Paul Dietz, the owner and president of the Birmingham-based commercialbrokerage firm, has now become a principal of Hendricks since theacquisition.

However, his nephew, Dan Dietz, decided to split off onto his own, and tooka few people with him. His new firm is called Dietz Commercial, and is nowbased in Bloomfield Township.

The new company's mission couldn't have been absorbed by Hendricks, saidMichael Fennessy of Dietz Commercial. The Phoenix-based company is thelargest firm in the United States that specializes exclusively in the saleof multifamily properties.

The purchase became official Jan. 1, for an undisclosed sum.

"The Organization did probably 70% multifamily sales compared tocommercial, though revenues were 50-50," Fennessy told GlobeSt.com. "SinceDon Hendricks was acquiring multifamily firms across the country, it was agood fit to buy the Organization."

He said the commercial division of the Organization had produced sales lastyear in excess of $175 million.

Dan Dietz took all the people that sold office, retail and industrial andbrought them to Dietz Commercial. He and Fennessy, principles and co-owners,have 30 years experience between them. Fennessy's background is ininvestment sales in Columbus, Ohio, and on local deals such as the LennoxTown Center and the Continental Center.

"We expect an increase in 2003 sales as investors continue to take advantageof attractive interest rates available in today's debt market," Fennessysaid.

The new company will focus exclusively on the sale of retail, office,industrial and multi-family product in Michigan, Ohio, Indiana and Kentucky.

"It was an amicable split," Fennessy said. "We are informing all our clientsof our new identity by mail. We predict that the transition will beseamless."