Situs, the global commercial real estate advisory, asset management and loan servicing firm, has been put up for sale with investment bank Raymond James hired to assemble formal offers for US and European real estate services business.
Rumours were sweeping throughout the EXPO trade fair last week in Munich which follow a number of unsolicited approaches were made.
Situs was acquired in 2011 by Helios AMC, originally a joint venture between Ranieri Partners and Deutsche Bank, which then converted into Situs as it is today.
Situs now has a diversely spread ownership base comprised of: Ranieri Partners of Uniondale, Brookfield Investment Management of New York, South Carolina Retirement and members of its own management team. Deutsche Bank no longer has any direct or indirect holding.
Reports in the US put the possible price tag at between $150m to $200m and even speculated that among an expected diverse range of suitors could be the TPG-led consortium which acquired DTZ and Cassidy