy is smart, selective, thoughtful and client-focused – they are one of the few firms today to recognize the level of service quality and sophistication that clients demand."

See an interview with Cassidy Turley's CEO Mark Burkhart and Carter's Chairman and CEO Bob Peterson here.

Other Carter executives joining Cassidy Turley as part of the acquisition include Holly Hughes, who will serve as Senior Managing Director of Property Management, Cassidy Turley, and Mike Shelly, who will serve as Senior Managing Director of Brokerage Services, Cassidy Turley.  

About Carter

Founded in 1958, Carter is one of the country's leading real estate development, investment, and advisory firms. The firm has headquarters in Atlanta and operations across the country.  Carter's high-caliber associates create value for clients using a team-based approach that leverages strong expertise and a deep knowledge base in a wide variety of markets.  Carter is the country's third-largest commercial developer, according to National Real Estate Investor, with strong higher education, k-12, interiors, and corporate specialty practices.  Carter focuses on value-add real estate investment opportunities, currently overseeing a $550 million portfolio.  Carter's Asset Management division manages more than $2.5 billion of third-party and Carter-owned assets.  Its strategic consulting practice provides clients with customized real estate solutions. For additional information on Carter, please visit http://www.carterusa.com.

About Cassidy Turley

Cassidy Turley is a leading commercial real estate services provider with more than 3,300 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.

SOURCE Cassidy Turley

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