SCM Real Estate Services has merged with New York-based Coldwell Banker Commercial Alliance, a fast-growing real estate firm with offices in Denver, Orange County and Los Angeles.
Coldwell Banker Commercial Alliance CEO Obie Walli said Thursday that his company is focusing on U.S. markets where it can expand its business. And Texas represented a prime choice for the firm.
“We are looking at specific major markets around the country that present opportunities,” Walli said. “We are focusing on the private investor and the small to mid-cap market.
“There is an abundance of those type of investors in Dallas to provide us with the growth strategy we are looking for,” he said.
Coldwell Banker Commercial Alliance was started in 2012 by Waterfall Asset Management as an affiliate of Coldwell Banker Commercial. The company is also looking to expand to Miami, Washington, D.C., Boston, Chicago and San Francisco, Walli said.
“In every market that we are in there is a partnership structure” in a merger with a local firm, he said. “We are invested into the firm.”
SCM will be renamed Coldwell Banker Commercial Alliance DFW.
“We are going after the same niche we have been in but with a little more firepower,” said SCM CEO Gary Walker who will be managing principal of Coldwell Banker Commercial Alliance DFW. “We’ve been an independent brand for years and done well.
“But these guys have lots of resources and lots of experience and those are the kind of people you want to partner with.”