BBG, a third-party commercial real estate due diligence firm, announced the acquisition of five Integra Realty Resources appraisal offices in the southeastern US. Terms of the acquisition were not disclosed.
BBG’s acquisition of IRR offices in Jackson, Miss., Memphis, Tenn., Fayetteville and Little Rock, Ark., and New Orleans, La. will complement and further strengthen BBG’s position as one of the largest independent assessment and valuation firms in the country.
With this acquisition, BBG will add more than 40 employees and expand its presence to 46 offices nationwide.
Appointments at the Jackson office include John R. Praytor, MAI, AI-GRS, as Executive Director; James O. Turner II, MAI, and Kenny Owen, Jr. as Managing Directors; and Caleb Koonce as Director. Their specialty practices include eminent domain, banking and finance.
BBG Senior Managing Director Marc Nassif, MAI, LEED AP, MRICS, commented on the acquisition: “BBG is excited to offer our new colleagues the opportunity to expand client relationships without the constraint of geographic boundaries. They are also excited to bundle BBG’s broad spectrum of independent due diligence services to better serve their clients without any conflicts of interest. Joining BBG allows them a flexible business model that encourages entrepreneurialism while retaining the ability to focus on quality deliverables.”
BBG Senior Managing Director, Grant Griffin, MAI, who oversees the southeast region, added: “We are thrilled to have these highly experienced professionals and their teams join BBG. Their entrepreneurial drive is second to none and will greatly complement our ability to deliver outstanding client outcomes across all service lines. BBG will continue to attract talented appraisers in each of these markets, and we look forward to our continued growth.”