Capital Real Estate, Western Holdings Merge

Execs at the two firms say that the merger, in this changing market, "enables CRA to provide an increased level of real estate acquisition and disposition services to corporations, investors, and lending institutions."

[IMGCAP(2)]Marek cites the two firms' long history of working together and says that the merger gives Clifford and his team "the opportunity to take advantage of CRA's expanded platform of real estate services." Marek adds that the CRA platform complements Clifford's experience providing outsourced real estate acquisition and disposition services to major corporations for a variety of different property types.

Clifford, who founded Western Holdings 21 years ago, has had long-term representation relationships with companies such as National Medical Enterprises, Tenet Healthcare, American Golf, DHL, Sunrise Senior Housing, National Golf Properties and, currently, Red Mountain Retail Group. He is also a principal in Airport Property Ventures LLC, which owns and develops general aviation airports and aviation-related properties.

While running Western Holdings, Clifford specialized in creating value in the acquisition and disposition process by identifying additional real estate opportunities in larger corporate holdings and portfolios. His primary focus now is infill redevelopment and repositioning, as well as identifying locations for user and corporate expansions. He will also continue advising clients regarding other property types such as golf courses, aviation-related properties and land for the development of assisted-living facilities.

The combined firm has already landed a major assignment, advising Red Mountain Retail Group in the disposition of a group of retail assets throughout the Western US. Capital Real Estate Advisors, established in 1994, is a full service commercial real estate brokerage, investment, management and advisory firm led by Marek and managing director Glenn Rudy. The firm's commercial real estate services include sales, financing, leasing, tenant representation, property management, asset management, syndicated investments, development and hard-money lending. Clients include individual real estate investors and owners, private and public equity funds, corporate and institutional entities, as well as educational and religious organizations.

CRA also arranges financing for commercial real estate investments through its affiliate, Capital Lending Resources. In addition, CRA arranges and sponsors investments via participation in real estate syndications.