SCM Real Estate Services in Arlington, a long-established independent commercial real estate firm, said Thursday that it has merged with New York-based Coldwell Banker Commercial Alliance real estate brokerage.
SCM is changing its name to Coldwell Banker Commercial Alliance DFW. It will remain in Arlington but will add offices in Fort Worth and Dallas this year.
Gary Walker, SCM’s founder and president, will serve as managing partner. Theron Bryant, also an SCM principal, will lead the new firm’s Fort Worth operations as a market director.
Coldwell Banker Commercial Alliance was launched in 2012 by New York-based Waterfall Asset Management. It is an affiliate of Coldwell Banker Commercial and has offices in New York; Denver; Orange County, Calif.; and Los Angeles, employing about 150 professionals. It says it has closed $800 million in transactions.
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“Gary and his team have been incredibly successful in serving small and mid-cap businesses in the Mid-Cities as well as private investors throughout the Metroplex,” Obie Walli, chief executive of Coldwell Banker Commercial Alliance, said in a statement. “This is a terrific opportunity for both organizations.”
Walker, who founded SCM in 1992, said the merger means expanded resources for clients and comes at a good time in the firm’s growth.
“It was good timing for us to grow our business,” Walker said. “We had considered a number of expansion opportunities. We were ready for a change. They’ve got quite a bit of capital and broad experience in real estate. They’re smart guys.”
SCM said it has closed more than $100 million in transactions and leased in excess of 9.8 million square feet of commercial space.
Walker is also managing partner of SkyWalker Property Partners and managing member of the $100 million Hangover Opportunity Fund, an investment vehicle with commercial real estate holdings in Texas and surrounding states.