Travers Realty Corp. and Cresa Merge

LOS ANGELES—Those who follow @GlobeStcom on Twitter and @GlobeStLIVE may have seen a post teasing the announcement, but GlobeSt.com has learned that Travers Realty Corp. has merged with Cresa. The combined company will operate under the name of the Travers Cresa with 150 employees in the western region and more than 1,000 employees internationally, including new comers like Steven Edlefsen. Travers Cresa will be headquartered in Downtown Los Angeles at Travers Realty Corp.’s former headquarters.

Although Travers Realty Corp. and Cresa have been longtime competitors—the two firms are leading tenant representation companies—they are both strong tenant advocates and share a similar culture and goal. For that reason, according to Cresa managing principal Gerald Porter, this deal was a particularly good fit. “The obvious synergy created by combining the firms’ formidable talent and experience in tenant representation was a compelling driver to consummate this deal,” he says. James Travers, Travers Realty founder and new managing principal Travers Cresa and board member of Cresa Los Angeles Board of Directors, echoes those thoughts, explaining that the firms have a “similar corporate values, commitment and focus” paired with a “talented and experienced brokerage team.”