BBG Acquires Valuation Firm HCP Advisors
BBG views Austin as a strategic market that will contribute to its future growth and its acquisition of HCP Advisors will create one of the city’s largest valuation teams.
AUSTIN, TX—BBG continues to strengthen its presence in the Southwestern region and the United States with the acquisition of HCP Advisors, an Austin-based commercial real estate valuation and advisory firm. The acquisition marks major milestone for BBG, a fast-growing commercial real estate valuation firm, with 28 offices nationwide. Terms of the acquisition were not disclosed.
HCP Advisors provided commercial real estate valuation and advisory services to some of the largest US corporations and financial institutions. Its services included property valuation, due diligence, appraisal review, market research, site acquisitions, workouts, dispositions, and leasing and property tax consulting for multifamily, office, industrial, retail and other property types. The firm also assisted telecommunication companies on telecom infrastructure agreements with large commercial property owners.
BBG named HCP Advisors’ principal Christopher Harman as senior managing director of the Austin office. His primary responsibilities will be overseeing the Austin commercial real estate market, managing a national client base, and collaborating with BBG’s executive and technology teams on various strategic initiatives.
“We will continue BBG’s mission to provide a unique and successful client-centric business model that offers a market-leading and conflict-free valuation platform,” says Harman. “We are excited about the firm’s commitment to invest heavily in technology to keep pace with new innovations in this industry. We look forward to playing an integral role in BBG’s continued growth in an increasingly complex and rapidly changing commercial real estate market.”
Harman, who founded HCP Advisors in 2001, has had a lengthy career in the Texas commercial real estate sector. Prior to HCP Advisors, he held several senior roles including head of global real estate for a Fortune 10 energy company and business development for a European-based private equity firm focused on distressed data center assets. Earlier, Harman worked at several Texas real estate companies including Trammell Crow.
“Austin is recognized as one of the most dynamic real estate markets in the country, driven by a booming local economy, a desirable business hub and an exceptional quality-of-life environment,” says BBG CEO Chris Roach. “The city’s remarkable growth makes it especially important to have a deep knowledge of this market to properly handle various zoning and land-use complexities. With this acquisition, we will create one of the city’s largest valuation teams offering the expertise and experience required to address our clients’ needs. We also see Austin as a strategic market that will contribute to BBG’s future growth.”