CBRE Group Inc. has acquired Culver City-based Valuation & Information Group for an undisclosed sum.
CBRE was based downtown before moving to Dallas in 2020. It still has a large L.A. presence and maintains multiple offices and teams in the area.
Valuation & Information Group is an appraiser of senior housing and health care real estate. Its 23 employees will all be integrated with CBRE’s Seniors Housing & Healthcare team, part of its Valuation and Advisory Services.
“We believe this acquisition, combined with our existing national platform, will make us the clear leader in senior housing and health care appraisal,” Tom Edwards, global president of Valuation and Advisory Services at CBRE, said in a statement.
VIG’s areas of expertise includes independent living, assisted living, skilled nursing, medical office buildings, surgery centers, specialty hospitals and general acute-care hospitals. It also provides services for HUD and multifamily financing.
Marc Lussier and JP LoMonaco will continue to lead the team as executive vice presidents.
“We’re thrilled to join forces with CBRE, the global leader in real estate services. Their extensive resources and platform will enhance and expand the services we provide to our clients. We’re excited about the opportunities that lie ahead as part of the CBRE team,” Lussier said in a statement.
The acquisition is part of CBRE’s push to “enhance its leadership position in specialty areas of valuation and advisory services,” according to the company.
CBRE previously acquired Cold River Land, which does property tax payment services; the Los Angeles and Orange County affiliates of right-of-way appraisal firm IRR; and surveying services provider Millman National Land Services as part of that push.