Leading Asset Manager Acquires NYC's Coldwell Banker Commercial Hunter Realty

Renames Firm as Coldwell Banker Commercial Alliance; Future Expansion Planned in Major Markets Over Next 12 to 18 Months, Beginning in Southern California

News provided by

Waterfall Asset Management

Aug 01, 2012, 11:00 ET

NEW YORK, Aug. 1, 2012 /PRNewswire/ -- Waterfall Asset Management (Waterfall) today announced its acquisition of Coldwell Banker Commercial Hunter Realty, a real estate brokerage and advisory services firm with a 15-year track record of successfully serving tenants and building owners in the Manhattan market. The company will now do business as Coldwell Banker Commercial Alliance, an independently owned and operated affiliate of the Coldwell Banker Commercial (CBC) franchise system. In addition to the Coldwell Banker Commercial Alliance New York location, the firm will now focus on future expansion in major markets across the country under the executive leadership of industry veterans, CEO Obie Walli, and President Bruce Weissberg and will be dedicated to serving small businesses and the owners of commercial assets in the under $10 million range. Accomplished industry experts Peter Sabesan and Richard Selig, the former owners of Coldwell Banker Commercial Hunter Realty, will remain with Coldwell Banker Commercial Alliance.

Simultaneously, Coldwell Banker Commercial Alliance announced the appointment of industry veteran Bob Osbrink to develop and lead its growth into Southern California. Osbrink boasts over four decades of commercial real estate experience, including serving as president, transaction services with Grubb and Ellis for over 20 years.

"We are delighted to announce the acquisition of Coldwell Banker Commercial Hunter Realty and our planned expansion into Orange County, California. In addition, our goal for Coldwell Banker Commercial Alliance is to enter as many as 12 additional major markets in the United States within the next 18 months," said Tom Capasse of Waterfall.

"We are in a truly unique position to harness the best-in-class capabilities and offerings of the Coldwell Banker Commercial franchise system, and also present future Coldwell Banker Commercial Alliance offices with a built-in engine to fuel their business," said Mr. Walli, who most recently served as vice president of operations for Coldwell Banker Commercial Affiliates. "We are confident that this combination will attract the attention of mid-size local commercial real estate brokers who want to bring their companies or their teams under our unique umbrella."

Mr. Walli and his partner, Mr. Weissberg, noted that the Coldwell Banker Commercial name is among the best known and trusted in the market, according to a recent Wall Street Journal survey. "Small businesses deserve the same quality service and attention as the largest corporations - even more in order to provide real estate solutions to speed their growth and success," said Mr. Weissberg, a commercial real estate broker with more than 25 years of experience and former CEO of RELocate and Realty IQ information services.

The small balance commercial property market - totaling $3.6 trillion in market value in the U.S. - is an underserved segment. Coldwell Banker Commercial Alliance executives noted that small-sized investors, users and owners of real estate make up 35% of commercial real estate business transacted annually - accounting for approximately $25 billion of gross commission on an annual basis. In addition, the U.S Census Bureau estimates that 99% of the 6 million firms currently active in the U.S. fall into the small business category.

"We believe in the Coldwell Banker Commercial Alliance vision for excellence in the service of small businesses and small-cap assets, and we think the time is right to build an organization dedicated to fill this tremendous market need," Mr. Sabesan noted. "We are delighted to be the first to step up and play a role in the growth and success of Coldwell Banker Commercial Alliance, and to be a part of this well-capitalized and brilliantly conceived business model. We are especially keen to leverage the assets and relationships that Waterfall Asset Management brings to the table."

"This is an opportunity to leverage a dynamic cross-functional platform that will support the underserved small business arena like never before," adds Mr. Osbrink. "No other commercial real estate brokerage firm will be able to match what we can do for this niche market and I'm thrilled with the prospects of what we can accomplish."

According to Mr. Weissberg, Coldwell Banker Commercial Alliance will be targeting markets such as Chicago, Dallas, Boston and Miami for growth in the near future in addition to Southern California.

"We offer companies and teams of professionals the opportunity to benefit from our entrepreneurial culture and have ownership at the local level while leveraging all the benefits that come with the Coldwell Banker Commercial franchise system," Mr. Weissberg said.

For more information, visit the Coldwell Banker Commercial Alliance website at http://www.cbcalliance.com/.

Media inquiries, contact:

Great Ink Communications: (212) 741-2977
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Roxanne Donovan - [email protected]

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SOURCE Waterfall Asset Management