Commercial real estate services and investment firm has paid an undisclosed sum to buy Cold River Land, a provider of property tax payment services in the US.
Cold River Land offers real estate owners and lenders tax management services, including document management, data management, appeals, research and monitoring.
Tom Edwards, the global president of CBRE鈥檚 valuation and advisory services (VAS) said Cold River Land expands CBRE鈥檚 property and transaction tax capabilities, 鈥渆nabling us to provide a holistic approach that meets all our clients鈥� property tax needs.鈥�
Cold River Land鈥檚 employees will integrate with CBRE鈥檚 property and transaction tax services team within VAS.
CBRE said John Pearson, founder and managing partner for Cold River Land, will continue to run the incoming team鈥檚 operations as CBRE鈥檚 managing director of property tax payment services.
鈥淏y joining forces with the world鈥檚 largest real estate services company, we benefit from CBRE鈥檚 market-leading platform and can expand our comprehensive property tax management product that allows clients to focus on their business while we manage each parcel from appeal to payment,鈥� said Pearson.
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