RENY: What led you to align with FTI? How did this fitin with SMG's growth plans?

Schonbraun: We've been giving our future a lot ofthought. We've grown a firm organically that has become the largestdedicated real estate consulting firm in the country. As we'vecontinued to grow, our clients also have grown, and are now allover the country and the world. It became clearer to us that togrow our platform and provide better service to our clients—publicreal estate companies, hedge funds, opportunity funds and,increasingly, sovereign funds—we would be best served by aligningourselves with an organization that really had a national andinternational footprint.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.