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Guardian Management acquires eight Sperry Van Ness offices.

Guardian Management LLC--a Portland, Oregon-based real estate investment and management firm--announced in late July it will acquire the Southern California and Arizona offices of commercial real estate brokerage firm Sperry Van Ness, Irvine, California. Terms of the acquisition were not disclosed.

With the acquisition, Guardian will hold the development and franchise rights for Sperry Van Ness in Southern California, Arizona and Oregon, with Guardian's president, Tom Brenneke, expected to become a member of the Sperry Van Ness board of advisers as part of the deal.

"Sperry Van Ness is one of the nation's leading brokerage firms, and this acquisition will strategically expand Guardian's geographical reach, diversify our portfolio and broaden opportunities for investors," said Brenneke. "It is a perfect complement to Guardian's existing expertise as a fully integrated, Weset Coast real estate investment company."

Guardian said it will continue to operate the brokerage as an affiliate company under the Sperry Van Ness brand. The purchase includes eight regional offices in Southern California and Phoenix, consisting of 190 commercial real estate advisers.

Guardian is already performing limited brokerage services for clients--a complementary business function to its core business of property management, syndication, acquisitions and development, said Brenneke.

Guardian will immediately begin to build upon the existing Sperry Van Ness presence in Oregon. The company will also look to develop the Sperry Van Ness organization in Arizona, expanding outside the Phoenix market to include Tucson, added Brenneke.

The Guardian acquisition is the latest stage of a strategic initiative started by Sperry Van Ness in 2000 with the goal of evolving into the premier commercial real estate franchise in the industry, explained Rand Sperry, co-founder of Sperry Van Ness.

"When we began looking for a strategic franchisee for our corporate offices, we knew it had to be just the right partner, and we've found an ideal partner in Guardian both strategically and culturally," said Sperry.

By offering business ownership to successful brokers, Sperry Van Ness has successfully attracted hundreds of the leading brokers in the nation over the last several years, added Mark Van Ness, chief executive officer and co-founder of Sperry Van Ness.

"Guardian's presence and reputation on the West Coast, strong management team and its multifamily offerings will reinforce and strengthen our brand and company significantly," said Van Ness.

The franchise of the eight remaining company-owned offices will allow Sperry and Van Ness to move from focusing on the daily operations of the Southern California and Arizona offices to building the Sperry Van Ness International brand by attracting new franchisees in untapped markets across the United States and world. Most recently, the company expanded its presence in major markets including Seattle, Chicago and Washington, D.C., said Van Ness.

The Guardian transaction was scheduled to close by Aug. 29.
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Title Annotation:Commercial; Guardian Management Corp.; Sperry Van Ness
Comment:Guardian Management acquires eight Sperry Van Ness offices.(Commercial)(Guardian Management Corp.)(Sperry Van Ness)
Publication:Mortgage Banking
Date:Sep 1, 2008
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