We talk a lot about mergers and acquisitions in the residential real estate world, but commercial is booming with these deals, as well. For example, CohnReznick LLP, one of the top accounting, tax, and advisory firms in the U.S., has signed a letter of intent to acquire NOI Strategies (NOI), a global real estate consulting boutique. Here’s the scoop:
The deal is expected to close February 1, 2015. The NOI team will join the advisory services arm of the Firm and will operate as NOI Strategies, a division of CohnReznick. The combination brings additional service offerings and strategic synergies to both firms that will significantly augment the way they serve clients within the commercial real estate industry and beyond.
Established in 2003, NOI is a global services company that provides expert strategy, operations, technology, and outsourcing services to many of the world’s leading commercial real estate owners, operators, and investors. NOI is a certified Women’s Business Enterprise and has a presence in Chicago, New York, Dallas, British Columbia, Canada, and Sydney, Australia. Tama Huang, NOI’s chief executive officer, will become a principal with CohnReznick and will continue to lead the NOI division.
CohnReznick Advisory Group’s diverse service offerings include, Governance, Risk, and Compliance; Government Advisory, Management and Technology Consulting; Restructuring, Litigation, and Transactional Advisory; and Valuation. CohnReznick is an award-winning workplace recognized for its women’s program, flexibility, dedicated learning and development department, and community service initiatives.
“We are excited about what this combination means for our ability to continue to expand, enable, and innovate to deliver better services to our clients,” said Huang. “CohnReznick’s robust advisory services as well as its traditional accounting and tax services are an exciting complement to the platform for NOI. As we continue to design customized solutions from both inside and outside the commercial real estate industry, we sought a partner that would help us expand our platform, augment our resources, and contribute new ideas and best practices from their broad industry experience. CohnReznick was the perfect fit from both a strategic and cultural perspective,” she added.
Keith Denham, Managing Principal and National Director of CohnReznick Advisory Group, stated, “Combining NOI Strategies’ global expertise and unparalleled industry knowledge with our broad suite of accounting, tax, and advisory services means that we can together deliver the most forward-thinking solutions for clients’ complex needs and objectives.” He added, “I am also excited about the cultural synergies that will lead to expanded opportunities for growth and development for all of our talented professionals. Consulting work is incredibly gratifying when you can be part of an industry-leading team that tackles the latest challenges and finds new solutions for age old issues. This is just the first of several strategic moves for us in the advisory services group this year.”
About The Author
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.