By Kelsi Maree Borland – www.GlobeSt.com
The firm buys a minority stake in two Southern California offices as part of a new growth strategy, GlobeSt.com learns EXCLUSIVELY.
Brokerage firm SVN International Corp. is adopting a partnership model as part of a new growth strategy. SVN launched the new strategy with the minority purchase of two Southern California offices. This is the first time that the firm has purchased an interest in an office since 2008 when it shifted to a franchise model. As part of the growth strategy, SVN will acquire a minority interest in established commercial real estate companies that are in high growth markets, including Washington DC, San Francisco, and New York City. “As a growth accelerator for the brand, these minority acquisitions not only provide SVN with immediate market share but also provides a foundation on which we can aggressively reinvest in markets on an ongoing basis for future growth,” Kevin Maggiacomo, president and CEO of SVN International Corp., tells GlobeSt.com. “These key markets are also the most active in terms of volume and velocity and serve as hubs for inbound and outbound opportunities.”
The firm is looking to expand the partnership model this year, with a goal of acquiring a stake in three additional firms. “Currently we are in active discussions with potential partners in Philadelphia, San Francisco, and Miami,” says Maggiacomo. “Our overall goal over the next three years is to complete 15 partnerships across the country.”
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