BBG, a leading independent third-party commercial real estate due diligence firm, today 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.
John Praytor, MAI, AI-GRS, Executive Director, Jackson, Miss. office.
James Turner II, Managing Director, Jackson, Miss. office
Kenny Owen, Jr., Managing Director, Jackson, Miss. office.
Caleb Koonce, Director, Jackson, Miss. office
Grant Hogue, Director, Fayetteville and Little Rock, Ark. offices.
Jan Bergk, Director, Memphis, Tenn. office.
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.
Mr. Praytor has been involved in real estate valuation and consulting for more than 30 years. He has extensive experience in the valuation of shopping malls and centers, warehouse/distribution facilities, multi-family, office buildings, hospitality, special purpose properties, convenience stores, car wash going concerns, subdivisions, health facilities, condemnation and litigation support.
Mr. Turner previously served as a Director at the Jackson office and has nearly two decades of appraisal experience including valuation of right of way, office buildings, warehouse and distribution properties, hospitality, special purpose properties, condemnation, estate and financing. Besides his other duties at BBG, Mr. Turner will be involved in expanding the firm’s eminent domain practice in the region.
Mr. Owen was formerly a Director at the Jackson office and has been active as an appraiser and other real estate activities for more than 25 years. His expertise includes valuation of office buildings, shopping malls, hospitality, multi-family, warehouse/distribution facilities, industrial buildings, senior housing, health facilities, vacant land, convenience stores, and special purpose properties.
Mr. Koonce, an attorney, has served in numerous management roles including in-house counsel, right-of-way operations coordinator, and chair of core values and culture initiatives. Mr. Koonce’s appraisal experience includes complex litigation matters such as right-of-way valuation and acquisitions, and special purpose properties.
The appointments at the other offices include:
Grant Hogue was named as a Director at the Fayetteville and Little Rock offices. Mr. Hogue has expertise in net leases properties, retail, office, mixed-use, industrial, self-storage, right-of-way and eminent domain.
Jan Bergk was appointed as a Director at the Memphis office. Mr. Bergk has expertise in multi-tenant retail and office and self-storage valuation.
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.”
BBG offers comprehensive due diligence services including valuation, advisory, assessment, desktop evaluation, energy services, cost segregation, zoning, and ALTA surveys. Headquartered in Dallas, the firm has 46 offices in key US markets and more than 2,800 clients. As one of the Big Five national commercial real estate valuation firms, BBG has achieved a reputation for personal attention, on-time delivery and deep expertise in multi-family, office, retail and industrial sectors.