Solon Gershman Acquires Coldwell Banker

Solon Gershman Inc. Commercial Real Estate has acquired Coldwell Banker Commercial's Management Division. The transaction closed on November 20. The combination increases Gershman's property management portfolio by 30 percent.

The acquisition makes Solon Gershman the second largest commercial real estate firm in the St. Louis area with over 7.5 million square feet of office, retail, and industrial space, in over 150 commercial properties. The combined value of the commercial real estate is in excess of $650 million.

Gregory Nooney, Jr., principal managing member and Bruce Brophy, principal of Coldwell Banker Commercial joined Solon Gershman Inc. Nooney has been a leader in the commercial real estate industry for over 50 years. During his career, he has been involved in the development and leasing of over 1.75 million square feet of office space for institutional investors in the St. Louis area. Brophy was responsible for overseeing management operations at Coldwell Banker Commercial and has been in the commercial real estate industry for over 30 years.

Twenty members of Coldwell Banker's professional staff will move into Solon Gershman Inc.'s offices in Clayton. The combined firm will have 42 licensed brokers, allowing the company to offer clients a greater depth of service.

The senior management team includes Tom Stern, president and CEO; Burton Follman, executive managing director; Bruce Pompe, chief operating officer; Edward Balk, executive vice president; Gregory Nooney, Jr., executive vice president; and Bruce Brophy, executive vice president.

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