The roots of Coldwell Banker Commercial date back
to 1906 when Colbert Coldwell played a key role in rebuilding San Francisco
after a devastating earthquake and fire. Having witnessed his real estate
contemporaries take advantage of the tragedy by acquiring property from
vulnerable sellers at unfair prices, he dedicated himself to providing
an honest and knowledgeable alternative, imbuing his transactions with
honesty and vision on behalf of his clients. Later joined by Benjamin
Arthur Banker, the two partners established a company committed to commercial
Over the next several decades, Coldwell Banker
Real Estate Corporation (CBREC) embarked on a nationwide expansion to
become the dominant commercial real estate company across America. In
1937, CBREC began to provide residential real estate services to become
a full-service real estate company. In 1989, Sears, Roebuck & Co.
sold the commercial division of Coldwell Banker to a group of managers
currently known as CBRE (CB Richard Ellis). As a result of the purchase,
the entities entered into a non-compete agreement.
In 1996, Coldwell Banker Real Estate Corporation,
formerly Coldwell Banker Residential Affiliates, Inc., was acquired
by Hospitality Franchise System, Inc. (HFS). When HFS became Cendant
Corporation, Coldwell Banker Real Estate Corporation became part of
the world's largest hotel and real estate brokerage franchisor,
giving the company access to solid financial resources and an even stronger
brand affiliation. The next decade saw an explosion of resources, created
to keep the company ahead of the rapidly changing technological curve
and drive the brand to customers worldwide. By the end of 1996,
Commercial was once again a strong force in the industry, with hundreds
of companies worldwide practicing commercial real estate under the Coldwell
Banker Commercial flag. Since the brand re-entered the commercial real
estate industry, affiliates have achieved impressive growth by embracing
the benefit of strong brand recognition and the value afforded by global
In 2006, Cendant spun off its real estate brands into Realogy Corporation. In 2007, Realogy was acquired by affiliates of Apollo Global Management and became a private company for the first time in many years. Apollo Global Management, LLC is an American private equity firm, founded in 1990 by former Drexel Burnham Lambert banker Leon Black. The firm specializes in leveraged buyout transactions and purchases of distressed securities involving corporate restructuring, special situations and industry consolidations. Apollo is headquartered in New York City, and also has offices in Purchase, New York, Los Angeles, Houston, London, Frankfurt, Luxembourg, Singapore, Hong Kong and Mumbai. The firm has invested over $16 billion in companies.
In October 2012, Realogy completed a highly successful IPO which again made Coldwell Banker Commercial part of a large public company, Realogy Holdings Corp. Apollo remains Realogy's single largest shareholder.
With a strong parent company in
Realogy Holdings Corp,
affiliates are part of an expansive community. This family of brands
provides affiliates with connections and synergies that allow maximum
exposure for their clients through relationships with other Realogy Holdings Corporation brands and business units including Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, The Corcoran Group®, ERA®, Sotheby's International Realty®, NRT LLC, Cartus and Title Resource Group. Collectively, Realogy's franchise system members operate approximately 13,600 offices with 239,000 independent sales associates doing business in 102 countries around the world. Realogy is headquartered in Madison, N.J.