- Posted at 12:54, November 13, 2013
- By Russ Bleemer
New York-based real estate advisory consulting and asset management services firm Situs has acquired U.S registered broker-deal Situs Capital Management.
The acquisition allows Situs to expand the advisory services the nearly 30-year-old company offers to include private placements, loan sale advisory, real estate capital markets transactions, and private investment banking.
The companies are already related. Situs Capital Management is a wholly-owned subsidiary of Situs Holdings LLC, which has been the parent company of several businesses, and has ownership that includes among others Ranieri Partners. Lewis Ranieri is chairman and president of Ranieri & Co., Inc., private investment manager, and is Situs’s chairman since 2011.
Steven Powel, Situs’s president, said in a statement that "the broker-dealer addition empowers us to both identify new opportunities and work collaboratively with our clients that are active in the private capital markets space.”
Situs’s website says that SCM has raised $170 million for the New Hampshire-based specialty finance company, WhyNotLeaseIt, and is currently working on a number of new opportunities with commercial real estate lenders and private equity funds.