By Keith Loria, Contributing Editor
Los Angeles—BBG has acquired Abergel & Associates, a full-service commercial real estate appraisal firm founded by Michael Abergel in Los Angeles.
“Mike and his team have worked together for over 20 years. The collective group of local market expertise, along with long lasting customer relationships, is what attracted us to Abergel & Associates,” Chris Roach, BBG’s CEO, told Commercial Property Executive. “Our focus remains on being the premier independent national valuation company.”
BBG ranks among the largest U.S. real estate valuation and assessment firms, with more than 20 offices nationwide. The acquisition is the firm’s second in the Western region within the past year, following the purchase of Denver-based Commercial Valuation Consultants.
Abergel & Associates has been successfully competing with the major brokerage firms in one of the largest markets in the world for over two decades. Abergel will join the BBG team as managing director of its Los Angeles office, responsible for overseeing the office’s operations, creating new business opportunities and quality control.
“Mike adds depth and experience to our current California management team. His reputation as one of the most respected real estate valuation experts in L.A. bolsters our ability to service our clients in that market, along with our brand along the West Coast,” Roach said. “He has overcome similar challenges and has celebrated similar successes. He and his team have experienced the tremendous value in local market expertise along with excellent customer service. From the beginning of this process, we felt like they were a perfect fit for BBG.”
According to Roach, the moves aren’t done yet. The firm has a few other acquisitions currently in process; two of which should close in the next couple of weeks.