Companies are always looking for ways to expand their business in order to increase profits. One of the best ways to do this is through collaboration with another company, which will help pool resources and networks of the two companies in order to better capitalize on the market. This is what two commercial real estate firms had recently decided to do when they decided to merge the two Michigan companies.
The merger between NAI Mid-Michigan Group and TMN Commercial is aimed at enhancing business operations of both companies while also increasing the level of service provided to the local real estate community. Both companies have exceptional reputations which they hope combine to bring exceptional results. The two merging companies plan to create an organization focused on providing top notch service to clients.
Both companies have experienced steady growth and expansion during the previous five years. The two companies have reported rising business volume between ranging from 20 to 30 percent each year. The newly merged firm will carry more than 400 commercial real estate properties for sale or lease. This is a total of more than $13,000,000 worth of properties under contract or in some type of pending transaction.
However, when making this large of a business merger between two commercial real estate firms it is important create a comprehensive plan of action. This plan should include how to deal with the legal ramifications of the merger. Also, the two companies will have to file the proper legal documents with the regulating authorities. Contracts will have to be drafted in order to ensure both parties are aware of all the details of the new arrangement.
Source: FOX 47 News, Commercial Real Estate Heavyweights Join Forces , No author, Sept. 3, 2013